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Climate Week Starting Today: What Does Finance Do?

A week of mobilization for climate and environment. A Deloitte research records positive signals in companies

Climate Week Starting Today: What Does Finance Do?

The vast majority of Italian top managers declare that they have increased the investments in sustainability. This is what the latest Deloitte study on over 2 thousand interviewees says. However, today the “Global week of action for climate finance and a fossil-free future” until September 20th to explain and mobilize on climate change. The fight needs money, companies have started to deal with sustainability reports and the introduction of technologies, taking a step further than politics. Thinking that they will not stop is a widespread feeling. The one-week mobilization concerns the next global appointments, the Cop29, the UN Future Summit, the Global Renewables Summit and avoid them becoming inconclusive catwalks.

Europe itself is in breakdown, despite having to make new decisions. The Italian demonstration was also joined by the Cgil, which in a note underlines how the world "needs a rapid, fair and just transition, but the issues of climate finance, the gradual elimination of fossil fuels and the just ecological transition are increasingly critical and far from being achieved". The union is aligned even though the green economy is causing so much discussion in the workplace. It is wrong to leave the baton of defending jobs against green in the hands of the right. But perhaps something is changing.

The UN climate conferences, but also the various G7 and G20 have not yet made decisions that are up to the situation. Money and technology are the levers to bring about change without causing further social, economic and cultural dramas. The impressive fact is that world leaders all declare themselves ready to stop the disasters of climate change, but then in practice and in decisions, they disappoint. "The time to affirm a radical transformation in our social, economic and political systems is now, before it is too late" writes the Cgil. Fitto ithe calendar of initiatives of the “Global Week of Action” with each day dedicated to a different theme: fossil fuels, Just Transition, International Financial Institutions and Multilateral Development Banks, Tax Justice, False Solutions. September 20th is the day highlight on the topic of climate finance.

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