On 9 August, IPCC released their latest report detailing the extent of the impact of the climate crisis, and warning that the Paris climate agreement’s ambitions of limiting global warming to 1.5C will be breached within the next two decades.
The report said human activity is changing the Earth’s climate in ways “unprecedented” in thousands or hundreds of thousands of years, with some of the changes now inevitable and “irreversible”, and called for an end to new coal plants and to new fossil fuel exploration and development, and for governments, investors and businesses to pour all their efforts into a low-carbon future. “This report must sound a death knell for coal and fossil fuels, before they destroy our planet,” António Guterres, the UN Secretary-General, said.
Responding to the IPCC’s report, Glennmont’s CEO Joost Bergsma said:
“We note the Intergovernmental Panel on Climate Change’s (IPCC) sixth Assessment Report, published yesterday, which provides a stark warning of the increasing impact that human activity is having on our climate and the need for decisive action from governments to rapidly accelerate decarbonisation. The comprehensive analysis from the IPCC reflects the underlying investment thesis of Glennmont and our ambition to support the global climate effort through responsible investment in the technologies which can help shape a clean energy future. Glennmont’s proactive approach to reducing carbon emissions is reinforced by our parent company Nuveen’s own vision to deliver of a net zero future, where responsible investing can drive better outcomes for investors, our communities and our planet.
Glennmont have been committed to tackling climate change for over a decade and we strongly believe, now more than ever, that the transition of power generation from fossil fuels to renewable sources represents one of the main tools at our disposal to achieving net zero by 2050.”