Domino theory5/26/2023 ![]() Sustainability-Linked Bonds Come With Great Perks for Businesses.Five Challenges for Infrastructure Financing with Private Involvement.They need to prepare to adapt to climate change and strengthen resilience in their operations, supply chains and the communities in which they operate. I would say that large companies, at least, have done their work internally and within their usual perimeter, but they need to further increase investment in developing innovative, inclusive, climate-smart and low-carbon products and services. And an ever-growing list of companies, organizations and countries are joining the climate commitment. Nowadays, it is difficult to find a large company that has not set specific quantitative targets for reducing its own CO2 emissions over a medium-term horizon (2030). Hence, Climate Action is a fundamental pillar, a sine qua non condition to achieve the rest of the objectives.Ĭlimate Action is also the SDG on which the corporate world has focused when setting its commitments for the 2030 Agenda, according to data from Global Compact. It also facilitates food production through more resilient agriculture and encourages responsible consumption (12), in addition to protecting marine biodiversity (14) and terrestrial ecosystems (15). The positive spin on this is that, by acting on SDG 13, significant benefits can be achieved in energy security (SDG 7), health and well-being (3), clean water (6), economic growth and decent jobs (8), sustainable cities (11) and national security (11). Of course, the 17 Development Goals adopted in 2015 are relevant and necessary but, if we do not take action to reverse global warming, there will be fewer natural resources, less marine life, less water, more inequality of all kinds, more poverty, fewer economic resources, fewer jobs, less education. It is the piece that, once set in motion, dominoes onto the others. It is clear that Sustainable Development Goal 13, Climate Action, is a cornerstone for the rest of the goals. Global warming is causing permanent changes to the climate system, the consequences of which may be irreversible if we fail to take urgent action now. The economic consequences are also growing: AON estimates that in 2020 alone, annual losses caused by climate-related catastrophes have exceeded $268 billion. The damage to humans is enormous: climate change is estimated to cause five million deaths a year (9.4% of all deaths) and forecasts suggest that by 2100, 83 million people-the equivalent of the population of Germany-could die from climate-related causes. ![]() ![]() Global temperatures have risen by one degree sea levels have risen by 19 centimeters between 19 and, if this continues, could rise by almost two meters by 2100, according to data and estimates in the latest report of the Intergovernmental Panel on Climate Change (IPCC). Greenhouse gas emissions have increased by an annual average of 1.5% in the last decade, more than 50% above 1990 levels, and have doubled since the first industrial revolution. And this must be done without further delay. ![]()
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