London Climate Action Week was launched this weekend and London CIV, the pension pooling organisation is delighted to add its support to it.
As a part of London CIV’s Net Zero roadmap, it has signed COP26’s commitment letter on eliminating commodity-driven deforestation, as our forests play an invaluable role in climate change mitigation. In the letter, signed by London CIV and 30 other Financial Institutions it says:
‘…many of us have set net zero targets, made biodiversity commitments, and are taking immediate, results-driven action towards meeting them. We recognise the immense potential of addressing forest risk agricultural commodity-driven deforestation towards achieving our goals.’
Mike O’Donnell, CEO of London CIV added: ‘Acknowledging the urgency to protect our forests and its link to climate and human rights risks, London CIV has collaborated with a number of key institutions including Global Canopy, Systemiq, and Make My Money Matter. The group is currently developing a practical guidance to enable pension funds to identify, address, and eliminate deforestation, conversion, and associated human rights abuses from their investments. We are an active member of the deforestation-free pensions guidance working group with the ambition to provide practical guidance and consultation for Global Canopy and partners.’
In July, London CIV has a panel discussion with Global Canopy and NEST to talk about the practical steps pension funds can take to address deforestation and human rights risks, and meet their climate and biodiversity targets.
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