Mark Carney, finance adviser to the UK Prime Minister for #COP26, says as climate change presents existential risk, those companies who are part of the solution will create enormous value. "It’s an opportunity for a lifetime." #GHS2020
"We will not get to net zero in a niche, it requires a whole economy transition," adds Mark Carney. As "what gets measured gets managed", the challenge for #COP26 will be creating meaningful metrics to ensure investors and companies are aligned with net-zero targets. #GHS2020
@Lagarde says the economic challenges of climate challenge are phenomenal, we are all responsible. "How much does it cost? A lot, but nothing that we can’t afford because the cause is our survival." #GHS2020
The transition to net-zero requires more information, says @Lagarde@ecb, to bridge the climate risks pricing gap - as well as innovation, so people in sunset industries can transition to sustainable jobs. One day we will not talk about green finance, just finance. #GHS2020
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All sectors must play their part to align with net-zero goals. ‘Everyone has a crucial role,’ from governments and banks to asset managers and financial regulators, said @antonioguterres#GHS2020
A ‘whole-government’ strategy will also be key, involving every department and agency, said Mary Schapiro. While regulations are important, so are other government decisions such as government procurement. #GHS2020
@KGeorgieva@IMFNews says there will be a "long ascent" for #COVID19 recovery. It's essential to focus on near-term, but we must seize this opportunity to address longer term challenges including climate change. 2.3% of GDP per year is required to meet climate goals. #GHS2020
@PaoloGentiloni@EU_Commission says it's encouraging to see other countries following Europe and the UK's lead in making climate commitments. "Meeting the goals of the Paris Agreement is a global effort." The private sector will be crucial to finance the transition. #GHS2020
@wef Founder and Executive Chairman Klaus Schwab says #COVID crisis will have 3 phases, or 3 ‘R’s: Restrain (the virus); Recover from it; and Reset the global economy to make it more resilient, socially fairer and ecological.
@wef’s Schwab sees 5 priorities for #TheGreatReset: make ‘social contract’ more inclusive; decarbonize the economy; ensure technology is used properly and ethically; get companies to serve all stakeholders not just shareholders; seek global cooperation to achieve all the above.
@iamwill@NaomiWadler@TaniaBryer@cnbcipr 1) "Struggling people are struggling people whatever your colour. But if you’re black in America, you have this added pressure that the police are weaponized against us. Our communities are a police state, it’s like a war zone." @iamwill, @naomiwadler#wef20
@iamwill@NaomiWadler@TaniaBryer@cnbcipr 2) Education is key to addressing inequality, says @naomiwadler: "If we only teach a child about one way to live, about the white scientists and the white politicians, they’re not going to grow up and respect the black ones. Education is flawed." @iamwill#wef20
@leehsienloong@borgebrende 1) As global power relations shift, Singapore has a significant role to play in the region, but has to strike a balance, says @leehsienloong: "We still want to be friends with everybody, but you are pushed to be better friends with one side or the other." @borgebrende#wef20