Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Posts Tagged ‘COP21’

A Planet at Risk Requires Multilateral Action

Posted by hkarner - 4. Dezember 2018

Signe Krogstrup and Maurice Obstfeld, IMF Blog

 December 3, 2018

A wolf in the snow: the planet isn’t crying wolf as man’s economic activities reach a scale where the global climate is at risk (photo: cc)

The COP-21 Paris Agreement limiting greenhouse gas emissions was a major achievement on the road to meeting the threat of climate change. But as the evidence becomes increasingly unambiguous that human activity is destabilizing the Earth’s climate and biosphere, policymakers will need to do more. The inherently shared nature of the threat underlines the need for closer and more comprehensive international cooperation to preserve the habitat in which human life has thrived.

William Nordhaus, to be honored next week with the Nobel Prize for his work on environmental economics, wrote in 1977:

„In contemplating the future course of economic growth in the West, scientists are divided between one group crying “wolf” and another which denies that species’ existence. One persistent concern has been that man’s economic activities would reach a scale where the global climate would be significantly affected. Unlike many of the wolf cries, this one, in my opinion, should be taken very seriously.“

A little over four decades later, the wolf is at the door.

Looking back, 2018 has seen more intense heat waves, wildfires, and storms. Seventeen of the 18 warmest years on record have occurred since 2000. 2018 is on track to join these ranks. Meanwhile, greenhouse gas emissions keep rising. Den Rest des Beitrags lesen »

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The Next Phase of Finance

Posted by hkarner - 14. März 2018

Bertrand Badré

Bertrand Badré, a former managing director of the World Bank, is CEO and Founder of Blue like an Orange Sustainable Capital and author of Can Finance Save the World? 

Today’s strengthening economic recovery has not overcome the understandable but devastating loss of trust in the financial system that followed the crisis a decade ago. Restoring trust will require reasserting control over the financial sector, to ensure that it is serving the economy, not the other way around.

WASHINGTON, DC – The decade since the global financial crisis has been tumultuous, to say the least. True, no great war has erupted, and we have more or less avoided the mistakes of the Great Depression, which led in the 1930s to greater protectionism, bank failures, severe austerity, and a deflationary environment. But renewed market tensions indicate that these risks have not been eradicated so much as papered over.

In a sense, the story of the 2008 financial crisis begins when the global order was created from the ashes of World War II. Initiatives like the Bretton Woods institutions (the World Bank and the International Monetary Fund), the Marshall Plan, and the European Economic Community supported the reconstruction of significant portions of the world economy. Despite the Cold War (or perhaps because of it), they also re-started the globalization that WWII had brought to a halt. Den Rest des Beitrags lesen »

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 Making finance serve the energy transition

Posted by klausgabriel - 22. Februar 2018

 Zur Info. Vor dem Hintergrund der Diskussion in Deutschland rund um den Hub for Sustainable Finance (H4SF) und die Empfehlungen der High Lebel Expert Group (HLEG) der Europäischen Kommission gibt es nun wieder eine Diskussion zur Rolle (und den beschränkten Fähigkeiten) der Finanzwirtschaft in Bezug auf die Finanzierung der Energiewende: http://www.finance-watch.org/hot-topics/blog/1497-finance-energy-transition Der Autor des Artikels arbeitet bei der französischen Caritas.Wer mehr zu den Empfehlungen der HLEG wissen möchte: wir haben bei CRIC die Empfehlungen der HLEG kommentiert (siehe hier) und ein Dossier zu den wichtigsten Dokumenten, Stellungnahmen und Texten erstellt (siehe hier). (KG)

Date published: 5 January 2018, Finance Watch

Key energy transition data

It is estimated that US$6,200 billion per year will be needed worldwide through to 2030, two thirds of it for developing countries, for the adaptation of their production, consumption and transportation systems.

Between US$140 billion and US$300 billion per year will be needed through to 2030, and US$280 to US$500 per year through to 2050, to help vulnerable countries deal with the consequences of climate change.

