{"id":132526,"date":"2024-07-22T08:00:26","date_gmt":"2024-07-22T05:00:26","guid":{"rendered":"https:\/\/tietopankki.crnet.fi\/fi\/news\/in-numbers-how-big-is-the-global-climate-finance-gap\/"},"modified":"2024-07-22T08:00:26","modified_gmt":"2024-07-22T05:00:26","slug":"in-numbers-how-big-is-the-global-climate-finance-gap","status":"publish","type":"post","link":"https:\/\/tietopankki.crnet.fi\/fi\/news\/in-numbers-how-big-is-the-global-climate-finance-gap\/","title":{"rendered":"In numbers: How big is the global climate finance gap?"},"content":{"rendered":"<div class=\"mp_wrapper\">\n  <div class=\"mepr-unauthorized-message\">\n    <p>You are unauthorized to view this page.<\/p>\n  <\/div>\n  <div class=\"mepr-login-form-wrap\">\n            \n<div class=\"mp_wrapper mp_login_form\">\n                  <!-- mp-login-form-start -->     <form name=\"mepr_loginform\" id=\"mepr_loginform\" class=\"mepr-form\" action=\"https:\/\/tietopankki.crnet.fi\/fi\/login-2\/\" method=\"post\">\n            <div class=\"mp-form-row mepr_username\">\n        <div class=\"mp-form-label\">\n                              <label for=\"user_login\">Username<\/label>\n        <\/div>\n        <input type=\"text\" name=\"log\" id=\"user_login\" value=\"\" \/>\n      <\/div>\n      <div class=\"mp-form-row mepr_password\">\n        <div class=\"mp-form-label\">\n          <label for=\"user_pass\">Password<\/label>\n          <div class=\"mp-hide-pw\">\n            <input type=\"password\" name=\"pwd\" id=\"user_pass\" value=\"\" \/>\n            <button type=\"button\" class=\"button mp-hide-pw hide-if-no-js\" data-toggle=\"0\" aria-label=\"Show password\">\n              <span class=\"dashicons dashicons-visibility\" aria-hidden=\"true\"><\/span>\n            <\/button>\n          <\/div>\n        <\/div>\n      <\/div>\n            <div>\n        <label><input name=\"rememberme\" type=\"checkbox\" id=\"rememberme\" value=\"forever\" \/> Remember Me<\/label>\n      <\/div>\n      <div class=\"mp-spacer\">&nbsp;<\/div>\n      <div class=\"submit\">\n        <input type=\"submit\" name=\"wp-submit\" id=\"wp-submit\" class=\"button-primary mepr-share-button \" value=\"Log In\" \/>\n        <input type=\"hidden\" name=\"redirect_to\" value=\"\/fi\/wp-json\/wp\/v2\/posts\/132526\" \/>\n        <input type=\"hidden\" name=\"mepr_process_login_form\" value=\"true\" \/>\n        <input type=\"hidden\" name=\"mepr_is_login_page\" value=\"false\" \/>\n      <\/div>\n    <\/form>\n    <div class=\"mp-spacer\">&nbsp;<\/div>\n    <div class=\"mepr-login-actions\">\n        <a\n          href=\"https:\/\/tietopankki.crnet.fi\/fi\/login-2\/?action=forgot_password\"\n          title=\"Click here to reset your password\"\n        >\n          Forgot Password        <\/a>\n    <\/div>\n\n      \n    <!-- mp-login-form-end --> \n  <\/div>\n      <\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<div class=\"smart_content_wrapper\">\n<p>To coincide with Climate Finance Week 2024, edie pulls out 18 eye-opening stats on the financial implications of creating a sustainable global future.<\/p>\n<p><em><strong>In numbers: How big is the global climate finance gap?<\/strong><\/em><br \/>\nThe question of how best to close the global climate finance gap, in terms of moneys provided by wealthy national governments, is set to dominate negotiations at this year\u2019s UN climate conference, which is now just weeks away. In Baku this winter, low-income nations on the frontlines of the climate crisis will push for a new target to scale this spending. A long-standing $100bn per year goal was only met for the first time in 2022, more than a decade after first being discussed. The goal needs to be raised , delivery mechanics eased and accounting loopholes closed, Oxfam has warned.But this level of spending pales in comparison to what philanthropists and the private sector can \u2013 and must \u2013 provide.<\/p>\n<p>The World Economic Forum (WEF) estimates that up to $3.5trn of additional investments are required globally each year to achieve the Paris Agreement on climate change and deliver international nature ambitions. Unlocking this finance has been challenging in an economic downturn post-lockdowns. Looming elections in many countries have also led to businesses stalling investment decisions, awaiting clarity from new Governments. Keeping focused on why can be daunting \u2013 especially if your business sees sustainability as a loss or sacrifice. Here, we pull a set of top-line statistics from trusted environmental and economic research organisations. Together, these 18 statistics break down the cost of closing the climate and nature finance gap.<\/p>\n<p><strong><em>What do we have to spend?<\/em><\/strong><\/p>\n<ul>\n<li>Total global spending by individuals, businesses and governments on land-use systems and energy will need to rise by $3.5trn a year, every year, if we are to have any chance of getting to net-zero in 2050.