Increasing sustainable investment is necessary to curb climate change.
Finance Finland participates in the Call on Carbon initiative, which aims to ramp up climate investments and increase the effectiveness of carbon pricing. Effective and reliable carbon pricing instruments are necessary in order to limit global warming to 1.5 degrees Celsius, but they would also promote a more stable and predictable investment market.
The Call on Carbon initiative reminds the participants of the United Nations Climate Change Conference that only less than a quarter of global greenhouse gas emissions are covered by carbon pricing initiatives while direct fossil subsidies are tenfold compared to the revenues raised from carbon pricing.
As major investors, creditors and insurers, Finnish financial sector companies have committed to several concrete actions to mitigate climate change. Global warming should be limited to 1.5 degrees Celsius to avoid catastrophic consequences for the environment.
“Steering capital towards sustainable investments is necessary, and we want to be part of this change”, says Piia-Noora Kauppi, Managing Director at FFI, signing the Call on Carbon initiative.