Global Stocktake’s ‘shift the trillions’ call turns climate spotlight on private sector

THE first progress report of the 2015 Paris Agreement climate pact highlights the important role of the private sector for a “whole-of-society” approach to curb global warming, industry observers told The Business Times.

“From a finance point of view, from a corporate point of view, there are some really important signals in here,” Thomas Tayler, head of climate finance at insurance company Aviva, said shortly after the Global Stocktake report dropped on Friday (Sep 8).

He said the multi-year trend of the United Nations climate-change conferences – known as Conferences of the Parties, or COPs – has been an increasing emphasis on everybody playing a part, not just governments.