The coalition, coordinated by the FAIRR Initiative and backed by former UN Secretary-General Ban Ki-moon, said that to date (November 9), none of the 16 G20 NDCs submitted so far have contains the specific targets requested – as opposed to the energy sector, of which 50% include targets.
The group, which includes Legal & General Investment Management (UK) and the Canada Post Corporation Pension Scheme, is also urging delegates to the climate summit in Glasgow to seize the opportunities presented by COP26 to turn production and protein consumption at the forefront of the climate conversation.
COP26: investors target clean energy technologies to accelerate net zero
According to the coalition’s “Where’s the Beef” statement, investors are “deeply concerned” about the risks posed by climate change to regional and global economies and to investment assets in the agricultural sector.
At the same time, they recognize “the significant investment opportunities” presented by the transition to an emerging economy with net zero emissions.
Jeremy Coller, Chair of the FAIRR Initiative, said: “The announcements of COP26 on methane and deforestation are to be commended. The main contributor to both is animal agriculture, and reform of this sector remains on the sidelines of discussions in Glasgow.
“The attitude of willful ignorance of the 20th century must be replaced with market data and a clear path to a sustainable agricultural sector in the 21st century. Without it, the world cannot stay below 1.5 ° C. Warming.”
Food systems account for a third of all global emissions. At COP26, more than 100 countries pledge to reduce methane emissions. If honored, this pledge will prevent a warming of 0.2 ° C by the middle of this century.
Investors urge fund managers to sell stocks of companies with poor ESG performance
Investor support for the statement has more than doubled since its initial launch in June, just over four months ago, reinforcing financial markets’ clear desire for sector-specific emissions targets in agriculture or the market. food system at large.
João Campari, global leader in food practices, WWF, added: “Without urgent decarbonization of our food systems, we will not be able to meet the Paris Agreement or the SDGs.
“We can’t phase out food like we can with fossil fuels, but we can adopt nature-friendly practices that generate net zero emissions. Although the majority of countries now refer to agriculture or land use in their NDCs, specific targets and implementation roadmaps are lacking – they are needed to ensure that food production is not no longer part of the problem but part of the climate solution.
The statement is endorsed by the architect of the 2015 Paris Agreement, Ban Ki-moon, who emphasizes: “Transparent emission reduction targets will help investors and broader stakeholders to measure progress towards zero. net and to trace the transition to a more sustainable agriculture.