Key financial sector data Den Rest des Beitrags lesen »

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Six Months after Paris Accord, We’re Losing the Climate-Change Battle

Posted by hkarner - 2. Juni 2016

Date: 01-06-2016
Source: Technology Review

A new report from the International Energy Agency includes projections for reductions in energy use and carbon dioxide emissions that could be wildly optimistic.

Since the signing of the Paris climate accord in December, have we made any progress in cutting global emissions?

Let’s start with the good news. Emissions in China, the world’s largest producer of carbon dioxide, dropped by around 3 percent in 2015, according to preliminary government statistics, thanks largely to an economic slowdown and a dramatic decrease in the burning of coal. U.S. carbon dioxide emissions from energy consumption (which account for more than 90 percent of total emissions) also fell by nearly 3 percent from 2014 to 2015, according to the U.S. Energy Information Administration. And worldwide, carbon dioxide emissions in 2015 fell by 0.6 percent, according to a study in Nature Climate Change—the first time emissions have shrunk in a period of economic growth, rather than contraction.

And now, the bad news: we still have a long way to go to avoid catastrophic global warming. Den Rest des Beitrags lesen »

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The Greening of African Technology

Posted by hkarner - 21. Mai 2016

Photo of Graça Machel

Graça Machel

Graça Machel is Founder of the Graça Machel Trust, and a member of The Elders, a group of independent global leaders working together for peace and human rights.

MAY 20, 2016, Project Syndicate

JOHANNESBURG – Technological innovation offers Africa huge possibilities. That is why I joined Africa’s movers and shakers last week at a meeting of the World Economic Forum in Kigali, the capital of Rwanda. We were there to discuss how the digital economy can propel the kind of radical change the continent needs.

At the same time, though, we had to think about some old tools that our ancestors passed down to us – namely, how to think for the long term and how to work together. These tools are a form of technology that we need to use now, so that future generations have a chance.

Climate change is the ultimate test of whether we can use the old and new technologies to safeguard our children’s future. Den Rest des Beitrags lesen »

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Can the Private Sector Save Development?

Posted by hkarner - 23. Februar 2016

By and on February 22, 2016 RGE EconoMonitor

Can the Private Sector Save Development?

 It would be difficult to imagine a bigger sea change in thinking and practice about the private sector’s role in international economic development than what we’ve witnessed these past 12 months: from the financing-for-development conference in April that talked about moving from billions to trillions of dollars by crowding in private-sector financial resources, to the Sustainable Development Goals (SDGs) adopted in September, to the United Nations-led climate change negotiations (COP21) in Paris that concluded in December, and finally to conversations about the technology-driven 4th Industrial Revolution ‎at the World Economic Forum in Davos in January.

There is a broad consensus among governments, the private sector, and civil society that business must take the lead if development problems are to be solved.

Profit with purpose, and inclusive, sustainable growth are increasingly considered “must haves,” not “nice to haves.”

But how can we do it? Den Rest des Beitrags lesen »

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Are Stars Aligning for Clean-Energy Financing?

Posted by hkarner - 17. Januar 2016

By , and on January 13, 2016 RGE EconoMonitorHi Tech Solar project

How sovereign and hybrid funds may help address climate change 

One of the biggest bangs at the opening day of the Paris COP21 climate summit was without doubt the dual financing announcements by the Breakthrough Energy Coalition, led by Bill Gates and other high-net worth individuals, and the Mission Innovation, whose signatory governments have committed to doubling their allocations to clean-energy research. The two initiatives aim to increase financing for clean-energy innovation, from the basic research stage -funded by governments- to commercialization of promising new technologies -with venture financing provided by private investors.

In developing countries, where many households and companies have very limited access to energy, new clean-energy technologies will serve the dual purpose of expanding energy access and constraining carbon emissions. For this to happen, innovative thinking will be needed not only in the development of new technology, but also in financing the deployment of these technologies. Den Rest des Beitrags lesen »

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The Paris Climate Change Agreement is an Epic Failure

