Franklin Templeton has contributed to the 2022 Global Investor Statement to Governments on the Climate Crisis, which was submitted to governments before COP27. In total, there were 604 investor signatures representing US$ 42 trillion in assets under management. The statement represents a unified investor call on governments to implement the policy actions needed to address the climate crisis and accelerate the transition to a net zero emissions economy.
In the 13th and most ambitious statement to date, investors from 33 countries around the world have urged governments to implement five priority policy actions including: medium- and long-term climate strategies, transitioning energy away from fossil fuels, ending deforestation, bolstering climate finance, and strengthening disclosures.
The full asks can be found in the statement but a summary is as follows:
- Ensure that the 2030 targets in their Nationally Determined Contributions align with the goal of limiting global temperature rise to 1.5°C.
- Take early action to ensure these targets are met by implementing domestic policies across the real economy, including carbon pricing mechanisms, a deadline to phase out subsidies for fossil fuels and thermal coal power, and targets to peak and then phase out the use of other fossil fuels, while developing transparent just transition plans and guaranteeing long-term resilience and energy security.
- Contribute to the reduction in non-carbon dioxide greenhouse gas emissions and support the effective implementation of the Global Methane Pledge to reduce emissions by at least 30 percent from 2020 levels by 2030.
- Enable climate finance from the public and the private sector for mitigation, and for adaptation and resilience, with a particular focus on the needs of developing countries.
- Strengthen climate disclosures across the financial system, including transition plans.
The statement is coordinated by the seven Founding Partners of The Investor Agenda – AIGCC, CDP, Ceres, IGCC, IIGCC, PRI and UNEP FI. Together, these investor groups have collaborated to bring together and elevate the best investor guidance on tackling the climate crisis and advocate collectively for public policy to accelerate the net-zero transition.