Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Posts Tagged ‘Climate Change’

EU-PARLAMENT IM ENTSCHEIDUNGSNOTSTAND

Posted by hkarner - 5. Dezember 2019

FURCHE-Kolumne 281     Wifried Stadler 

Der Zeitpunkt, zu dem das EU-Parlament in der vergangenen Woche den „Klimanotstand“ ausgerufen hat, war dramaturgisch perfekt gewählt: zu Beginn der Amtszeit der auf einen „Green Deal“ setzenden EU-Kommissionspräsidentin Ursula von der Leyen und wenige Tage vor Eröffnung der von Santiago nach Madrid verlegten UN-Klimakonferenz.

Inhaltlich lässt sich allerdings darüber streiten, ob die Wortwahl – bei aller objektiv gegebenen Dringlichkeit – auch wirklich passt. Sie könnte nämlich auch als Eingeständnis eines Entscheidungs-Notstands von mit der Lösung der Umweltfrage schlicht überforderten Volksvertretern verstanden werden. Und weil ein „Notstand“ nun einmal nach sofortigen Sondermaßnahmen verlangt, könnten sich Klimaaktivisten zur Abkürzung allzu zeitraubender, demokratischer Prozeduren der Entscheidungsfindung ermuntert sehen.

Vielleicht war es aber auch nur der Versuch, wenigstens deklamatorisch Handlungsfähigkeit zu zeigen, wo es doch in so vielen anderen Problemfeldern schwer fällt, herzeigbare Fortschritte zu erzielen. Allein die wirtschaftspolitischen Beispiele dafür reichen vom Scheitern des Zustandekommens einer Finanztransaktionssteuer bis zu der in der vergangenen Woche auch von der österreichischen Interims-Regierung abgelehnten Steuertransparenz großer Unternehmen. Den Rest des Beitrags lesen »

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An Oil Giant Plans for Climate Change

Posted by hkarner - 1. Dezember 2019

Date: 30‑11‑2019

Source: The Wall Street Journal

Shell is test‑driving a number of eco‑friendly business models before deciding which one to buy into

Royal Dutch Shell knows that climate change means business change, but isn’t sure how. Like a savvy car buyer, it is testing out a few eco‑friendly models before it chooses one.

The approach is sensible for Europe’s most valuable oil and gas producer, given that we don’t know what a lower‑carbon future really looks like. At some point, though, investors need to brace for a big decision.

All countries except the U.S. have promised to cut their carbon emissions to comply with the 2015 Paris climate accord. Extreme weather events, ongoing climate protests and shifting public opinion are now pushing governments to deliver. The oil and gas business is on the front line of the drastic economic changes required.

Equally, though, there is great uncertainty about the pace of the transition and how lower‑carbon economies will eventually be structured to produce and sell power, food and transportation.

Faced with this conundrum, Shell has promised to halve its net carbon footprint by 2050 from the 2016 level. It has gradually moved away from oil toward lower‑carbon gas and has been adding electricity to its product mix. It is also applying its trading and retailing expertise to products other than oil and gas. With 45,000 stores—more than Starbucks or McDonalds—Shell serves 30 million customers daily. Den Rest des Beitrags lesen »

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Climate emergency: world ‚may have crossed tipping points’

Posted by hkarner - 29. November 2019

Date: 28‑11‑2019

Source: The Guardian

Warning of ‘existential threat to civilisation’ as impacts lead to cascade of unstoppable events

‘Part of the west Antarctic ice sheet may be in irreversible retreat,’ said one of the researchers.

The world may already have crossed a series of climate tipping points, according to a stark warning from scientists. This risk is “an existential threat to civilisation”, they say, meaning “we are in a state of planetary emergency”.

Tipping points are reached when particular impacts of global heating become unstoppable, such as the runaway loss of ice sheets or forests. In the past, extreme heating of 5C was thought necessary to pass tipping points, but the latest evidence suggests this could happen between 1C and 2C.

The planet has already heated by 1C and the temperature is certain to rise further, due to past emissions and because greenhouse gas levels are still rising. The scientists further warn that one tipping point, such as the release of methane from thawing permafrost, may fuel others, leading to a cascade. Den Rest des Beitrags lesen »

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The Power of Green Public Finance

Posted by hkarner - 28. November 2019

Werner Hoyer

Werner Hoyer is President of the European Investment Bank.

