The initiative has evolved its core goals, improved and expanded the ways investors can participate, and enhanced the investor engagement model. The new phase, running until 2030, intends to inspire a global scale up in active ownership, markedly shifting the focus from corporate climate-related disclosure to the implementation of climate transition plans.
Draft standard enters next phase of consultation until June 2023, with final version scheduled for publication in Q3 2023. The standard will provide investors with a new tool to help assess diversified mining companies' transition plans to net zero.
The evidence is clear. Across the planet our economies and communities face systemic risks from climate change. To mitigate their exposure and secure ongoing sustainable returns for their beneficiaries, investors must ensure the businesses they own have strategies that accelerate the transition to net-zero emissions by 2050, or sooner and align with the goal of the Paris Agreement, of limiting average global temperature rise to well below two degrees Celsius above pre-industrial levels, and pursuing efforts even further to limit the temperature increase to 1.5 degrees Celsius.