Handshake Partners

On May 16-18 Handshake Partners participated in From Climate Crisis to Climate Resilience hosted by the Pontifical Academy of Science and the Pontifical Academy of Social Science. The three-day summit at the Vatican convened academia, an international roster of mayors and governors, and key private sector leaders to present and discuss solutions to build greater resilience. The summit culminated in the release of the Planetary Resilience Protocol, modeled on the Montreal Protocol, to provide guidelines to make our communities and societies more climate resilient. The protocol will be submitted to the UNCCC.     We were honored to support the summit and expand its impact through the participation of our fantastic partners at C40 Cities and World Energy Cities Partnership (WECP).    With the G7 just a few days away and climate expected to be at the top of the agenda, these convenings demonstrate to global leaders the importance of multilateral engagement and the true power of partnership. https://lnkd.in/dY5XUxDT

The G7 Finance Ministers and Central Bank Governors released their long-awaited Communiqué last week giving us insights into the official agenda of the upcoming G7 Summit in Apulia, Italy. While weighted with geopolitical headwinds, the announcement previewed how the G7 countries are approaching AI and the Green transition, topics that are seemingly ever more interlinked. More than ever the ministers are leaning on the private sector to lead and be true partners for global action.    Here are the highlights:     📊AI ▪ Key risks include developing effective and universal governance that enables innovation while providing needed safeguards. Further divergence between advanced, emerging, and developing economies, coupled with concerns around herd behavior and uncertainty around economic stability, pose real challenges. ▪ AI offers novel and ample opportunities for social and economic progress, particularly in developing countries' crucial sectors such as health, education, and agriculture.  ▪ International Financial Institutions must work to better model and assess the macro implications of AI adoption and support developing countries in taking advantage of its opportunities.   🌱 The Green Transition  ▪ The finance policy options for a just transition towards net zero focus on the balance between accelerating the green transition and the potential for economic and societal consequences of what that investment and transition means. The key is ensuring an internationally aligned approach and ensuring that communities understand the near and long-term benefits of a speedy transition.  ▪ A renewed focus on insurance aims to build greater resiliency through the implementation of the framework for public-private insurance programs against natural hazards. This is a guide for public and private sector stakeholders to partner to better assess and address protection gaps.   ▪ There is an agreement on the importance of a global baseline for sustainability reporting and climate-related disclosures aligned with the International Sustainability Standards Board (ISSB) standards.  While we expect to see further refinement of these positions at the G7 Summit later this week, it is clear that governments will expect the private sector to engage on these issues beyond the confines of their own enterprises and more globally on a societal level. As these meetings will set the stage for the Fall's major engagements including UNGA, New York Climate Week, COP29, The G20, and leading into Davos in January, your business needs to have a clear and articulated position on these issues and a plan for action. #G7Summit #GreenTransition #AI https://lnkd.in/dewvbX2t https://lnkd.in/dNmEQXEk

Last week, our team had the honor of joining forces with the Dicastery for Communication and the Dicastery for Promoting Integral Human Development, alongside The Sustainable Markets Initiative, at the Pontifical Academy of Sciences for the "Care for our Common Home: Building & Communicating An Economy that Promotes Sustainability & Peace" roundtable and luncheon.   Together, we convened the Vatican, private sector leaders, and faith-based leaders, diplomats, journalists, authors, filmmakers, and artists, all united in our commitment to address the urgent call of Pope Francis to take “swift and unified global action” to address climate challenges, social exclusion, and extreme poverty. Pope Francis emphasizes, "Human-induced climate change is a scientific reality, and its decisive mitigation is a moral and religious imperative for humanity."   Leaders from Aon, Bank of America, S&P Global, and others shared insights on sustainable finance, energy transition, and the role of insurers in protecting vulnerable communities. The discussions highlighted the importance of communications in raising awareness and effecting change, emphasizing the need to avoid polarizing language and harness storytelling as a powerful tool for messaging.   The event featured "Changes," a photographic journey about climate change through the words of St. Francis. This exhibit, combining powerful photography with the words of Saint Francis, underscored the potency of art to inspire change.   As we approach #COP28 and #Davos2024, the private sector has an even greater opportunity to create a lasting impact. Let me know if you’re heading to these global convenings—I’m eager to hear your plans and explore how we can collaborate. Together, we can achieve a brighter, more sustainable, and just future.