ESG
November 2022
Key takeaways
- On the heels of September’s Climate Week and with COP27 – the UN’s annual climate change summit – around the corner, advancement on Net Zero goals is an area of focus for corporates, climate activists and policymakers alike. We take a look at this progress and answer 12 questions about what to expect at COP27 and beyond based on a recent BofA Global Research publication.
- The race to decarbonize the global economy is well underway. As of June 2022, Net Zero emissions targets were in place from countries generating 91% of global GDP (and 88% of emissions) up from 68% in December 2020, and just 16% in mid-2019.
- In looking to COP27, the motivation for climate action is expanding from one of purely environmental sustainability to a combination of economics, geopolitics, and national security.
- It’s no longer just about saving the planet, but about revitalizing economies after the pandemic and, more recently, in response to the war in Ukraine. These shocks have provided further impetus to accelerate action on climate change to both increase resiliency and as a means to reindustrialize economies and own the future resources and technologies required to decarbonize.
Read our full analysis for a more in-depth look at these trends.
