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The Science of Climate Change

Climate change is no longer a distant threat or just a possibility, it is now a reality for all of us. In this pathway, Kevin Trenberth, a renowned climatologist, delves into the science behind climate change. He first introduces the climate system, its main components and forces.

Tackling the Plastic Crisis

Plastic pollution is by far the biggest threat to our oceans and this remains an incredibly tough problem to solve. Plastic credits could potentially serve as one of the much needed solutions for this crisis.

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The Scale of the Net Zero Challenge

The price of meeting net zero is estimated to be between $100-150 trillion over the next 30 years. Regardless of this cost, we need to reach net zero before climate change does irreversible damage to the environment and the economy.

ESG, Sustainability and Impact Jargon Buster

ESG, sustainability, impact… they all just mean green, right? Not quite. Despite being used often interchangeably, there are distinct differences between these terms.

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The Science of Climate Change

Climate change is no longer a distant threat or just a possibility, it is now a reality for all of us. In this pathway, Kevin Trenberth, a renowned climatologist, delves into the science behind climate change. He first introduces the climate system, its main components and forces.

Tackling the Plastic Crisis

Plastic pollution is by far the biggest threat to our oceans and this remains an incredibly tough problem to solve. Plastic credits could potentially serve as one of the much needed solutions for this crisis.

More pathways

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+1,000 expert presented, on-demand video modules

Learning analytics

Keep track of learning progress with our comprehensive data

Interactive learning

Engage with our video hotspots and knowledge check-ins

Testing & certification

Gain CPD / CPE credits and professional certification

Managed learning

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Connect Sustainability Unlocked to your current platform

Featured Content

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The Scale of the Net Zero Challenge

The price of meeting net zero is estimated to be between $100-150 trillion over the next 30 years. Regardless of this cost, we need to reach net zero before climate change does irreversible damage to the environment and the economy.

ESG, Sustainability and Impact Jargon Buster

ESG, sustainability, impact… they all just mean green, right? Not quite. Despite being used often interchangeably, there are distinct differences between these terms.

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The Scale of the Net Zero Challenge

The Scale of the Net Zero Challenge

Mark Carney

UN Special Envoy on Climate Action and Finance

The price of meeting net zero is estimated to be between $100-150 trillion over the next 30 years. Regardless of this cost, we need to reach net zero before climate change does irreversible damage to the environment and the economy. This video helps us understand the need to reach net zero, outlines the cost of reaching net zero and finally explains where the money will come from.

The price of meeting net zero is estimated to be between $100-150 trillion over the next 30 years. Regardless of this cost, we need to reach net zero before climate change does irreversible damage to the environment and the economy. This video helps us understand the need to reach net zero, outlines the cost of reaching net zero and finally explains where the money will come from.

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The Scale of the Net Zero Challenge

9 mins 25 secs

Overview

The price of meeting net zero is estimated to be between $100-150 trillion over the next 30 years. Regardless of this cost, we need to reach net zero before climate change does irreversible damage to the environment and the economy. However, the scale of this challenge is enormous. At the core of the investment need is a complete overhaul of our energy system, emissions from electricity must fall 60% alone by 2030 and annual investment in clean energy will need to rise 3.5x to $4tn. We will need public and private financing to meet this goal.

Key learning objectives:

  • Understand why we need to reach net zero

  • Outline the cost of reaching net zero

  • Discuss where the money will come from

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Summary

What is the scale of the challenge?

Global temperature needs to stabilise at 1.5 degrees above the pre-industrial average, we are currently at 1.3 degrees. With current climate change policies, we are expected to hit 2.9 degrees warming. To stabilise temperature rises at 1.5 degrees, emissions need to half over the next decade, falling 7% year on year. 

An overhaul of the energy system is required, energy emissions from electricity along must fall 60% by 2030. Annual investment in clean energy will need to rise to $4tn, about 3.5 times what it currently is. 

What are the sources of finance?

Country commitments (NDCs) are on the rise but are not yet good enough. The IEA has concluded that the current stated policies would only limit temperature increases to 2.7 degrees, rather than the 1.5 degrees required. 

If the NDCs are seen as credible, investors will pour money in anticipation creating a virtuous cycle of large-scale investment, faster decarbonisation and greater jobs and growth. 

To make these NDCs credible, public finance support for critical infrastructure is required, however, only private finance can match the scale of climate action needed for the transition to net zero. 

How will we get the money where it needs to go?

To reach net zero climate-related financial reporting is critical. The push to require all financial institutions to publish climate-related financial reporting is underway, almost the entire financial sector demands TCFD disclosures for example. 

The IFRS has also established the International Sustainability Standards Board, which has published climate disclosure standards that aim to ensure financial transparency when it comes to sustainability.

The NGFS has grown to include 127 members and 20 observers in countries responsible for more than 80% of the world’s emissions and central banks in countries with 50% of global emissions are beginning to conduct climate stress tests. 

All of these initiatives aim to help investors identify and measure the returns and opportunities in the transition to net zero. 

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Mark Carney

Mark Carney

Mark Carney started his career at Goldman Sachs working in their offices across three continents. Following a decade-long career at Goldman Sachs, Mark was appointed Deputy Governor of the Bank of Canada in 2003. In 2004 he became Senior Associate Deputy Minister of Finance, a role he held until he was made governor of the Bank of Canada in 2008. In 2013 Mr Carney accepted the role of governor of the Bank of England, a position he held until 2020. In 2019 he was appointed as UN Special Envoy on Climate Action and Finance by UN Secretary-General António Guterres.

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