Davos Update: SAP, UNEP, World Bank, Accenture
SAP has announced plans to invest $6.6 million in sustainability and entrepreneurship at the World Economic Forum at Davos, Switzerland. The software corporation will join the Livelihoods Fund with a €3 million ($4 million) investment. The Livelihoods Fund is an investment company which plants trees to fight climate change, improve ecosystems, enhance rural communities’ food security and reduce poverty.
SAP has also announced that it is to make an initial €2 million investment to three organizations: Endeavor Global, Endeavor Brazil and India’s National Entrepreneurship Network. The focus for investment will be on job creation and responsible and sustainable business growth for emerging entrepreneurs, the company says.
Achim Steiner, head of the United Nations Environment Program, will be in Davos to explain UNEP greenhouse gas estimates, The Guardian reports. UNEP found that about 49 billion metric tons of CO2e were emitted in 2011, around 20 percent more than in 2000.
The World Bank has used the conference to say it would be “devastating” if world temperatures were to raise by the 4 degrees Celsius (7.2 degrees Fahrenheit) that current science predicts. Turn Down the Heat, a snapshot of the latest climate science prepared for the World Bank by the Potsdam Institute for Climate Impact Research and Climate Analytics, says that current greenhouse gas emissions pledges will not reduce this temperature rise by much but that with “sustained policy action” warming can still be held below 2 degrees Celsius.
Officials from organizations including the International Finance Corporation, the Global Environment Facility, sovereign wealth funds and national development banks will be meeting with more than 50 senior executives from the clean energy infrastructure industry to discuss the findings of a recent report from the World Economic Forum’s Green Growth Action Alliance, the Guardian reports. The Green Investment Report – the ways and means to unlock private finance for green growth calls for more spending on green infrastructure. The report finds that governments should spend an additional $36 billion annually on clean energy, which could spur up to $570 billion a year in private capital.
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