Commenting on the IPCC’s Working Group III report on the mitigation of climate change, Shelagh Whitley, Chief Sustainability Officer at the Principles for Responsible Investment, comments:

“Today’s IPCC’s report underlines the urgency of the climate crisis. To avoid a dangerous increase in emissions, we must cease new investments in fossil fuels and increase financial flows towards assets which facilitate the low carbon transition. Encouragingly, we know from today’s report that we have the solutions needed to halve emissions by 2030. We also know that there is sufficient global capital and liquidity to finance these solutions. Now, we must see urgent action to finance the solutions needed.

“Investors have a leading role to play in this process. The IPCC report notes that investors are raising awareness of climate change as a financial risk. However, climate-related financial risks, whether from physical climate impacts or from a disorderly transition to a low carbon economy, are still greatly underestimated by parts of the industry.

“The PRI will continue to work with our signatories to support and increase their ambition on climate issues. In addition, we will continue our collaborative work to ensure a supportive policy landscape exists to best enable the vital shift to a net zero economy. The IPCC report shows that there is no time to waste – urgent action is needed to secure the future of our planet.”


Commenting about the new resolution by the UN Environment Assembly (UNEA-5) to end plastic pollution, Shelagh Whitley, Chief Sustainability Officer, PRI said:

”The PRI welcomes the adoption of a resolution at the UN Environment Assembly (UNEA-5) to end plastic pollution and create an international legally binding agreement by 2024. Supported by 175 nations, it marks one of the most significant multi-lateral environmental deals since the Paris accord. Critically this new agreement will address the full lifecycle of plastic, considering its production and design, not just what happens to plastic waste. Plastic pollution is a global challenge and is a systemic issue for investors. Although policies and regulations on plastic use have risen dramatically in recent years, a new legally binding agreement has the potential to make a huge difference through harmonised goals and action from policymakers worldwide. The PRI has supported investors to understand risks and opportunities across the plastics value chain and address plastic pollution across the full plastic lifecycle. The PRI will continue to support investors to take action on this important and fast-moving issue, through its circular economy programme.”


Commenting after the launch of the IPCC’s report, “Climate Change 2022: Impacts, Adaptation and Vulnerability”, Sagarika Chatterjee, Director of Climate and Environment at the Principles for Responsible Investment, said:

“The IPCC has set alarm bells ringing loud and clear with this report. As a society, we are not acting rapidly enough to prevent the widespread impact of climate change, and we face a closing window to keep global warming to manageable levels. We stand at a cliff edge, facing the very real prospect of a world changed forever by the impact of man-made global warming. Billions of people will be affected by the damage climate change will do to our planet, it’s ecosystem, and our very way of life – unless we take drastic action now. International cooperation is at the core of this – a reality felt most keenly in the current geopolitical environment. Looking ahead, investors and governments need to act in concert to realise a global scheme of climate resilient development, which secures sustainable economic growth and preserves the future of our world.”