Paris Anniversary Marked by New Finance Initiative

Participating countries issued new commitments related to the three pillars of the Paris Agreement at the Climate Ambition Summit 2020.

Major finance sector coalitions and non-governmental organisations have pledged provide coordinated support to the COP26 Presidency and the Race to Zero under a new umbrella grouping.

The COP26 Finance Coalition Coordination Mechanism (FCCM) was announced ahead of the 2020 Climate Ambition Summit, jointly organised by the United Nations and the UK and French governments to mark the fifth anniversary of the Paris Climate Agreement.

The FCCM is aimed at ensuring finance sector-focused initiatives are aligned with the objectives of next year’s COP26 climate conference in order to better coordinate efforts at mobilising financial institutions and service providers in support of climate action.

Participating entities include the Principles for Responsible Investment, United Nations Environment Program Finance Initiative, WWF International, and the six founding partners of The Investor Agenda.

The FCCM consists of cross-organisational teams focused on specific jurisdictions. The work … [continues

Read the full article on Regulation Asia’s sister publication, ESG Investor.

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