Asset owners representing USD $5.8 trillion of assets-under-management attended a high-level workshop co-organized by UNEP FI on “Mobilizing Financial Markets to Catalyze Economic Decarbonization”. The high level meeting represented an excellent opportunity for both governments and investors to discuss how the finance sector can take the lead on economic decarbonization, and the most promising approaches for investor action. It was attended by the French government’s special envoy on climate change and UN Assistant Secretary General on Climate Change Janos Pasztor.

The workshop is a follow up to efforts to mobilize the financial sector behind decarbonization that began at the UN Climate Summit in September 2014. By demonstrating the tremendous momentum coming from the private sector, UNEP FI hopes to support a meaningful agreement at the Conference of the Parties in December 2015. Between now and COP 21, UNEP FI’s Portfolio Decarbonization Coalition (PDC) will assemble a coalition of investors who in aggregate will commit to decarbonizing at least USD 100bn in institutional investment across asset classes. Thus far, the PDC membership has grown to approximately USD$35billion in AUM, but much more growth is needed.