Commenting on The Intergovernmental Panel on Climate Change (IPCC)’s latest synthesis report, Lewis Johnston, Director of Policy at ShareAction, said:

"The IPCC report today has issued a final warning for the planet as it predicted the failure to reach the target of 1.5 global warming. This devastating analysis is a resounding call to governments and business to take urgent action to avoid a catastrophe for people, planet and species.

“The role of the financial sector will be vital if we are to succeed in the ambition to transition to net zero economies. That means businesses and investors must set out clear plans on how they intend to invest in green technologies. They must show how they intend to move away from investing in high-emitting industries and ploughing money into new oil and gas.

“Governments have a critical role to play in ensuring regulation is in place to make the financial sector work in the public and the planet’s best interests."

Ends

Notes to editors

ShareAction has been calling on the Government to ensure that its Financial Services and Markets Bill ensures the financial sector has the right incentives and regulations in place to support the transition to net zero – more information here.

For more than 15 years, ShareAction, the responsible investment NGO, has been working to shape a world where the financial system serves our planet and its people. Through research, campaigns and advocacy we mobilise global investors to drive up labour standards, tackle climate change, protect the natural world, and improve people’s health. We push policymakers to ensure the financial system is working in the best interests of people and planet. Visit shareaction.org or follow us @ShareAction to find out more.