In addition to visionary leadership and a mobilization of businesses, citizens, and civil-society groups, confronting climate change will require massive investments. We cannot count on governments alone to put up the money; rather, we must use public finance to leverage the power of private capital.

LUXEMBOURG – Policymakers and pundits have been wringing their hands over the crises afflicting the European Union, arguing that it is falling behind in confronting major threats to its long-term survival. Yet on the issue of climate change, nothing could be further from the truth. In mid-November, EU member states demonstrated that they can unite behind a shared vision of a low-carbon future. And European institutions are already leading the fight against climate change at the global level. Among these, the European Investment Bank will now be playing an even greater role as an instrument for decarbonizing the economy and limiting global warming to well below 2°C above pre-industrial levels.

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A New Climate Economy

Posted by hkarner - 27. November 2019

By Gita Bhatt

“Everybody talks about the weather, but nobody does anything about it.” The quip, attributed to 19thcentury American humorist Mark Twain, might describe the current state of play on climate change. In Twain’s day, it was absurd to suppose humans could do anything about the weather.

Today, we understand that we can and we must.

The changing climate, largely wrought by humans, is bringing rising sea levels, temperature extremes, and more frequent and harsher storms. These threaten to displace lives, livelihoods, and communities, with clear economic consequences, often at a high price tag, around the world.

Simply put, climate is the biggest risk the world faces. What can we do to move from talk to action?

This issue of Finance & Development looks at the economic and financial impact of climate policy choices. It points to concrete solutions that offer growth opportunities, driven by technological innovation, sustainable investment, and a dynamic private sector.

For IMF Managing Director Kristalina Georgieva, dealing with climate change requires not only mitigating damage, but also adapting for the future. This means pricing risk and providing incentives for green investment. Kenneth Gillingham shows that in the long run, the costs of climate action may be lower than we think. Ian Parry estimates that aggressive carbon taxes would help individual nations meet their emission-reduction goals and scale up action globally. Mark Carney and others show how harnessing finance can open enormous opportunities—from transforming energy to reinventing protein. Finally, Ralph Chami and fellow researchers highlight how saving whales can help save the planet. Den Rest des Beitrags lesen »

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The EU’s EV Greenwash

Posted by hkarner - 24. November 2019

  Yes, Hans-Werner Sinn, we know that diesels emit little co2 but a helluvalot of other shit (RC

Date: 23-11-2019
Source: Project Syndicate by Hans-Werner Sinn

Hans-Werner Sinn, Professor of Economics at the University of Munich, was President of the Ifo Institute for Economic Research and serves on the German economy ministry’s Advisory Council. He is the author, most recently, of The Euro Trap: On Bursting Bubbles, Budgets, and Beliefs.

EU emissions regulations that went into force earlier this year are clearly designed to push diesel and other internal-combustion-engine automobiles out of the European market to make way for electric vehicles. But are EVs really as climate-friendly and effective as their promoters claim?

MUNICH – Germany’s automobile industry is its most important industrial sector. But it is in crisis, and not only because it is suffering the effects of a recession brought on by Volkswagen’s own cheating on emissions standards, which sent consumers elsewhere. The sector is also facing the existential threat of exceedingly strict European Union emissions requirements, which are only seemingly grounded in environmental policy.

The EU clearly overstepped the mark with the carbon dioxide regulation that went into effect on April 17, 2019. From 2030 onward, European carmakers must have achieved average vehicle emissions of just 59 grams of CO2 per kilometer, which corresponds to fuel consumption of 2.2 liters of diesel equivalent per 100 kilometers (107 miles per gallon). This simply will not be possible. Den Rest des Beitrags lesen »

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The world’s climate goals are not sufficient. They are also unlikely to be met

Posted by hkarner - 22. November 2019

Date: 21-11-2019
Source: The Economist

Governments‘ wholehearted support for the fossil-fuel industry is to blame

AT THE PARIS climate summit in 2015, 188 countries voluntarily committed themselves to plans to curb their greenhouse-gas emissions. Taken together, these pledges—known as “nationally determined contributions” or NDCs—fall well short of what is needed to achieve another part of the Paris agreement which aims to limit the rise in global temperatures to “well below” 2°C, compared with pre-industrial levels, by the end of the century.