Posted by hkarner - 15. Dezember 2015

15. Dezember 2015 l

Ein Gastbeitrag von Will Denayer

One thing is certain: as long as the same people are in power we will get nowhere. The expectations for COP21 within the climate change science community were not high to begin with (see, for example, here), but nothing prepared for the disappointment that is being felt now. The conference is over and there is an agreement (see here for the text). Art. 2 states the intention of keeping global temperature rise below 2° C and mentions that ‘efforts’ will be made to limit the rise to 1.5 ° C. In order to reach this goal, CO2 emissions have to peak ‚as soon as possible‘ (Art. 3). A ‘mechanism’ will contribute to the mitigation of greenhouse gases (which one is never explained – it probably refers to the reviews that will be made every five years). Art. 4 sets the global goal of ‚enhancing adaptive capacity, strengthening resilience and reducing vulnerability‘ (how this will happen is never explained). Art. 6 stipulates that the developed countries ’shall provide new/additional/adequate/predictable/accessible/scaled-up finances to assist developing countries’ (this is according to the text of the final draft from Saturday afternoon – how, how much and to accomplish what and where is never explained). Art. 7 states that the developed countries ‘shall strengthen cooperative action of technology development and transfer’ to developing countries. Art. 8 deals with ‚capacity building with countries with the least capacity.‘ The rest deals with ratification and with the ratchet mechanism that will evaluate ‚progress‘ every five years. The words ‚fossil fuels‘ or ‚coal,‘ ‚oil‘ and ‚gas‘ do not occur. There is absolutely nothing concrete, nothing precise, there are no strategies, no instruments, there is no timetable and, as I will explain, there are no realistic goals. Den Rest des Beitrags lesen »

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The Net-Zero Imperative

Posted by hkarner - 15. Dezember 2015

Photo of Eric Beinhocker

Eric Beinhocker

Eric Beinhocker is Executive Director of the Institute for New Economic Thinking at the Oxford Martin School, University of Oxford.

 

Photo of Myles Allen

Myles Allen

Myles Allen is Professor of Geosystem Science and Leader of the Climate Research Program at the School of Geography and Environment, University of Oxford.

DEC 14, 2015, Project Syndicate

OXFORD – The world has reached an historic agreement on climate change. The deal concluded at the United Nations Climate Change Conference in Paris commits countries to take steps to limit warming to “well below” 2º Celsius relative to pre-industrial levels and to pursue “efforts” to limit warming to 1.5ºC. It also obliges developed countries to provide $100 billion per year in assistance to developing countries. But, unfortunately, the final negotiations dropped the one number that truly matters for the future of our planet: zero.

That is the net amount of carbon dioxide we can emit if we are ever to stabilize the planet’s temperature at any level. Zero, none, nada. The Earth’s atmosphere-ocean system is like a bathtub filling up with CO2 and other greenhouse gases: The higher the level, the warmer the planet will be.

The emissions tap must be turned off once the bathtub reaches a level associated with a certain level of warming – say, 2ºC, above which, scientists nearly unanimously agree, the risks become severe, tipping points become possible, and civilization’s ability to adapt is not guaranteed. Otherwise, the atmospheric bathtub will keep being filled, warming the planet 3º, 4º, 5º, and so on, until emissions eventually stop – or we go extinct. The sooner we turn off the tap, the lower the temperature at which the climate stabilizes, the less risk we will face, and the lower the cost we will incur in adapting to a warmer planet. Den Rest des Beitrags lesen »

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Climate Accord Is a Healing Step, if Not a Cure

Posted by hkarner - 13. Dezember 2015

Date: 13-12-2015
Source: The New York Times

The deal establishes regular reviews to encourage countries to lower emissions over time.

LE BOURGET, France — After the stomping and cheering died down, and the hugs and toasts ended, a question hung in the air as the climate conference came to a close: What does the new deal really mean for the future of the Earth?

Scientists who closely monitored the talks here said it was not the agreement that humanity really needed. By itself, it will not save the planet.

The great ice sheets remain imperiled, the oceans are still rising, forests and reefs are under stress, people are dying by tens of thousands in heat waves and floods, and the agriculture system that feeds seven billion human beings is still at risk.

And yet 50 years after the first warning about global warming was put on the desk of an American president, and quickly forgotten, the political system of the world is finally responding in a way that scientists see as commensurate with the scale of the threat. Den Rest des Beitrags lesen »

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