Participants have insisted on the necessity to collaborate in various ways and call:
- Governments to operationalize the transparency resolutions contained in the Paris Agreement.
- Businesses to increase transparency with regards to how they take into account climate change related risks and opportunities in their strategies and actions.
- Governments and businesses to accelerate the deployment of carbon pricing in their functioning and decision-making.
Finance has an important role in addressing climate change because it steers long-term investment. Investors need to understand how companies address climate change in their strategies, which goes well beyond the current carbon footprint. Under the mandate of the G20 and the Financial Stability Board, the Task Force on Climate-related Financial Disclosures seeks to develop consistent voluntary disclosures by companies and enhance investor understanding of climate related business risks and opportunities. Such disclosures and better investor understanding will foster implementation of the COP21 agreement.