However, a report published on November 20th by the United Nations Environment Programme and other research organisations finds that even these unambitious targets will probably be missed. The researchers arrive at this conclusion by combining the production plans of the eight biggest fossil-fuel-producing countries, which collectively cover 60% of global output, and applying conservative growth rates to the remainder of global production over the next 20 years. Den Rest des Beitrags lesen »

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Greta Thunberg accuses rich countries of “creative carbon accounting”

Posted by hkarner - 18. Oktober 2019

Date: 17-10-2019
Source: The Economist

When it comes to measuring national emissions, she has a point

IT IS 5AM, and New Covent Garden Market is in full swing. On its swarming 57-acre site in Battersea wholesalers are flogging fruit, vegetables and flowers to London’s greengrocers and restaurateurs. Costa Rican pineapples are stacked next to Kenyan passion fruits and Peruvian asparagus. Rows of Danish conifers sit by buckets of Dutch roses. Fresh produce shipped from all around the world is for sale.

But what is a boon to chefs—and apologetic spouses—has become a mind-bending problem for politicians and regulators. Under mounting public pressure they are busy setting targets to limit their carbon emissions. At least 60 countries and over 100 cities have promised to get to “net zero”. The trouble is that few account fully for the emissions created by products that are consumed within their borders but produced outside them.

Take, for example, a bunch of those Dutch roses. Britain’s “net-zero” target for its carbon impact includes only domestic emissions—the lorry trip carrying them on British soil, and so on. These carbon emissions are trivial in comparison to the 30kg or so from heating greenhouses in the Netherlands and flying the roses to Britain. Through a production lens, Britain looks relatively virtuous. Through a consumption lens, it does not. Den Rest des Beitrags lesen »

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How do we feed the world without destroying the planet?

Posted by hkarner - 17. Oktober 2019

Date: 16-10-2019
Source: The Guardian by Bob Geldof

An international summit next year will tackle the world’s most enduring crisis – hunger. Radical action is needed

Hunger is the most awful and profound expression of poverty. It exists in every country. It is something that most people can identify with on some perhaps primordial level. It is innate. The fear of hunger is etched into our DNA, passed down the generations from hungry, scared ancestors. It is in our bones. It is in my Irish bones.

First, the good news. For several decades global hunger has been decreasing. This is mostly thanks to the sweat and ingenuity of the 500 million smallholders who produce 80% of the food consumed in the developing world. It is also thanks to the work of exceptional NGOs, to economic growth and to the innovation of businesses all along the supply chain. It’s thanks, too, to the support of governments and international organisations. And it’s to increased political stability in some places.

But there is very bad news. More recently hunger has started to increase. Again. On World Food Day on Wednesday, 820 million people face chronic hunger. That’s the equivalent of the population of the US and the EU combined. This is daily, frightening, fatiguing, persistent hunger. Day after day, 820 million people will not get enough to eat. Night after night famished adults, mothers, fathers put their children to bed with empty stomachs. Den Rest des Beitrags lesen »

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Fiscal Policies to Curb Climate Change

Posted by hkarner - 11. Oktober 2019

By Vitor Gaspar, Paolo Mauro, Ian Parry, and Catherine Pattillo

Global warming has become a clear and present threat. Actions and commitments to date have fallen short. The longer we wait, the greater the loss of life and damage to the world economy. Finance ministers must play a central role to champion and implement fiscal policies to curb climate change. To do so, they should reshape the tax system and fiscal policies to discourage carbon emissions from coal and other polluting fossil fuels.

The Fiscal Monitor helps policymakers choose what to do and how to do it, right now, globally and at home.

A better future is possible. Governments will need to increase the price of carbon emissions to give people and firms incentives to reduce energy use and shift to clean energy sources. Carbon taxes are the most powerful and efficient tools, but only if they are implemented in a fair and growth-friendly way. Den Rest des Beitrags lesen »

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