Ambition matters, but it must be realistic. There are many mismatch out there that need to be addressed to prevent further rollback. Of course the story is far more complicated than that, but the first gap to be fillled is deep investment in education (especially for middle aged, educated and middle income) to fight unfounded gut feeling of average person that climate change is a huge risk already and the high cost that we have to pay collectively and individually will be much higher if we delay it further. We can’t ignore that there is a general pushback by the public because of the cost of living and the additional high burden asked by the transition. If we cannot diluite the action anymore, and we can’t, we need burden sharing and must be explained honestly to build collective engagement and participation. We will have higher inflation, higher rates and higher debt for longer, but any delay will make things even worse for anyone, government, corporates and individuals. The reality sometimes hurts, but lies rarely bring better results.
Hence, we need to be realistic, but go ahead…like paying taxes…the more we are collectively the less we pay individually.
![View profile for Piero Munari, graphic]()
A very interesting article on the FT on a slow-down of corporates towards their net zero targets.
The article, however, highlights how some investors are focusing much more on companies’ #sustainability and #esg plans rather than #sustainable reporting.
Furthermore, governments and regulators need to take decisive actions on supporting the transition going forward, otherwise it will be extremely challenging for the corporate world to succeed.
“...But large investors who believe that climate change creates long-term risks to financial returns are increasingly pressing for evidence of action, rather than ambition.
For several years, groups such as Climate Action 100+, made up of 700 large investors, have pushed for companies to set net zero targets and outline risks around greenhouse gas emissions. Last year it shifted focus, moving away from what companies are disclosing to how they are actually implementing those climate plans.
But many investors also say that companies have their hands tied by an unstable regulatory environment.”
![How companies are starting to back away from green targets]()
How companies are starting to back away from green targets
ft.com
