COP26: Asset Managers Representing $87T Vow to Stop Financing Deforestation
edie | 6 November 2021
Major financial institutions have pledged to stop financing agri-food firms linked to deforestation by 2025. With AXA, Aviva and Fidelity among signatories, the commitment reflects the businesses’ recognition of the increasing urgency to address climate change and food security risks whilst representing the best long-term interests of their investors, clients and beneficiaries. This news is underpinned by the latest FAO report which finds that 90% of global deforestation is caused by agricultural expansion.
Leading Supermarkets Pledge to Make UK Shopping Baskets Greener
Food Navigator| 8 November 2021
Great news for the food industry this week as Tesco, Waitrose and three other major UK supermarkets sign WWF’s Retailers’ Commitment for Nature. This joint commitment will aim to halve the nature and climate impacts of food systems by 2030. According to WWF, the retailers will focus on seven urgent environmental issues the food system has an impact on, such as climate change, deforestation and food waste, reporting on their progress annually.
Nature and Climate Protection Pledges Pile Up at COP26
Reuters| 8 November 2021
On Saturday, 45 nations pledged to step up the protection of nature and to overhaul farming at the COP26 climate talks. Despite similar past pledges falling short, the parties agreed on reforms that would protect nature and feed a growing population whilst curbing greenhouse gas emissions. However, pledges on livestock emissions and consumption still seem to be lacking in countries’ plans for tackling climate change.
Graphic of the Week:
Source: The Guardian
More Food for Thought
No One-Size-Fits-All Solution for Food Systems | Hannah Alcoseba Fernandez | Eco-Business
Negotiators Edge Closer to Global Carbon Market Deal at COP26 | Ewa Krukowska and Isis Almeida | Bloomberg