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CLIMATE SCIENCE
Two-thirds of world see 'climate emergency': UN survey
By Marlowe HOOD
Paris (AFP) Jan 27, 2021

BlackRock pushes companies to set more ambitious climate targets
New York (AFP) Jan 26, 2021 - The head of the world's largest asset manager BlackRock on Tuesday called for companies to explain how they plan to reduce their net greenhouse gas emissions by 2050.

"I believe that the pandemic has presented such an existential crisis -- such a stark reminder of our fragility -- that it has driven us to confront the global threat of climate change more forcefully and to consider how, like the pandemic, it will alter our lives," Larry Fink wrote in his annual letter to chief executives.

"We are asking companies to disclose a plan for how their business model will be compatible with a net zero economy," said Fink, whose firm manages nearly $8.7 trillion of assets on behalf of pension funds, sovereign wealth funds, local authorities and wealthy investors.

Referring to recent climate-related disasters like "fires, droughts, flooding and hurricanes," Fink noted that energy companies have already taken "billions in climate-related write-downs on stranded assets and regulators focus on climate risk in the global financial system."

As the Covid-19 pandemic began in March, Fink said the "conventional wisdom" was that it would divert attention from efforts to fight climate change.

"But just the opposite took place, and the reallocation of capital accelerated even faster than I anticipated," he said, pointing to a jump in sustainable investing.

Fink said the fund itself will take steps to achieve the objective of zero net emissions by 2050, including by communicating the proportion of assets under management that are currently aligned with this objective.

The statement reiterates comments Fink first made last year, but BlackRock is often accused of inconsistency in its approach to fighting climate change.

Advocacy group Reclaim Finance recently denounced BlackRock's $85 billion in coal industry investments.

Nearly two-thirds of 1.2 million people polled worldwide say humanity faces a climate emergency, according to a UN survey, the largest of its kind ever undertaken.

Young and old, rich and poor, respondents in 50 nations home to more than half the global population also chose from a score of policy options to tackle the problem, researchers at the UN Development Programme (UNDP) and the University of Oxford reported Wednesday.

The findings suggest the grassroots global climate movement that surged onto the world stage in 2019 -- led, in part, by a then 16-year Greta Thunberg of Sweden -- is still gaining momentum, even if a raging pandemic has obscured its scope.

"Concern about the climate emergency is far more widespread than we knew before," Stephen Fisher, a sociologist at Oxford who helped design the survey and process the data, told AFP in an interview.

"And the large majority of those who do recognise a climate emergency want urgent and comprehensive action."

In a clever innovation, the short survey popped up like an advertisement on cell phone game apps, giving researchers access to demographics that might not otherwise respond to a public opinion poll.

- Gender gap -

At the national level, some 80% of people in Britain, Italy and Japan expressed serious foreboding about the impact of climate change, which has -- with a single degree of warming so far -- measurably increased the intensity of heatwaves, drought and flood-inducing rainfall, as well as storms made more destructive by rising seas.

France, Germany, South Africa and Canada were close behind, with more than three-quarters of those polled describing the threat as a "global emergency".

In another dozen countries -- including the United States, Russia, Vietnam and Brazil -- two-thirds of respondents saw things the same way.

Nearly 75 percent of residents in small island states -- some facing the prospect of losing their homelands to rising seas -- perceived the climate threat as an emergency.

They were followed by high income countries (72 percent), middle-income countries (62 percent), and Least Developed Countries (58 percent).

The distribution across age groups of those seeing an "emergency" was narrow, ranging from 69 percent among those under 18, to 66 percent in the 36-59 age bracket.

Only for people 60 and older did the figure dip slightly below 60 percent.

Surprisingly, 11 and 12 percent more women than men expressed high alarm about global warming in the United States and Canada, respectively. Globally, that disparity shrank, on average, to four percent among the 50 nations polled.

"Urgent climate action has broad support amongst people around the globe -- across nationalities, age, gender and education," noted UNDP chief Achim Steiner.

"But more than that, the poll reveals how people want their policymakers to tackle the crisis."

The most popular solution among those offered was protecting forests and natural habitats, selected by 54 percent of respondents.

- Virtuous 'tipping point' -

Following closely were the development of solar, wind and other forms of renewable power; the use of "climate-friendly" farming techniques; and investing more in green businesses and jobs.

At the bottom of the list, garnering support from only 30 percent, was the promotion of meat-free diets, and the provision of affordable insurance.

The survey results reinforce recent studies suggesting that some countries, and perhaps global society, could be approaching a virtuous "tipping point" in public opinion that would drive an accelerated transition to a carbon-neutral world.

"Achieving a rapid global decarbonisation to stabilise the climate critically depends on activating contagious and fast-spreading processes of social and technological change," researchers from the Potsdam Institute led by lona Otto and Hans Joachim Schellnhuber noted in the scientific journal PNAS last year.

Much like the spread of a contagious disease, positive social movements -- whether to ban slavery, or install democracy -- "can be irreversible and difficult to stop" once they cross a certain threshold, they note.

"There is recent anecdotal evidence that protests -- such as the #FridaysForFuture climate strikes, the Extinction Rebellion protests, and initiatives such as the Green New Deal in the US -- might be indicators of this change in norms and values taking place right now."


Related Links
Climate Science News - Modeling, Mitigation Adaptation


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