Global Trustee and Fiduciary Services News and Views Issue 50

Global Trustee and Fiduciary Services News & Views | Issue 50 | 2018 15 a Flash Eurobarometer Analytical Report, undertaken by the Gallup Organisation back in 2008, it provides a clue. 17, 18 In a segment linked to the environment, results indicate that a large majority of young people are certain that health risks are associated with air pollution caused by cars, excess fertilizers in water reserves, new epidemics and with living in the vicinity of a nuclear power chemical plant. Asked for views about the next 20 years, young EU citizens are most pessimistic about changes in other areas of life, e.g. the quality of food and water. A majority of young EU citizens (57%) think that the most effective solution for the greenhouse effect and global warming would be a fundamental change in Europeans’ way of life. World leaders take action A specific global landmark moment occurred in June 2012 when world leaders committed to start out on a significant transformative journey at the “Rio+20” Conference on Sustainable Development. This is where governments decided to develop global Sustainable Development Goals (SDGs), building on the Millennium Development Goals but also including issues such as natural resources management, sustainable consumption and production, effective institutions, good governance, the rule of law and peaceful societies. 19, 20 The scale, ambition and approach of the Agenda were unprecedented. One key feature is that the SDGs are global in nature and universally applicable, taking into account national realities, capacities and levels of development and specific challenges. All countries have a shared responsibility to achieve the SDGs, and all have a meaningful role to play locally, nationally and globally. The 2030 Agenda itself consists of 4 sections: • A political Declaration. • A set of 17 Sustainable Development Goals and 169 targets, based on the report of the Open Working Group (OWG), with some small modifications. 21 • Means of Implementation. • And framework for follow-up and review of the Agenda. To achieve the EU’s 2030 climate targets, around EUR180 billion a year of additional investment is required in the areas of energy efficiency and renewable energy. 22 This number rises to EUR270 billion when including goals for the energy, transport, water and waste sector as a whole, according to data by the European Investment Bank. Sustainable investing has been one of the fastest-growing segments in finance with assets under management (AuMs) increasing by 61% from 2012 to 2014 to USD21.4 trillion. 23 Under its own plans, the EU has committed to achieving three ambitious climate and energy targets by 2030: Minimum 40% cut in greenhouse gas emissions compared to 1990 levels At least a 27% share of renewables in final energy consumption At least 30% energy savings compared with the business-as-usual scenario 1 40% 27% 30% 2 3