QUOTES-'We need to reimagine finance' - what they are saying at U.N. climate talks

COP 26, a U.N. conference https://www.reuters.com/business/cop/wrapup-politicians-exit-cop26-130tn-worth-financiers-take-stage-2021-11-03 critical to averting the most disastrous effects of climate change, is running for the first two weeks of November. Here are some quotes from participants on Wednesday, Nov. 3: CITIGROUP CEO JANE FRASER On a commitment by major financial institutions to put climate change at the heart of their operations: "If you don't work together, you're going to come up with a lot of really nice speeches, but you're ...

COP 26, a U.N. conference https://www.reuters.com/business/cop/wrapup-politicians-exit-cop26-130tn-worth-financiers-take-stage-2021-11-03 critical to averting the most disastrous effects of climate change, is running for the first two weeks of November.

Here are some quotes from participants on Wednesday, Nov. 3: CITIGROUP CEO JANE FRASER

On a commitment by major financial institutions to put climate change at the heart of their operations: "If you don't work together, you're going to come up with a lot of really nice speeches, but you're ... in danger of being divorced from reality."

BLACKROCK CEO LARRY FINK "We need to reimagine finance ... We can actually do this for climate, but we can't just cherrypick and greenwash by asking just the public companies, the convenient companies, to move forward without asking all of society to move forward."

U.N. CLIMATE ENVOY MARK CARNEY On getting the finance for climate-friendly investment:

"The money is here but that money needs net zero-aligned projects and there's a way to turn this into a very, very powerful virtuous circle - and that's the challenge." "There are facilities that are being developed that can do this; we need to scale them dramatically."

ASHLEY ALDER, CHAIR OF IOSCO, A BODY GROUPING SECURITIES REGULATORS On a new global standards body to prevent misrepresentation of ethical investments:

"We are really focused on greenwashing ... It's super important, and if you don't have basic information on a globally comparable basis, then you increase the risks of greenwashing enormously." U.S. CLIMATE ENVOY JOHN KERRY

On efforts to cap the average global temperature rise at 1.5 degrees Celsius: "You don't get this done unless we are all in."

MARY ROBINSON, FORMER IRISH PRESIDENT AND FORMER U.N. HUMAN RIGHTS COMMISSIONER "The truth is we are not equal in the face of the climate crisis. Poor and marginalised people in the global south are not only hit more frequently by the impact of climate change, they are also hit hardest.

"It is an unjust birthright of the rich and privileged to be protected from many of the effects of climate change." (Compiled by Edmund Blair; Editing by Kevin Liffey)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)