According to Copernicus ECMWF, 2023 is confirmed as the warmest calendar year in global temperature data records going back to 1850. Furthermore, 2023 was 0.60°C warmer than the 1991-2020 average and 1.48°C warmer than the 1850-1900 pre-industrial level.

We have seen all over the media that globally there were unprecedented weather events last year, which resulted in health problems for people, droughts, affected agriculture, heatwaves, etc. With El Nino in the picture there are possibilities that this year it may be the warmest year on record. Limiting the global temperature below 1.5°C as per the Paris Agreement has become a major challenge, whereas some analysts state that we may cross the mark before the end of this decade. Tripling the renewable energy capacity in this world before the end of this decade is a must for our world to avoid future climate related catastrophes.

Climate Bonds Initiative is an international organisation working to mobilise global capital for climate action. By the close of 2023, Certified Climate Bonds reached USD 300 billion, reflecting the Climate Bonds Standard and Certification Scheme’s role in setting benchmarks for climate investment. This figure extends over 16 sectors and 20 types of debt instruments (including bonds, project bonds, securitisation bonds, loans, green deposits, green repos, commercial paper, CRA, RMBS, sukuk, revolving credit facilities, convertible bonds, covered bonds, private placement, to name a few), highlighting the broad applicability and growth of the Climate Bonds Standard.

The Climate Bonds Standard, with certifications in 52 countries from 294 issuers, covers an extensive array of climate-focused debt instruments. This includes sovereign and sub-sovereign bonds, prominent banks, and major issuers in sectors such as transport, energy, buildings, and water, reflecting its broad sectoral adoption.

The Ceylon Institute Of English & Leadership (CIOEL) focuses on skills-based education. Their two main courses are ‘Business English Leadership Programme’ and ‘Leadership & Sustainability Programme’. Furthermore, they have a podcast series with interesting personalities across the world, which is available on Google Podcasts, YouTube, and other platforms.

Watson Michael, CEO of CIOEL and Sean Kidney, Co-Founder & CEO of Climate Bonds Initiative recently discussed via another podcast about; views on last year being the hottest on record, finance industrial transition, deforestation-free supply chains, and climate related risks & opportunities.

Furthermore, Kidney is a Professor in Practice at SOAS University of London, Sustainable Investment Advisory Council for UNCTAD, Member of the Finance Industry Advisory Board of the International Energy Agency, Member of the Monetary Authority of Singapore’s Sustainable Finance Advisory Panel, Finance Advisory Board for the Global Alliance for a Sustainable Planet & an expert advisor to governments around the world.