This week, global management and consulting firm, McKinsey & Company released a new report highlighting that a $4 trillion investment would be required to tackle the material shortages of key materials and achieve global decarbonization targets. This investment would be required to bridge the materials gap that is crucial to sustainability.

This week, The World Bank approved $1.5 billion in financing to support India's low-carbon transition. This approval represents a massive step towards addressing climate change and promoting sustainable development in India.

Since June 2019, the concept of achieving net zero emissions has gained significant traction across the globe. In 2021 following the UN Climate Summit in Glasgow (CO26) 90% of the global economy was on board with net zero plans. As the urgency to combat climate change grows, governments, subnational entities, and corporations are setting net zero targets to align with the goal of limiting global warming. As defined by the Net Zero Stocktate 2023 report there are three phases of net zero; accepting the principles of net zero, pledging to get there, and delivering on those pledges. Today we will provide a brief summary of the Net Zero Stocktake 2023 report, which analyzes the status and trends of net zero target setting.

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Sustaira Summarizes: Net Zero Stocktate 2023

This week, the World Business Council for Sustainable Development (WBCSD) released their new report "Net Zero Buildings - Halving construction emissions today." This report highlights that we need to cut emissions in half in the built environment by 2030, and then outlines practical steps that could be taken to do so. Through the report and executive summary, we’ve put together our own summary of what you need to know.

The Net-Zero Insurance Alliance (NZIA) launched this week the first ever target-setting protocol for insurers at the World Economic Forum’s annual meeting in Davos, Switzerland. This protocol is expected to accelerate the transition to a global net-zero economy by enabling NZIA members to set science based intermediate targets to transition insurance underwriting portfolios to net-zero. Version 1.0 requires that existing NZIA members will set and discloser their target(s) by July 31st 2023, which is just around the corner.