Following on from a discussion forum that explored the challenge of financing net zero, the Society has published a briefing report summarising the actions required by government, the financial sector, business and the third sector to meet the scale and pace of change needed to reach a net zero economy.
As we begin to adapt and recover from the coronavirus pandemic, the path forward must not lose sight of net zero aspirations to tackle climate change. And as the UK steps up its commitment to achieve net zero carbon emissions, the leading role it has played in the growth of green finance is increasingly vital. But this recent growth has not yet closed a persistent 'investment gap' between targets and current realities in terms of the scale or nature of investment that is needed.
Drawing on the presentations and discussions at our event last December, the briefing report, written by Professor Harriet Bulkeley and Dr Bregje van Veelen, outlines recommendations for the ways in which investment is and should be taking place. These include: increasing the diversity and use of labelled green financial instruments; moving finance out of 'brown' (high carbon) activities, including by making the risk and impact of investment on the climate more visible; and establishing carbon markets with the net zero goal in mind.
Watch the video above to hear from our expert contributors on the challenge of financing net zero.
Find out more about this issue and read the briefing report.
The research underpinning the event and report was undertaken by a European research team, REINVENT EU, who are analysing decarbonisation in four industrial sectors using an interdisciplinary approach to understand emissions of their entire value chains and the possibilities for transition.
Financing net zero: how can investment meet the climate challenge was part of the Society's Environment and Society Forum series of knowledge exchange events.