, they showed a global consensus forming to tackle climate change that will make it easier to for private investors and governments to put in money and effort.
Peter Lacy, Accenture's global sustainability services lead, said that for investors and companies, the most significant step at the conference was the creation on November 3 of the International Sustainability Standards Board, meant to create a baseline for companies to describe their climate impact.
The new board, Lacy said,"will give investors and stakeholders a much better understanding of related risks and opportunities and help guide the allocation of the huge amount of capital needed as the world transitions to net zero," he said via email.Critics say many of the conference's key announcements lack specifics and give companies wiggle room.
Diplomats now must hash out rules on areas like constructing markets to help businesses price carbon and how much developed nations will help poorer ones.