Access to key climate transition-related data enables action and encourages transparency and accountability in our transition toward a net zero economy. However, private sector climate data is not reported consistently, and there are often costly barriers to accessing this information. Ministries of Finance, regulators, investors, financial institutions and corporations struggle to source the comparable, high quality underlying data necessary to develop credible net zero strategies, monitor progress and inform future decision making.
The Net-Zero Data Public Utility (NZDPU) intends to address this global data challenge by creating an open, free, and centralized data repository that would allow all stakeholders to easily access key climate transition-related data of private sector firms and financial institutions, allowing them to assess their commitments and progress. A pilot version of the NZDPU will be developed by COP28 as soon as an appropriate contractor to build the platform has been selected. A Climate Data Steering Committee (CDSC) created in 2022 provides strategic guidance with respect to developing the Utility. Bloomberg Philanthropies funds the entire project with the aim of delivering it to UNFCCC by 2025.
This workshop presented the ongoing work in building the NZDPU and explored its relevance to MoF policy decision making and how countries can support making the platform a success.
- Simone Kramer, Head of Product NZDPU at Bloomberg - presented on the NZDPU platform and its relevance to MoFs (view/download presentation).
- Raphael Jachnik, Team Lead, Finance for Climate Action, OECD Environment Directorate - gave OECD’s perspective on financial sector net zero commitments and highlight key remaining challenges (view/download presentation).