Net Zero Regulatory and Policy Directors Join…

The Net Zero Task Force, an initiative to support the work of the UN Secretary-General’s High-Level Group of Experts (HLEG) on net zero commitments by non-state actors, today announced the composition of its Board of Trustees and its Task Force Expert Group (TEG).

Professors Tom Hale and Thom Wetzer, Directors of the Oxford Martin Program on Net Zero Regulation and Policy, have been appointed to the Expert Group of the Task Force. This follows the establishment of the Net Zero Regulation and Policy Center earlier this year, which is a key outcome of the program.

In a recent speech, UN Secretary-General Antonio Guterres reaffirmed the critical role that non-state actors must play in achieving the global transition to net zero, and the importance of the High-Level Group’s recommendations as a framework to facilitate this action.

The Task Force also confirmed that it plans to produce a landmark report, to be published at COP29 and presented to the Secretary-General, which will take stock of current net zero trends and themes in relation to the recommendations of the High Level Task Force.

The Task Force, announced at COP28 in Dubai, is intended to gather and present insights that will help align the credibility and accountability of non-state actors’ 1.5°C net-zero emissions-aligned commitments with effective, coherent policy and regulatory certainty.

It is widely recognized that climate change poses significant existential risks to businesses, investors and societies around the world. With warming continuing to accelerate and the failure to meet the 1.5°C target to date, the need for action by both policymakers and non-state actors has never been more urgent.

The Task Force’s Oversight Board is composed of senior representatives from organizations working on climate and policy issues. The council serves to set the Task Force’s strategy and priorities and also serves as a pool of expert opinions to test the group’s performance.

Helena Vines Fiestas (Member of the UN High Level Group, Chair of the EU Platform for Sustainable Finance and Commissioner of the Spanish Financial Markets Authority) and Andrea Meza Murillo (Deputy Executive Secretary of the United Nations Convention to Combat Desertification (UNCCD)) will serve as co- Chairman of the initiative.

The Task Force’s expert group is made up of technical experts from areas relevant to the High Level Group’s recommendations, including climate change mitigation and adaptation, corporate regulation, financial regulation, environmental and real economy policies, just transition policies and markets. financial (and other, as needed).

In particular, TEG members are expected to help shape the work of the Task Force by providing guidance, research and analysis that will influence the Task Force’s outcomes.

TEG members have been selected to represent a diverse range of perspectives, drawn from a broad spectrum of regional economic contexts, in line with the task force’s aim to consider how EMDE markets can best serve through a coherent and equitable transition to net zero emissions.

The contributions of the Governing Board and the Task Force Expert Group will form the basis of the Task Force Summary Report to be published at COP29 in Azerbaijan. The report will identify and map policies in G20 countries against the high-level group’s criteria. It will also identify areas of good practice, challenges faced and actionable insights, including for vulnerable countries and emerging economies.