Climate-Responsible Finance - a Moral Imperative towards Children - World
In October 2021, the Interfaith Message and Appeal recognized the need to align financial investments with environmental and socially responsible standards, ensure greater accountability and transparency, and move from fossil fuel investments to renewable energy investments and renewable agriculture.
We, therefore, the leaders of the undersigned entities, reaffirm our commitment to work with the financial institutions through which we finance, invest and seek insurance coverage to ensure that our financial operations are in line with the Paris Agreement objectives of reducing warming. global. 1.5. Celsius.
In response to the gravity of the Intergovernmental Panel's Sixth Assessment Report on Climate Change, we expect all financial service providers operating within our institutions to ensure that their activities support an equitable transition to a sustainable future and do not contribute to the climate crisis or harm vulnerable populations. Children and future generations live on Earth. As documented by UNICEF , one billion children are at “very high risk” of being affected by the climate crisis.
We require our financial service providers to invest in renewable energy and environmental solutions that are innovative and sustainable for individuals, communities and ecosystems.
We will review pensions, banking, insurance and other financial services to ensure evidence-based accountability in this regard, as a moral obligation and responsibility for all children and the world of life. We call on our financial service providers to take immediate and effective action to move away from financing fossil fuels – in line with the decarbonization path outlined by the scientific community1 – while positioning investment portfolios to help achieve net greenhouse gas emissions by 2050.
- Invest in renewable energy and find climate solutions
- Commit to completely phase out financial services and coal by 2030 for EU and OECD member states, and by 2040 globally, and pursue appropriate commitments to phase out all remaining coal-related businesses in their countries. conservative.
- Stop funding new oil and gas exploration and production projects, as the latest science and modeling in the field of climate change mitigation provides. ^ 1 ^
- Require oil and gas companies to complete all new development or expansion projects after 2022, including but not limited to all such projects in the Arctic.
- Join an alliance of net asset owners, banks and/or insurance companies^2^, depending on the type of financial institution involved, if you are not already a part of it.
We encourage financial institutions we work with to report on their progress regularly, including the identification of achievements of every five^3^ in accordance with Article 4.9 of the Paris Agreement.
We invite all of our group members and all of our partners to do the same so that together we can move from words to effective action and into the changes we advocate.
teacher teacher. Dr Joan Soca
Acting Secretary General
World Council of Churches
Eric Asher
boss
United Nations Environment Program Funding Initiative
Teacher. Dr Iyad Abu Moghli
boss
UNEP Faith for Earth
dr..Sultan Al-Rumaiti
Secretary General
Muslim Elders Council
Rabbi Joseph Potasnik
Executive Vice President
New York Council of Rabbis
According to, among other historical collections, the IPCC 1.5C Special Report on Zero/Low Overtaking Paths , including the March 2022 update , and the IPCC Net Zero Roadmap from 2021 to 2050, among others.
The Alliance provides capacity building to take effective, time-bound steps to convert investment portfolios into net greenhouse gas emissions by 2050.
The first intermediate target of this type is set and ideally achieved by 2025, but by 2030 at the latest.