<\/li>\n<li>The cost of achieving the broader UN Sustainable Development Goals is estimated between $5.4trn and $6.4trn per year through to 2030.<\/li>\n<li>Much of this spending needs to flow to the world\u2019s 48 developing countries. For them to act only on goals relating to climate, biodiversity loss and pollution, $337bn is needed each year.<\/li>\n<li>70% of annual capital spending through 2050 will need to be spent on low-emissions assets. In the 2010s, only 35% was allocated this way.<\/li>\n<\/ul>\n<p>Annual global spending on energy grids, which stagnated around $300bn since 2015, needs to reach $600bn by 2030. This will help improve energy access, electrify transport and heating, and ease new low-carbon generation in coming online.<\/p>\n<p><strong><em>What could be lost?<\/em><\/strong><\/p>\n<ul>\n<li>By 2050, $2.1trn in power assets could be stranded \u2013 mainly fossil fuel infrastructure. Strandings are likely to result from physical climate risk to assets plus a rapid energy transition. The level of strandings will depend on whether the afternoon is managed in an orderly fashion.<\/li>\n<li>Global tobacco use in 2025 is likely to be 25% lower in relative terms than in 2010, supporting the SDGs not only relating to public health but to nature and climate.<\/li>\n<li>Due to water-related risks such as water scarcity and pollution, large businesses face risks of up to $225bn in their operations and supply chains by 2050.<\/li>\n<li>They expect at least $7.7bn of this risk to crystallise in the immediate future.Inaction on nature would place 55% of the world\u2019s GDP \u2013 currently equivalent to around $55trn \u2013 at risk by 2100. Potential economic impacts would be \u201cwide-reaching\u201d.<\/li>\n<li>Despite this, most large investors are only conducting climate stress tests for regulatory compliance, and using basic sector-wide methods. Only one-third are seeking third-party assurance for secondary risk calculations and social resilience analyses.<\/li>\n<\/ul>\n<p><em><strong>What do we stand to gain?<\/strong><\/em><\/p>\n<ul>\n<li>A liveable future for the global population. The IPCC has concluded that, if the Paris Agreement is broken, 3.3 billion people will lose their livelihoods after the 2050s, equivalent to around a third of the population.<\/li>\n<li>The SDGs envision other socio-economic and environmental benefits including energy and employment access, peaceful and inclusive societies, more resilient cities, and reduced inequality within countries and internationally.<\/li>\n<li>71% of C-suite and functional leaders anticipate a growing significance of ESG in corporate performance.<\/li>\n<li>A global shift to a circular economy by 2040 could create savings of more than $4.5trn.<\/li>\n<li>Industries worldwide could save $437 billion per year by 2030 through improved energy efficiency.<\/li>\n<li>Achieving a global net-zero energy system by 2050 would create 14 million new jobs by 2030, and present opportunities for 16 million workers to shift into clean energy roles. These roles typically pay 10-50% more than the national average in advanced economies.<\/li>\n<li>Europe\u2019s transition to net-zero would support at least 1.4 million new jobs each year through to 2050. It could add up to \u00a3765bn to the UK\u2019s economy in this period.<\/li>\n<\/ul>\n<p>Net-zero industries have proven more resilient to the pandemic and subsequent economic downturn in the UK. They grew 9% year-on-year between 2021-2023, while the broader economy grew just 1%.\u00a0Additionally, there also the obvious environmental benefits of increased investment \u2013 from better air quality to more access to nature. These environmental benefits may be hard to attach a cost to, but are essential.<\/p>\n<p>Source: <a rel=\"noopener\" href=\"https:\/\/www.edie.net\/in-numbers-how-big-is-the-global-climate-finance-gap\/\">edie.net<\/a><\/p>\n<\/div>\n<p>The post <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\/environmental-news-en\/in-numbers-how-big-is-the-global-climate-finance-gap\/\">In numbers: How big is the global climate finance gap?<\/a> appeared first on <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\">Vastuullisuusuutiset.fi<\/a>.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[575,15373],"class_list":["post-132526","post","type-post","status-publish","format-standard","hentry","category-news","tag-environmental-news-en","tag-global-climate-finance-gap"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts\/132526","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/comments?post=132526"}],"version-history":[{"count":0,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts\/132526\/revisions"}],"wp:attachment":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/media?parent=132526"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/categories?post=132526"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/tags?post=132526"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}