The top head of the Corporate Sustainability of the United Nations warned business leaders that they could no longer neglect the growing “division of north-south” to climate change.
Sanda Ojiambo, Executive Director and CEO of UN Global Compact – Bodies responsible for overseeing business liabilities to achieve sustainable development goals – CNBC told CNBC Steve Sevengewick that “the climate has become a political issue,” describing the breakup between the rich and the poor nations as “the greatest gap.”
Speaking on the CNBC board that discusses the challenges and opportunities for companies in search of climate goals of net-on-the-Economic Forum in Davos in Switzerland, the UN director warned that the divisions between the global north and the global south created “tension” Global level tension “among business and creators of politics.
“You can’t neglect this no matter where you are in the world,” she said.
Climate conversations at Cop29 Summit in Baku, Azerbaijan, ended up in Acrych’s in November, and left a development nation impressed with the financial obligations of the rich world.
Global southern leaders and activists on The top of the climate remained an angry financing contract of $ 300 billiona weak obligation compared to $ 1.3 trillion required for climate adjustment.
At one point, delegates of the poor and small island countries came out frustrated because of what they called the lack of involvement, they are concerned that the countries that produce fossil fuels want to reduce the aspects of the agreement.
Ojiambo warned of the consequences of divisions and tensions due to climate finance.
Sanda Ojiambo, Executive Director and Executive Director of the United Nations Global Compact.
Leigh Vogel | Getty Images Entertainment | Getty Images
“He squeezes adequate flow of capital, suffocates technology exchange, confidence is broken,” she said, warning business leaders that “I can’t neglect politics” and have to “work in it” instead.
Strengthening a public-private partnership with a “affordable capital” for “global southern” companies is vital to cure “a broken world,” UN added.
“The anxiety and the anger of” the global south is reduced to the production of “the least amount of emissions”, while “the most affected climate action,” Ojiambo said.
Air conditioners warn That the growing sea level, the frequent cyclones and the insecurity of food are an existential threat to small island countries in the Caribbean and the Pacific.
Growth of 1.5 ° C in global average temperatures would increase floods and extreme drought, which is already experienced in Africa, a home for 32 of the 48 least developed countries in the world.
And scientific warnings and divisions have led the world to “turning point”, Ojiambo added.
AND Report published by un. 2023 found that the G20 countries were responsible for 76% of global shows.
“If we can get a significant amount of big players to bring us just where we need to come in terms of these goals, this is one piece. And then we can work on the rest,” she told Davos Panel.
Opportunity to invest ‘native lenses’
Parts of gender could be a major opportunity for business leaders to achieve sustainability goals.
Katherine Garrett-Cox, CEO of GIB Asset Management and CDP president of Worldwide CDP, global non-profit organization, said companies have to apply “gender lens” to unlock finances.
“Usually companies that run women are more concerned about this topic,” she said, adding that the improving investment would be “significant”.
“Investing native lenses is still very initial,” Garrett-Cox said.
According to Gender Financing Network 2x GlobalInvesting in gender lenses, almost $ 8 billion invested in the private market in 2023.
