2023首席财务官在推动低碳过渡方面的作用报告（英文版）-CBI气候债券倡议组织

2023 TheroleoftheChiefFinancialOfficerindrivinglow-carbontransition 1.Foreword Acceleratingthetransitiontoalow-carbonfuture Thisguidanceismeanttoinspire,challengeandsupportChiefFinancialOfficers(CFOs)worldwideintheirworktoacceleratethelow-carbonclimatetransitionandimplementindustry-specificdecarbonisationplans. WhentheSustainableDevelopmentGoals(SDGs)werelaunchedin2015witha2030agenda,fewcouldhaveimaginedwhatlayahead.The2023SDGmid-pointstocktakerevealedmoderateorseveredeviationsfromthedesiredtrajectory,highlightinganurgentneedforincreasedeffortstoachieveasustainablefuture.1 Attheentitylevel,actionisnolongeranoptionbutanimperative.CFOsmustseizethisopportunitytoanticipateindustryleveltransition.Asstewardsoftrillionsofdollarsofcorporateinvestmentsworldwide,CFOsmustapplyvisionandambitiontotheirplanning process.Theymustbringlong-termcompetitiveadvantagetobusinessanddemonstratetotheirpeersbestpracticestoachievethelow-carbonclimatetransition. CFOsfacetheuniquechallengesofsatisfyingthedemandsofconsumersandclients,whileamplifyingenvironmentalandsocialvaluesandmeetingtheexpectationsofstakeholdersandshareholders.Tosucceed,sustainabilityandfinancemustmoveintandemtowardsthe commongoalsofreducinggreenhousegas(GHG)emissionsanddecarbonisingourplanet. Wefaceunprecedentedglobalchallenges.Nowmorethanever,wemusttakeurgentactionforabetterworld,andCFOshaveahugeopportunitytodotheirbest.Letthispaperbeyourguide. SandaOjiambo ExecutiveDirectorandCEOof theUnitedNationsGlobalCompact Sustainablefinanceasadriverforasustainablefuture TheworldofaCFOisaboutmanagingrisksandtakingadvantageofopportunities. Climatechangepresentsamixofboth. Ononehand,theworldfacesanenormouschallengeinaddressingclimatechange;theInter-GovernmentalpanelonClimateChangessaysthat,ifwearetoavoidcatastrophicclimatechange,weneedtoseeasaminimumglobalcutsinemissionsof60%by2035.Inthemeantime,theimpactsofglobalwarming(or “globalboiling”asUNSecretary-GeneralAntonioGuterrescallsit)arebeingfeltinincreasinglysevereheatincidents,storms,andfloods.TheWorldMeteorologicalOrganisationnowsaystheG20targetofholdingwarmingtoamaximumof1.5°Cwillbebreachedin2027;wenowneedtoactivelypursuesequestrationsolutionstogettemperaturesbackdown. Ontheotherhand,governmentsaroundtheworldhavenowcommittedtosharpemissionreductionsby2030,andsubstantiveactivity ismanifestinmini-boomscreatedbytheUSInflationReductionAct,intheEuropeanCommission’sREPowerEUprogramme,andinJapan’sJPY1tnGreenTransformation Programme.Withcleanpoweralreadygenerallycheaperthanfossilfuelpower,andelectricvehiclesmushroomingeverywhere,it’sbecomingclearthattheshapeoftheglobaleconomyistransforming.Thefuturehasbeendecided;theonlyquestionnowisthespeedofchange,andwhowillbewinnersandlosers. Investorsareacutelyawareofthis;that’sdriventherapidgrowthofwhatisnowaUSD4.2tnsustainabledebtmarket–oftenreferredtoas“theplacetosignalgreenchange”–andtheproliferationofpro-activeshareholdingandassetengagementstrategies. Allcompaniesarenowexpectedtobedevelopingtransitionplans(they’rebecomingmandatoryinEuropeandtheUK)toshowhowtheyaredealingwiththepressuresaroundclimatechange. Trillionsofdollarsofcapitalarestartingtoflowtoclimate-fitinvestments;transitionprojectandbusinessplansstandtounlocktensoftrillions. CFOsarecentraltothis. SeanKidney CEO,ClimateBondsInitiative 2.ReportSummary Climatechangetouchesoneveryaspectoflifeimpactingonpeople’shealthandlivelihoods,andextendingtoecosystems,infrastructure,supplychainsandthefinancialsector. Companieshaveanimportantparttoplayinthelow-carbontransitionwiththesenior managementteamatthecentre.However,theimpactoftheCFOmeritsfurtherinvestigation. Thisreport,producedinpartnershipwiththeCFOcoalitionfortheSDGsoftheUNGlobalCompact,setsouttodeterminehowCFOscantakealeadershiproleintheirentity’stransitiontonetzero,andseekstoidentifybestpractices.ItprovidesinsightsandmakesaseriesofrecommendationswhichcouldbeusedbyotherCFOsandsustainabilityofficerslookingtominimisetheimpactoftheirbusinessontheclimateandprotecttheirrevenuesfromtheimpactsofphysicalandtransitionrisks. TosupportCFOs,sectorspecificguidanceisnowavailabletoassistcompaniestoplan theirdecarbonisationsothatitalignswiththecommitmentsofthe2015ParisAgreementandG20onclimatechange.2Broadersectorneutralguidanceforcorporatesonhowtodeveloptheirclimatestrategiesandtransitionplanshasalsobeenpublishedinthelasttwoyears,andfinancialinstrumentsareavailabletosupporttheimplementation.3,4,5 ThefindingsandrecommendationspresentedinthisreportreflecttheresultsofClimateBondsfirstCFOsurvey.Thesurveywasbasedonconversationswith50respondentsfrom 32entities,conductedinthefirsthalfof2023.Respondentsrepresentedcompaniesoperatingin21GICSeconomicsectorsfrombothemerginganddevelopedmarkets(seeAnnex2,page18 ).AsoftheendofH12023,respondententitieshadcollectivelyissuedalignedgreenbondswithcumulativevolumeofUSD29.7BNandSLBswithcumulativevolumeofUSD49.2bn. RespondentswereeitherpartoftheCFOCoalitionoftheUNGlobalCompactorissuersofsustainability-linkeddebt. KeyFindings ClimateBondsconversationswithrespondentshighli