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What is the purpose of SDG 13: Climate Action?

SDG 13 takes urgent action to combat climate change and its impacts. With the rising greenhouse gas emissions, the responsibility for minimising these effects had become vital. The increases in greenhouse gas concentrations are driving negative change at a high rate. Above all, SDG 13 encourages to overcome this problem by implementing climate change measures into strategies, planning, and policies. Moreover, the goal is to improve education and raise awareness in order to adapt and reduce impact.

Reasons for working with SDG 13:

Global warming continues to break annual records, with the strongest storms, hottest years, longest droughts and more. The arctic ice is melting at an alarming rate. Moreover, the global average sea level rose 19 cm between 1901 and 2010.

Currently, the average annual losses from tsunamis, tropical cyclones and flooding amount to hundreds of billions of dollars. What is more, the frequency and severity of such natural disasters continue to increase due to global warming. 2019 was the second warmest year on record and brought many bushfires, including Amazon rainforest wildfires.

View of land after tsunami
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If not curved, global climate change will threaten the wellbeing of billions of people around the globe.

How is 2030 Builders addressing Climate Action:

With the political will and a wide array of technological measures, we should limit the increase in global temperature to two degrees Celsius, in comparison with pre-industrial levels. This requires urgent collective climate change action. We need to help more vulnerable regions adapt to climate change. Additionally, investing in climate mitigation technologies is crucial. Most importantly, governments and businesses need to integrate ambitious climate change measures into both international, and national policies, strategies, and planning.

Polar bear on iceberg
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Making sure that we take action on the upcoming climate challenges can ensure survival of polar bears.

What do companies do to address Climate Action:

Abbott – Ensuring vital healthcare needs when disaster strikes

Abbott has created an Executive Crisis Management Team (ECMT) to ensure Abbott’s continued ability to fulfil vital healthcare needs in communities around the globe and to support its stakeholders and mitigate risks to its supply chain. This is in response to the increased frequency and severity of natural disasters. These disasters increase demand for critical food and medicines, while also complicating the delivery of these lifesaving products. The ECMT is tasked with: managing the safety and security of Abbott employees, managing the risks to business continuity, and being prepared to serve others during catastrophic events. ECMT is comprised of two senior leadership teams with cross-divisional, multifunctional representation. Having two teams ensures full-shift coverage of a crisis with around the clock management, when necessary. Abbott also has a network of trained Crisis Action Teams which include 32 country-specific Crisis Action Teams that manage events locally and support the ECMT as necessary.

(Source: SDG industry matrix – Healthcare & Life Sciences)

HSBC – Shaping the market for green bonds:

HSBC is one of a number of financial institutions that are playing an important role in shaping the fast-developing green bond market. Also, for more than 10 years, HSBC has been working with its business customers to help them understand and manage their environmental and social impact with a focus on certain sectors and themes. HSBC assesses and supports customers using its policies, which it regularly reviews and refines. HSBC’s Energy Sector Policy severely restricts the bank’s support for coal-fired power plants, while recognising that the shift to a low carbon economy will take time and that fossil fuels will be an important part of the global energy mix for the foreseeable future.

(Source: SDG industry matrix – Financial Services)

YES BANK – Renewable energy commitments:

YES BANK issued India’s first Green Infrastructure Bonds to raise INR 10,000 million (US$160 million) to exclusively fund its renewable energy commitments, thus opening the door for this instrument in India. The INR 5,000 million issues, with a greenshoe option, was oversubscribed demonstrating strong demand for these instruments in India. In August 2015, YES BANK raised another INR 3,150 million (US$50 million) from the International Finance Corporation (IFC) through its Masala Bonds launched on the London Stock Exchange, which was the IFC’s first investments in an emerging market’s green bonds.

(Source: SDG industry matrix – Financial Services)

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