Partnering with our Clients at COP27
Members of the Christensen Global team attended COP27* in Sharm El-Sheikh, Egypt to represent clients, re-engage and expand our network, and learn how we can best play a role in accelerating solutions to our climate crisis.
COP27, also referred to as the “African COP'' focused on better engaging the global south in shaping climate related initiatives, as well as getting funding committed for loss and damages of already occurring and expected climate disasters such as the devastating floods in Pakistan earlier this year. (NYT)
In Egypt, the Christensen Global team was focused on key impact areas guided by our clients including the apparel and textile industry with Apparel Impact Institute, Food and Agriculture with Aleph Farms, the built environment with Hempitecture, climate data with Riskthinking.ai, and climate finance with the Initiative on Closing the Investment Gap (CIG) for Small Island and Developing Nations (SIDS).
Apparel Impact Institute (Aii):
As one of the largest CO2 emitters globally, reducing the environmental and social impact is a business imperative for the apparel and textile industry. The fashion industry has a monumental role and opportunity to play but this entails a transformation that can only be achieved by decisive and coordinated efforts across the entire value chain.
Apparel Impact Institute, an organization on a mission to fund and scale verified solutions to decarbonize the apparel and textile supply chain globally, has taken a major step in driving the interventions and bold action through the Climate Fashion Fund. The $250M Fashion Climate Fund (combines industry and philanthropic sources) to unlock a total of $2B in blended capital towards verified impact solutions, thereby removing up to 150 million tonnes of CO2 from the apparel supply chain.
Christensen Global was delighted to partner with Aii COP27 to support their strategic engagement throughout a number of COP27 speaking and networking events including an evening reception we co-hosted, “Fashion + Climate: COP27 Edition.” It was incredible to see networks collide and develop new ways to support and accelerate each other’s missions. We look forward to continuing to support Aii as they continue to forge partnerships for the Fashion Climate Fund.
Lewis Perkins, Founder and CEO, Apparel Impact Institute and Aimée Christensen, Founder and CEO, Christensen Global during a brief Q&A about decarbonizing the fashion value chain and the Apparel Impact Institute’s Fashion Climate Fund.
Riskthinking.ai:
Many areas of the world are already experiencing the harmful effects of a warming climate from the devastating floods in Pakistan to the wildfires raging across the western hemisphere. The question that was sought to be addressed at COP27 is who is financially responsible for responding to this devastation? This was a guiding topic at COP27 this year, and while it was addressed by many, the results were underwhelming.
In addition to responding to the occurring loss and damages, it is important to establish means of addressing potential future risks and financial implications. Issues with assessing climate related financial risk and damages are only continuing to grow, and the need for comprehensive and consistent climate data is more important than ever. Christensen Global client riskthinking.AI is able to collect data to detect and assess these risks. Riskthinking.AI helps enterprises predict and manage the cost of such environmental disasters across any asset type, class, or sector, anywhere in the world, and across any future time horizon.
Hempitecture:
Despite slowing trends, new construction continues to have its moment. In the United States alone, new residential construction is growing at a rate not seen since 2006. Unfortunately, buildings are responsible for almost 40% of global energy-related carbon emissions and 50% of all extracted materials.*
COP27 recognized that these inefficiencies exist and highlighted solutions in an array of events centered on the built environment. Ranging from talks in the Blue Zone to the free events outside, please check out the full schedule relating to the building sector here: https://buildingtocop.org/#blog.
One of our clients provides an alternative to using harmful insulation in building projects. Hempitecture produces building materials that are derived from carbon capturing, agricultural industrial hemp, which is a non-toxic renewable feedstock. Their primary product, a natural fiber batt insulation, is designed to replace conventional, toxic materials.
The building and construction sector’s demand on natural resources accelerates climate change, and it is past time to actively choose a different path.
*sources: https://worldgbc.org
Aleph Farms:
This year at COP27, food and agricultural systems were on the table more than ever through the lens of climate, justice, and wellbeing. For the first time, COP featured food and agriculture pavilions, which provided an appropriate platform for Christensen Global client Aleph Farms, a leading cultivated meat company, to demonstrate thought leadership throughout the conference. Read more about Aleph Farms’ takeaways and experience throughout COP27 in their blog “Eyes on COP27: A Recap From Sharm El-Sheikh.”
The Christensen Global team was excited to co-host a second annual dinner with Aleph Farms, this year to bring together leaders from finance, government, innovation, and business to explore our collective roles in shaping a resilient global food system. It takes full ecosystems of changemakers to create food systems that are inclusive, resilient, and sustaining.
Initiative to Close the Investment Gap:
A theme throughout COP was addressing the challenges that result from our global financial systems not serving everyone, especially developing nations and those most vulnerable to the impacts of climate change. A variety of solutions have arisen to de-risk capital to drive investment towards developing and vulnerable regions to increase resilience.
Christensen Global is proud to be advising the Initiative on Closing the Investment Gap for Sustainable Infrastructure being incubated at the University of Maryland and led by longtime climate finance and development expert Irving Mintzer and a cohort of finance experts.
At COP27, we represented the first strategy of their Initiative to Close the Investment Gap in Sustainable Infrastructure in conversations onstage and off. The goal of the Initiative on Closing the Investment Gap in Sustainable Infrastructure (the CIG Initiative or CIG) is to build and bring to fruition an innovative strategy to finance high-priority, sustainable infrastructure projects in developing countries.
* For those who might need a refresher or introduction on what “COP 27” is, see “What Is COP27? And Other Questions About the Big U.N. Climate Summit,” from the New York Times.