This year’s Conference of Parties of the UNFCCC (COP27) will take place in Sharm El-Sheikh, Egypt, on 6-18 November, and brings together public and private sector stakeholders as well as non-governmental and civil society actors from all over the world to discuss the most pressing issues around climate change and transition to sustainable global economy.
Building upon the progress achieved with the signature of the Glasgow Climate Pact and the Paris agreement, the Sharm El-Sheikh Climate Change Conference is expected to follow the roadmap laid out during COP26. One of the key takeaways of last year’s conference was the recognition of the role of both public and private finance in transition towards a climate-resilient economy. In turn, for the finance sector, the commitment to sustainability implies a greater emphasis on transparency and disclosure.
One thing is certain - the only way for businesses and financial services firms to contribute to a better future is through implementing change and switching to ESG-conscious, more responsible operating models.
The upcoming COP27 will be dedicated to four major themes - mitigation, adaptation, finance and collaboration – and will notably focus on shifting from pledging to accelerating and upscaling sustainable transformation. Among the main goals of this year’s conference is the elaboration of a new strategy for mobilising and delivering climate finance in view of the current financial crises, as well as integration of the notion of climate benefits – and not just risks – into the consideration of companies and financial institutions.
Our experts around the world are here to guide you through the outcomes of COP27, enabling you to remain informed and proactive in your response to the global threat of climate change. Below are a growing range of insights across the themes of COP, with further content added during and following the conference to support your journey o a sustainable future.
At Mazars, Sustainability and ESG remain among our top priorities and at the core of our corporate identity. We believe in leveraging our multidisciplinary expertise, knowledge and innovative tools to support our clients in their transformation and evolution towards greener business models. Our Sustainability and ESG services include:
One of the key features of COP26 was recognition that the scale and speed of the changes needed to transition to a more sustainable economy require all forms of finance. Public finance to develop infrastructure to transition to a greener and more climate-resilient economy, and private finance to fund technology, innovation, research, and sustainable business models.
Loss and damage caused by extreme weather events such as drought, rising sea levels and the recent devastating floods in Pakistan hit the headlines at the opening of COP27. While financial pledges and initiatives to help with loss and damage have been evolving for years, consensus and formal agreements on feasible action plans still need to be improved.
If we want to improve adaptation measures, we must change the narrative and start viewing COP as an opportunity. While it can be frustrating, it’s not just about speed of outcomes. When people convene for a set purpose to vocalise issues from a local and global perspective, it can be very productive in raising awareness and putting different points of view out there. Robust discussions are needed...
'Let’s talk sustainability' is the Mazars podcast series that explores the evolving sustainability landscape for business. In each episode, we hear from experts on a range of environmental, social and governance issues, as they share best practices for building solid sustainability strategies and identify varied and valuable opportunities for business.
For companies to succeed in the 21st century, sustainability and social responsibility must be at the heart of their business model.
In April 2021, the European Commission adopted the draft Corporate Sustainability Reporting Directive, or CSRD, which significantly strengthens the current sustainability reporting requirements of the Non-Financial Reporting Directive (NFRD) and expands the scope of companies concerned.
The Taxonomy regulation was adopted in June 2020 by the European Union and is a key element of the European plan to finance sustainable growth. Download Mazars Taxonomy brochure and learn more about the objectives of the new legislation.
With societal expectations increasingly permeating corporate governance, companies need to evolve their business models to embrace lasting value creation that benefits not only the shareholders, but also internal and external stakeholders as well as wider society.
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