Growing Returns

Selected tag(s): COP26

Banks take major step to turn climate commitments into action for global agriculture sector

Today at COP26, the World Business Council for Sustainable Development announced the Banking for Impact on Climate in Agriculture (B4ICA) initiative in partnership with EDF, the United Nations Environment Programme Finance Initiative and the Partnership for Carbon Accounting Financials.

Banks representing over 40% of global banking assets have already committed to aligning their portfolios with net zero emissions by 2050.

A major theme of this COP — the international climate change conference — is the urgent need to transition from commitments to action.

Action is needed to protect the agriculture sector from climate change, as farmers around the world are exposed to increasingly volatile weather that threatens global food security and rural livelihoods. At the same time, the sector must reduce its own greenhouse gas emissions, particularly potent methane and nitrous oxide emissions.

Fortunately, farms have the potential to reduce emissions, sequester carbon and build resilience — but farmers need support to make change at the scale and pace required to avoid major losses. Read More »

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Global leaders can’t fulfill their methane promises without agriculture

Methane pollution from energy, agriculture and other industries has emerged as a key focal point at COP26 as more than 100 countries, representing two-thirds of the global economy, pledged to cut methane emissions 30% by 2030.

This is a huge step.

Methane is one of the most potent GHGs that is expected to cause half of the projected temperature rise over the next two decades. By reducing emissions of methane — which has more than 80 times the near-term warming power of carbon dioxide — we can hit the brakes on the increasingly rapid warming responsible for stronger storms and hotter fire seasons. Read More »

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