The Global State of Investor Climate Action report released last week underscores how climate concerns have become a major consideration for large investors.
Three-quarters of institutional investors surveyed now assess financial risks and opportunities posed by climate for their portfolios, 70% have made sustainability investments, with 30% committed to increasing them, and 73% are engaging with investee companies on sustainability issues.
The report also highlights major policy initiatives across Asia Pacific economies to support green initiatives and sustainable finance, including in China, Japan, Singapore, South Korea, Indonesia and Malaysia.
The report was released ahead of the United Nations Climate Change Conference or COP 30 which kicked off this week. Notably, the US has only sent low level officials to the conference.
US absenteeism only underlines the Trump administration’s failure to rally the rest of the world behind its anti-sustainability crusade.
So far, China appears to be the main diplomatic – and probably commercial – winner at COP 30. With Ding Xuexiang, vice premier of the country as its chief representative, China was already able to outgun the US diplomatically.
Ding’s speeches at the Belem climate summit on November 6 reinforced the point.
“China is a country that honours its commitments,” he said. “We need to strengthen international collaboration on green technology and industry, remove trade barriers and ensure the free flow of quality green products to better meet the needs of global sustainable development.”
Clearly such an agenda is very much in favour of China as well as for global sustainable development, given the country’s commanding lead in many green technologies. The US only has itself to blame for that.
COP 30 looks likely to further reinforce the great pivot away from the US as much as it serves to reinforce sustainability goals.
