In 2019, two important events brought  investors and asset managers along with key political leaders and civil society to continue promoting the climate change agenda: the PRI in Person that took place in Paris and the United Nations Conference on Climate in New York. Furthermore, we saw a young activist lead a huge global protest requesting concrete actions towards climate change which has enliven the dialogue towards building a more resilient future for all.

Carla Chizmar, CIFI’s director of ESG, was invited to be part of the panel, “Realizing the SDGs: Investment Opportunities in Emerging Markets.” PRI in Person is the world’s leading conference on responsible investment. This initiative supported by the United Nations, provides tools for signatories to learn, collaborate and take action for responsible investment.

This year, the Pri in Person event was three days long and had more than 1,700 participants and over a 100 experts who discussed the latest trends in responsible investment.

Climate change is real. Science-based data has demonstrated the need for urgent action. According to the UN, the consequences of climate change could be irreversible by 2030 if the necessary measures are not taken into action.

A recent report prepared by United in Science warns that the 2015-2019 period was the warmest in history and that the concentration of greenhouse gases in the atmosphere has reached levels never seen before. All this will trigger a series of catastrophic consequences for the planet if no measures are taken to avoid it. Climate change, the document points out, implies additional pressure for the land and its ability to produce food, water, and maintain the state of well-being.

Now it is clear the reason why the term climate finance resonates in the conversation. In addition to the PRI in Paris, Spain also did its part in September during the Horizon 2030 day. The experts of the session presented different financial measures that have achieved important goals towards a green economy. They also state that the world has proposed that by 2020 will reach US$100 billion in investments for climate purposes.

The pressure comes from all angles. Grassroots movements are growing faster than ever, which leads to what is now called the “inevitable policy response.” Government-led initiatives are essential. However, we know that if the private sector does not carry its share of the burden, it will not be enough. We must continue to push this agenda faster and stronger than ever, acting with the conviction that the SDG’s represent investment opportunities in emerging markets, where this agenda may take much longer than we have thought if the private sector does not play a lead role in the conversation.

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