Citi releases three climate research reports at COP27
On November 7, Citi announced the release of three reports regarding its climate research ahead of the 2022 UN Climate Change Conference (COP27) in Smarm El Sheikh, Egypt.
The first one, Climate Finance – Mobilizing the Public and Private Sector to Ensure a Just Energy transition, will be launched at COP27 on November 9 in collaboration with the UN Framework Convention on Climate Change (UNFCCC). It analyses climate financing in institutions both in the public and the private sector and looks at how it is possible to mobilize investment to make the world reach its climate goals (as zero net emissions by 2050) while boosting the economy in both developed and developing countries. In fact, to reach net zero by 2050 the economy would need a capital investment of about $125 trillion, with $2.6 trillion a year for the next five years and $3.6 trillion a year in the following five years. However, in 2020 the total investment was significantly lower at about $600-900 billion.
A second report, regarding food security, will be presented on November 10 at the Climate Change conference. Firstly, the research looks at the current crisis and its consequences beyond human suffering. Agricultural disruptions generate profound economic repercussions since in low-income countries agriculture represents more than one quarter of GDP and employs close to 60% of the workforce. The problem is exacerbated by the fact that climate-related disruptions are becoming more frequent and severe. Moreover, food insecurity is a key element in civil unrest and migration and, thus, results in serious social and geopolitical issues. Secondly, the research examines potential solutions to better the current situation. Solutions are divided into social ones, such as food waste, solutions in technology, at a public sector level and financial ones.
Finally, the third report concerns the energy transition. At COP26 in Glasgow in November 2021, there was consensus around the idea that zero net emissions could be achieved by 2050. However, the Russia-Ukraine war threatened this goal. Citi’s research is divided into two volumes: the first one, Mixed Momentum on the Path to Net Zero looks at how these recent events influenced the commitment made at COP26 and what can be done to keep momentum in the energy transition, and the second one, Building Bridges to Renew Momentum, studies the funding requirements and the tools necessary for the energy transition.
Additionally, Citi will host a panel event at COP27 on November 10 to present its research on what the public and private sectors can do for a sustainable ocean economy, which is essential for maintaining the global climate and preventing biodiversity losses.
Sources:
Author: Sofia Maiellaro
Citi releases three climate research reports at COP27
On November 7, Citi announced the release of three reports regarding its climate research ahead of the 2022 UN Climate Change Conference (COP27) in Smarm El Sheikh, Egypt.
The first one, Climate Finance – Mobilizing the Public and Private Sector to Ensure a Just Energy transition, will be launched at COP27 on November 9 in collaboration with the UN Framework Convention on Climate Change (UNFCCC). It analyses climate financing in institutions both in the public and the private sector and looks at how it is possible to mobilize investment to make the world reach its climate goals (as zero net emissions by 2050) while boosting the economy in both developed and developing countries. In fact, to reach net zero by 2050 the economy would need a capital investment of about $125 trillion, with $2.6 trillion a year for the next five years and $3.6 trillion a year in the following five years. However, in 2020 the total investment was significantly lower at about $600-900 billion.
A second report, regarding food security, will be presented on November 10 at the Climate Change conference. Firstly, the research looks at the current crisis and its consequences beyond human suffering. Agricultural disruptions generate profound economic repercussions since in low-income countries agriculture represents more than one quarter of GDP and employs close to 60% of the workforce. The problem is exacerbated by the fact that climate-related disruptions are becoming more frequent and severe. Moreover, food insecurity is a key element in civil unrest and migration and, thus, results in serious social and geopolitical issues. Secondly, the research examines potential solutions to better the current situation. Solutions are divided into social ones, such as food waste, solutions in technology, at a public sector level and financial ones.
Finally, the third report concerns the energy transition. At COP26 in Glasgow in November 2021, there was consensus around the idea that zero net emissions could be achieved by 2050. However, the Russia-Ukraine war threatened this goal. Citi’s research is divided into two volumes: the first one, Mixed Momentum on the Path to Net Zero looks at how these recent events influenced the commitment made at COP26 and what can be done to keep momentum in the energy transition, and the second one, Building Bridges to Renew Momentum, studies the funding requirements and the tools necessary for the energy transition.
Additionally, Citi will host a panel event at COP27 on November 10 to present its research on what the public and private sectors can do for a sustainable ocean economy, which is essential for maintaining the global climate and preventing biodiversity losses.
Sources:
Author: Sofia Maiellaro
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