Bristol is leading the way for the rest of the UK by declaring a climate emergency and pledging to become carbon neutral by 2030. Bristol had already pledged to be carbon neutral by 2050, but the city has brought this date forward by 20 years.
This decision was made off the back of the recent announcement by the IPCC that it is vital to limit global warming to under 1.5°C. We are already seeing widespread effects due to the 1°C rise that has already occurred. The paper released by the IPCC has highlighted the catastrophic consequences of what could happen if we allow the global temperature to increase to over 1.5°C. It will increase the risk of long-lasting and irreversible damage.
The IPCC has also pointed out that in order to limit global warming to 1.5°C, it will “require rapid, far-reaching and unprecedented changes in all aspects of society.”
In the financial industry there has been an increased focus on ethical stances affecting investment considerations. There has been a surge in interest in sustainable and responsible investment, especially among millennials. When incorporating environmental, social and governance (ESG) factors into investment decisions, climate change is often a high priority.
“When we all look out of our windows we see a world that is facing huge challenges. If there is a way investment can address those challenges, that makes sense from a societal and a business perspective.”
This market is sometimes seen as complex, but, in essence these are simply regular investment funds that take additional factors into account when deciding where to invest.
Categorised in: IFAs
This post was written by Melanie Dolphin