Drawing on data and insights from across
S&P Global, the report analyzes the physical risks of climate
change and the challenges of limiting global temperature
rise to below 2 degrees Celsius
NEW
YORK and LONDON,
Nov. 29,
2023 /PRNewswire/ -- With political and business
leaders due to begin gathering in Dubai this week for this year's UN
Climate Change Conference, S&P Global has released new research
highlighting the need for an expedited energy transition, in a
special edition of its quarterly sustainability report titled,
"Advancing the Transition."
Drawing on data and insights from across S&P Global, the
report casts a new light on the challenges, risks and opportunities
as the world looks to meet the goals of the Paris Agreement to
limit global temperature rise to well below 2 degrees Celsius. It
explores key aspects of the transition, including evolving climate
disclosure rules, steps that automakers are taking to decarbonize,
and physical risks that climate change poses to countries and
companies absent significant global action.
"As the international community unites to discuss the climate
crisis, the need for an all-hands-on-deck approach from business
and policymakers across the globe couldn't be more pressing,"
said Dr. Richard Mattison, Vice
Chair of S&P Global Sustainable1. "Our comprehensive
research underscores the dangers posed to nature and biodiversity,
and the physical risks the current climate warming trajectory could
have on markets, investors, and communities, while providing a
roadmap for global leaders to collectively mitigate the negative
impact of the global climate threat."
You can find full report here
Highlights from the report include:
1. Lost GDP: Potential impacts of physical
climate risks: Physical risks linked to climate change may
become an increasing source of supply-side shocks for the global
economy, particularly if adaptation and resilience investments are
not stepped up.
2. Quantifying the financial costs of climate change
physical risks for companies: Without adaptation
measures, the physical impacts of climate change represent a
significant financial risk for many companies.
3. Climate transition risk: Historical greenhouse
gas emissions trends for global industries: This
research highlights the industries that are more exposed to climate
transition risks, including those related to climate policy, and
legal, technology and market changes to address mitigation.
4. How automaker decarbonization efforts can reach
Paris Agreement targets: S&P Global Mobility
analysis shows that automakers building EVs may not be enough to
hit Paris Agreement goals.
5. Navigating CSRD: Global implications and corporate
readiness: EU corporate sustainability reporting
rules are evolving, and S&P Global Market Intelligence explores
implications for other parts of the world.
6. Will oil and gas producers lose access to external
financing as lenders decarbonize?: How will
financial institutions respond to ever-changing regulations and
policies on net-zero GHG commitments, stakeholder pressures and
competing energy technologies?
7. Islamic finance's role in the climate
transition: Global harmonization of Islamic
finance principles could smooth the process for issuing sustainable
sukuk to fund climate change mitigation measures in core
markets.
8. Middle East
sustainable bonds may expand further: Heightened
exposure to climate change, as well as government initiatives and
company pledges, will fuel sustainable, mostly green, bond
issuances in the Middle East.
About S&P Global
S&P Global (NYSE: SPGI) is the world's foremost
provider of credit ratings, benchmarks and analytics in the global
capital and commodity markets, offering ESG solutions, deep data
and insights on critical economic, market and business factors.
We've been providing essential intelligence that unlocks
opportunity, fosters growth and accelerates progress for more than
160 years. Our divisions include S&P Global Ratings, S&P
Global Market Intelligence, S&P Dow Jones Indices and S&P
Global Platts. For more information,
visit www.spglobal.com.
About S&P Global Sustainable1
S&P Global Sustainable1 is the central source for
sustainability intelligence from S&P Global. Sustainable1
matches customers with the ESG products, insights and solutions
from across S&P Global's divisions to help meet their unique
needs. Our comprehensive coverage across global markets combined
with in-depth ESG intelligence provides financial institutions,
corporations and governments an unmatched level of clarity and
confidence to successfully navigate the transition to a sustainable
future. Our data and well-informed point of view on critical topics
like energy transition, climate resilience, positive impact and
sustainable finance allow us to go deep on the details that define
the big picture so customers can make decisions with conviction. To
learn more, please visit: www.spglobal.com/esg
Media Contacts:
Sabrina Mayeen
+ 44 (0) 7967 447030,
sabrina.mayeen@spglobal.com
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SOURCE S&P Global