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A view of the United Nations Climate Change Conference flags at the venue, in Bonn, Germany, June 6, 2023. "What we want to see, all of us, is a real sense of urgency about reducing CO2 emissions," Roche Vice-Chair Andre Hoffmann said. We need to show action, and I'm not sure that what I've read so far of the COP28 will be strong enough for that." Despite rapidly falling prices for renewable energy, Roche's (ROG.S) Hoffmann said much faster action was needed. "If the change is going to be that big then financial institutions, business people will reshape and they'll say my goodness there's going to be new technological institutions, there's going to be new factories, there's going to be a new economy.

Persons: Jana Rodenbusch, Hoffmann, November's, Roche, Andre Hoffmann, I'm, Eelco van der Enden, Elvis Presley, it's, Celine Herweijer, we've, Herweijer, It's, Andrew Steer, Steer, Richa Naidu, Gloria Dickie, Clara Denina, Iain Withers, Helen Reid, Alexander Smith Organizations: United Nations, REUTERS, Reuters IMPACT, Global, HSBC, Reuters, Fund, Thomson Locations: Bonn, Germany, Asia, Dubai, American, Paris

Increasingly, they said conversations in C-suites and with financiers had turned to the risks that climate change presented to businesses. Climate activist Greta Thunberg made the journey up the Swiss Alps to call on the global energy industry and its financiers to end all fossil fuel investments. Suni Harford, the president of UBS's asset management arm who leads the bank's sustainability efforts, said her conversations at Davos suggested no let up in focus on climate, despite the shorter-term pressures. "Clients are becoming ever more informed on the energy transition, demand for sustainable and green products has held up well, and clients are increasingly looking to measure the impact of their portfolios." "Put forward credible and transparent transition plans on how to achieve net zero – and submit those plans before the end of this year," Guterres said in a speech.

As the COP15 biodiversity summit kicks off in Montreal, businesses and corporate leaders are pushing for an ambitious agreement with strong policies that will provide guidance to companies seeking to change. They are under increasing pressure to show progress in tackling climate change and reducing harm to the environment. The agency has said some $384 billion will be needed each year for nature projects by 2025. "If we take that mindset to nature, it leads to the investment models that would allow us to invest in nature as infrastructure," he said. "Two years ago, all these governments around the world said 'let's put trillions of dollars into nature.'

Some progress has been made, but it's not enough," Rebecca Marmot, chief sustainability officer at consumer goods company Unilever (ULVR.L), said. While regulators have pushed for more rigorous reporting on the companies' environmental impact and efforts to battle climate change, broader impact on nature and biodiversity has not yet been subject to similar scrutiny. The COP15 talks in Montreal will see countries try to agree a new Global Biodiversity Framework to combat the crisis that threatens over one million plant and animal species with extinction. "Assessment and disclosure are an essential first step to generate action, but it will only have an impact if it is made mandatory," the 330 businesses said in their statement. "Without this information, we are flying blind into extinction," Eva Zabey, executive director at global coalition Business for Nature, said.

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