Dr. Mahmoud Mohieldin writes: In Sustainability: Science Before Money!

Posted on: Wednesday, April 6, 2022 – 20:23 | Last update: Wednesday 6 April 2022 – 20:26

Which will help to develop climate action on the ground and meet binding international obligations, by taking advantage of the scholars, researchers and experts that are full of universities and research centers. Humans were initially not led by the climate disasters that befell them, except for the studies of scientists who warned early on that it was impossible to continue to violate nature, which hides humans, in this unjust way.
Scientists have provided evidence of the dangers of ignoring the effects of harmful emissions on the climate and the environment, and that nature, with the aggravation of floods and hurricanes, the spread of forest fires, desertification and drought crises, with human casualties and property losses , and wasted the world by recommending a group of beneficiaries of the existing conditions for decades without taking decisive action. be avoided, and the confusion turned into chaos with problems managing the transition, especially in the energy and fuel security files, which worsened with the recent Ukrainian crisis. Of course, this was not the first case in which the innocent paid the price of crises before the culprits, nor will it be the last.
It is as if nature is calling for people to stop destroying it, predicting greater catastrophes for life and existence if no urgent measures are taken. One of the most important of these measures is what must be followed to lower the earth’s temperature by not exceeding 1.5 degrees Celsius as it was at the beginning of the industrial revolution. It is known that the Paris Agreement on Climate Change concluded by the world’s governments was satisfied that this increase did not exceed two degrees Celsius, but recent scientific studies have shown that it is a major risk, especially with the increasing rises in the earth’s temperature to actually reach about 1.1 degrees Celsius than it was before The Industrial Revolution.
It is noteworthy that the promises made by countries to the United Nations records will raise the earth’s temperature to dangerous levels with a rise of 2.7 degrees Celsius, and that the new promises announced last November in Glasgow to save what can be saved in the month Last November, it will reach a reduction that will not exceed 1.8 degrees Celsius, if the promises are kept and their owners are committed to keeping them, and as usual take the fulfillment of the promise in the absence of transparency, so whoever is safe from the punishment that misbehaved with him and continued to do so with other promises like the previous ones.
The complaint spread about the lack of standards that can be used in evaluation and comparison, and the phenomenon of what is known as “green laundry” has spread, with companies, financial institutions and other parties claiming their commitment to climate commitments, and then it is clear that they are breaking these obligations. The London Financial Times, for example, reported that more than 2,900 investment funds around the world manage financial assets estimated at about $ 2.7 trillion. And that the criterion for attracting these financial assets is to examine the rules of investment that positively impact the environment and society in what is known under the acronym “ESG” in English, with reference to its commitment to environmental and social considerations as well as management. . Fund mobilization in these areas has experienced boom, with many of these funds also declaring that they align with the priorities of climate action and sustainability. With the increase in the demand for these investments and the management of financial assets, the advisory firms operating in the classification have increased to the importance and opportunities of investments available around the world and the merits of investment funds operating in this field, to arrange. But the disadvantage of these advisory rating agencies is that each of them has an independent approach and different methods of evaluation, which complicates the comparison processes. It is possible that a financial asset or investment in a project is highly rated according to the rating of one of the consulting firms and fails in another, thus misleading investors and confusing the general public as to which funds are performing better. A study by experts from the Sloan School of Management at the Massachusetts Institute of Technology indicates that these inconsistencies and differences in the bases of evaluation and classification will stand in the way of developing and improving performance in the absence of agreement on the nature of the procedure that will improve performance or reduce risks.
The commitments of companies, investors, cities and regions to climate change are new, as is the group that, together with other non-state actors, forms the operational and operational impetus outside the relevant government departments, the formal framework for negotiation. An international team of experts has been formed from the United Nations to monitor and verify climate pledges, realizing that there is no way to address these pledges’s challenges, their implementation and the quality of investment in them, except by agreeing on the concepts, standards and procedures to be followed to deal with these investments in practice by identifying and disclosing their areas and their compatibility with what they are announcing.
The international group of experts was formed by the Secretary-General of the United Nations to follow up on commitments to carbon neutrality of institutions and non-state actors. It has included a number of leading experts in the fields of climate and environmental work, finance, development and supervision. The Minister of Environment and Climate, Mrs Catherine McKenna, has been elected.

To chair the group that will issue its recommendations before the end of this year in the following four areas:
FirstReview the standards and concepts that are in place to set carbon neutral targets and reduce climate harmful emissions to zero.
Second, The basis for setting carbon neutrality targets and reducing harmful emissions, as well as measurement and disclosure methods.
Thirdly, The practical steps taken to verify the reliability of the procedures and the accurate calculation to achieve the stated objectives of carbon neutrality.
Fourth, Identification of the roadmap for translating the agreed standards and foundations into international and national regulatory rules.
This group should seek the help of the competencies and expertise that the prestigious universities and research centers boast, in order to benefit from the latest developments in science and its respect for facts and evidence. Perhaps, as we prepare for a new climate summit next November in Sharm El-Sheikh, we will build on the contributions of scientific gatherings to support the previous Glasgow summit. Among these contributions were the Network of Universities for the Climate Summit, co-chaired by two leading professors, Emily Schockberg at the University of Cambridge, and Elisa Gilbert at Imperial College London, along with a large group of experts and researchers from scientists institutes and universities.
If given the opportunity, scientific research institutes find that they do not stop with their specialized teams when diagnosing the disease for the causes of climate deterioration, but rather develop practical solutions to mitigate harmful emissions, reduce environmental pollutants and adapt to the consequences of climate damage. . And there have been viable, low-cost technological alternatives for energy resources, transportation, urban community development, expansion of manufacturing and agriculture, all thanks to investment in human capital and scientific research, strengthening its collaboration with manufacturing and business sectors in the transformation of laboratories. experimentation in large-scale projects, and achieving breakthroughs in efforts in water management, food supply, infrastructure protection, coastal areas and rural and urban development programs.
Efforts to achieve sustainable development, which include addressing climate change, provide great opportunities for the participation of science and research departments in providing scientific solutions, policy development and increasing the effectiveness of executive agencies from where the problem begins and ends at the local level, as well as at the state, regional and global levels. Once these scientific solutions are stabilized and they can play their role, the massive funding needed to achieve the goals of development and environmental and climate protection will be more assured that its paths will stray or deceive.

Quoted from Asharq Al-Awsat

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