This week Confluence launches the next phase in our call to action to support the Paris Agreement’s 1.5oC goal by celebrating and making public a list of those of our Members that have already made public commitments to achieve Net Zero. This list will be updated monthly.
The Intergovernmental Panel on Climate Change (IPCC) reports are clear – we are running out of time to avoid the very worst impacts of climate change. According to Yale Climate Connections, 2021 saw $343 billion in weather disasters displacing a reported 55 million people globally. Such disasters have steadily increased over the past 70 years. We must rapidly accelerate a transition to global net zero emissions by 2050, to limit warming to 1.5oC and avoid catastrophic societal, financial, and environmental costs. Reaching net zero and creating a sustainable and just global economy requires leading with emissions reduction strategies that shift to low- and no- carbon energy sources, evolve industrial and agricultural processes, reduce energy demand, and enhance natural carbon sinks. A variety of science-based reports estimate the need for investment in climate solutions at triple the current capital allocations to meet the net zero by 2050 goal.
In principle, values aligned investors must stand at the forefront of this massive economic and societal transformation by investing in climate solutions at the necessary size and scale to adequately reduce global emissions. By approaching investing as a united front against climate chaos, we can deploy disruptive capital, empower communities, and advocate for policies to advance a just transition. A critical step in this journey is a public commitment to implement a net zero, science-based strategy that sets the pace for a low carbon economy.
When used sparingly and with transparency, carbon offsets can ensure that emissions reducing projects and technologies create additionality, demonstrate immediate reductions impact, and are durable for decades to come. Carbon offsets must be verified by a reputable independent party. We encourage AVID+ as a useful tool.
Confluence Philanthropy celebrates those members that stand at the vanguard of sustainability and net zero planning. As our community continues to make these visionary commitments Member organizations will be cited here.
The list will be updated regularly. Please notify Jason K. Babbie, Vice President of Programs & Climate Solutions Director, when your institution has made a public commitment to net zero by 2050. We want to ensure that your organization gets the deserved recognition.
