Category: Climate Justice

Empowering the World: UN’s Pioneering Initiative to Forge Global Resilience Through Advanced Early Warnings

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The 4 Pillars of the Early Warnings for All Initiative Pillar 1: Disaster risk knowledge, is led by UNDRR. Pillar 2: Detection, observations, monitoring, analysis and forecasting of hazards, is led by WMO. Pillar 3: Warning dissemination and communication, is led by the International Telecommunication Union (ITU). Pillar 4: Preparedness to respond, is led by the International Federation of Red Cross and Red Crescent Societies (IFRC).
The 4 Pillars of the Early Warnings for All Initiative

The UN Secretary-General, António Guterres, has launched the “Early Warnings for All” initiative, slated for completion by 2027, to develop advanced, multi-hazard, and people-centered early warning systems to protect every individual globally.

The “Early Warnings for All” Initiative

Initiated in March 2022 and with an action plan unveiled in November 2022, it’s founded on four pillars:

Despite the proven efficacy of such systems in mitigating disaster impacts, access is limited, especially in underdeveloped and small island nations. The initiative requires $3.1 billion over five years and is endorsed by Multilateral Development Banks, emphasizing its role in mitigating climate impacts and protecting lives, livelihoods, and environments.

The initiative, seeking collaborations across sectors and levels, aims to modernize global early warning systems and align them with climate action goals, focusing on integrity and justice. The systems will provide understandable and actionable warnings, enabling timely actions to minimize potential harm, especially in vulnerable regions like Africa, where 60% lack coverage. Investments of $800 million in developing countries could potentially avert $3-16 billion in losses annually. It represents a collective effort to safeguard vulnerable populations and emphasizes the importance of united actions in realizing the goals of this initiative.

Harnessing Data and AI in a Unified Response to Crises

In light of the multifaceted global crises exacerbated by climate change, advancements in AI, technologies, and data ecosystems offer transformative solutions. At the 78th UN General Assembly, discussions included harnessing technological breakthroughs for a resilient future and unlocking the potential of data, analytics, and AI to anticipate and mitigate crises and disasters. Emphasizing the need for innovative data-driven approaches, the discussions revolved around global initiatives like the Early Warnings for All initiative and the Global Climate Action Agenda, underlining collective efforts to build a more resilient world and achieve Sustainable Development Goals, aiming to leave no one behind.

The UN’s “Early Warnings for All” initiative exemplifies a collective stride towards global resilience and inclusive crisis response. It highlights a united commitment to employ innovative technologies, data analytics, and AI to lessen the impacts of climate change and disasters, especially for the vulnerable. This initiative symbolizes a united vision for a sustainable and equitable future, aiming to ensure security and well-being for all, emphasizing a future where every individual is accounted for and protected.

Millions March Around the World to Demand End to Fossil Fuels

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Map showing global marches between On September 15-17, 2023 demanding an immediate, equitable end to fossil fuelsOn September 15-17, millions marched around the world demanding an immediate, equitable end to fossil fuels.

On September 15-17, millions marched around the world demanding an immediate, equitable end to fossil fuels. This global movement peaked with the March to #EndFossilFuels in New York City on September 17, which preludes the first United Nations Climate Ambition Summit on September 20. U.N. Secretary-General António Guterres pressed global leaders to commit to phasing out fossil fuels.

The backdrop for these mobilizations is the intensifying climate crisis, evidenced by recent extreme heatwaves, floods, and severe weather events. As the climate threat grows, so does the worldwide movement for climate justice. These initiatives oppose the fossil fuel industry and its proponents, calling for swift transitions to greener alternatives. They called for a just transition to a renewable energy future that generates millions of jobs while supporting workers’ and community rights, job security, and employment equity.

Over 20,000 demonstrators took to the streets in Manhattan, including a 50-member delegation from New Mexico comprising Indigenous, environmental, youth, and frontline advocates. New Mexico, the second-largest oil producer in the U.S., has witnessed the country’s most significant oil production growth in the past three years. Bernal, Pueblo Action Alliance’s executive director, highlighted the collaboration of New Mexican grassroots movements with global initiatives. Their shared objective is to spotlight the financial exploitation and commodification of natural and cultural assets, demanding that leaders pursue genuine climate action, void of the damaging extraction that has marred their ancestral lands for centuries.

New Mexican representatives also presented a grassroots climate justice declaration to global, national, and state leaders. Supported by over 20 Indigenous and environmental entities, it lists imperative actions that are needed now to ensure a sustainable future. The demands encompass an end to new fossil fuel initiatives, immediate fossil fuel phase-outs, rejecting unproven solutions, emphasizing Indigenous ecological wisdom, and declaring a climate emergency to facilitate a fair transition.

Fridays for Future NYC, a youth-led climate activist group, mobilized high school students for the event. Despite juggling school, SATs, and college applications, these young activists dedicated their summer to organizing, recruiting hub captains from various schools, and expanding youth turnout. Even with the vast coalition for the march, Fridays for Future NYC focused on its community-based approach, ensuring young voices were heard.

The NYC March was supported by 500 organizations, including the NAACP, Sierra Club, the Sunrise Movement, the Center for Biological Diversity, Center for Popular Democracy, Climate Organizing Hub, Food & Water Watch, Fridays For Future USA & NYC, Earthworks, Greenfaith, Indigenous Environmental Network, New York Communities for Change, Oil Change International, and Oil & Gas Action Network.

The climate crisis is urgent, and we cannot afford to wait any longer. We must take action now to end fossil fuels and build a just and sustainable future. Join the movement for climate justice, and let your voice be heard.

Asset Managers’ Climate Pledges: Bold Promises or Mere Rhetoric?

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InfluenceMap

InfluenceMap Asset Managers and Climate Change Report: Climate analysis of the sector’s portfolios, stewardship, and policy influence, August 2023.

Despite the wave of global commitments towards achieving net-zero emissions by 2050, the recent study InfluenceMap Asset Managers and Climate Change Report: Climate analysis of the sector’s portfolios, stewardship, and policy influence by FinanceMap paints another picture. The world’s largest asset managers, controlling an astounding $72 trillion, are falling dramatically short of their ambitious climate pledges.

FinanceMap’s analysis scrutinized the strategies of 45 titan asset management firms. Their threefold criteria encompassed portfolio alignment with climate objectives, effective stewardship of their invested companies, and genuine engagement with sustainable finance policies. The results are concerning: a staggering 95% of portfolios failed to align with the imperative IEA Net Zero Emissions by 2050 Scenario.

The research also revealed that these financial behemoths are holding nearly three times the equity value in fossil fuel enterprises compared to their ‘green’ investments. The definition of ‘green’ here leans on the EU Taxonomy and Bloomberg data. Equally alarming is the 45% dip in top-tier Stewardship asset managers since 2021, those once hailed for their groundbreaking climate stewardship practices.

Though European asset managers, such as Legal & General Investment Management, BNP Paribas, and UBS, demonstrate commendable engagement with their investee companies, their American counterparts present a grim scenario. US firms like BlackRock, Vanguard, and Fidelity Investments have shown declining or consistently low stewardship scores, hinting at a worrying trend in the US’s approach to environmental, social, and governance factors.

Even as these revelations come to light, the irony lies in the fact that 86% of these asset managers are members of at least one industry group that actively oppose the very sustainable finance policies needed for global decarbonization.

Daan Van Acker, FinanceMap’s Program Manager, summarizes the situation aptly: “While they may talk the talk, most asset managers are not walking the walk.”

For access to the report, readers can visit FinanceMap.org.