Center for Climate and Energy Solutions (C2ES)的动态

?? #COP29 is fast approaching The EFR - European Financial Services Round Table has reached out to the ????EU delegation reiterating support of the Paris Agreement and outlining views about the role of the financial sector. ?? 4 topics should be adequately addressed: 1?? Regulation should support investment in the transition; 2?? Interoperability in global standards is key; 3?? Investment in transition activity is as important as “bright green”; 4?? The prudential framework for climate-related factors should remain risk-based. With Theo Timmermans

In view of the upcoming COP29, the EFR has shared it views with global policymakers, who are key to tackling climate change, on how policy should be developed so that the financial sector can play its envisaged role.

At COP29, Singapore joined an expanded taxonomy on green financing with the EU and China, aligning financial flows with low-carbon activities across borders. Our briefing highlights Asia’s leadership in transition finance, which is used to decarbonise high-emitting sectors, and the importance of taxonomies including clear definitions and robust classification standards to avoid ‘transition-washing’. ?? Read the full briefing here: https://lnkd.in/eUqg-KCx #COP29 #COP29Azerbaijan #TransitionFinance

EFR COP29 letter to global policymakers on necessary policies. From the outset the EFR ?and its Members have been strong supporters of the ambitious Paris Agreement from COP21. The EFR particularly welcomes recognition of the contribution the financial sector can make and recognising the role that insurance and the financial industry in general play in tackling the loss and damage associated with climate change impacts. In view of the upcoming COP29, the EFR has shared its views with global policymakers, who are key to tackling climate change, on how policy should be developed so that the financial sector can play its envisaged role. The EFR reiterates that for the financial sector four topics should be adequately addressed: 1) Regulation should support investment in the transition; 2) Interoperability in global standards is key; 3) Investment in transition activity is as important as “bright green”; 4) The prudential framework for climate-related factors should remain risk-based. https://lnkd.in/eBAptGtG

This situation underscores the need for more collaborative efforts to bridge these differences, as well as innovative financing mechanisms that could help address the concerns of both developed and developing countries. This will likely be a key area of focus and negotiation as #COP29 approaches. https://lnkd.in/dyqGMVuB

???? New article! As a timely topic, I am examining in this article how climate policies can be protected from political contingencies. ?? Transforming our economies towards sustainability is an ambitious journey, underpinned by the 2015 Paris Agreement, which targets carbon neutrality by 2050. Achieving this involves each country's Nationally Determined Contributions (NDC) and Long-Term Strategies (LTS), outlining their plans to meet these critical objectives. The transition pathway concept is crucial for guiding this decades-long transformation, demanding careful policy design. ?? Policies must balance scope, intensity, and continuity. Broad policies impact various sectors, necessitating equitable measures. High-intensity policies drive rapid change but may face political backlash, while low-intensity ones risk delaying progress. Continuity ensures long-term investments align with evolving policies, as seen in the automotive and nuclear sectors. ?? Intertemporal consistency is key. Decisions today shape tomorrow’s landscape, with path dependency reinforcing long-term commitments. However, this creates a democratic and economic challenge, balancing current and future generations' costs. A carbon price trajectory helps navigate these trade-offs. ?? Adaptive decision-making offers a flexible approach, allowing adjustments without incurring high costs. Japan’s Green Transformation exemplifies innovative policy design, using debt to finance decarbonization, with future carbon pricing measures ensuring repayment and continuity. ?? As Europe faces political shifts, viewing environmental policies as decision pathways can provide the private sector with the stability needed for sustainable investments. #Sustainability #ClimateAction #GreenEconomy #ParisAgreement #PolicyInnovation Xavier Blot, Fanny Verrax, Thomas Gauthier, Valérie Jobard

Hello again from COP29! Some updates from the Finance, Investment, and Trade Day (14 November): ? Slow Progress on the Post-2025 Climate Finance Goal, aka New Collective Quantified Goal (NCQG) ?? Negotiators are struggling to finalize the NCQG. ??Solidarity levies have emerged as an option for raising some of the money needed for climate action. Possible targets of such levies could include cryptocurrency, the ultra-wealthy, and frequent flyers. ??Developing countries are resisting attempts by developed nations to include countries like China and Gulf states in the contributor base for the finance goal. This resistance is rooted in the principle of common but differentiated responsibilities (CBDR), which acknowledges that developed countries have historically contributed more to climate change and thus should bear a greater burden in financing mitigation and adaptation efforts. New Report by the Independent High Level Expert Group (IHLEG) on Climate Finance states that global projected investment requirement for climate action is around $6.3–6.7 trillion per year by 2030; the report suggests tripling the current $100 billion commitment from advanced economies to $300 billion, with the rest coming from the private sector and multilateral development banks. Negotiations on Articles 6.4 and 6.2 (carbon markets) ??Facilitators released a document yesterday on article 6.4 (on a mechanism to contribute to the mitigation of GHG emissions), with the intent to make progress on 2 key aspects: authorisation and registration. ??On article 6.2 (on the use of internationally transferred mitigation outcomes towards NDCs), the Chair of the Subsidiary Body for Scientific and Technological Advice (SBSTA) told parties to work hard to produce a clean text for today. Other negotiation streams ??Just transition – country groups generally wanted inclusion of strong language around justice for developing countries. ??Agriculture – a draft text is being proposed on an online portal for information on projects, initiatives and policies addressing issues related to?agriculture and food security.? ??Mitigation – the position on this hasn’t moved since the last negotiations in Bonn, noting the importance of not backtracking on this ??Nationally determined contributions (NDCs) – the UK, Brazil and UAE have presented their new NDCs. ? Today is the Energy / Peace, Relief, and Recovery Day, and so far it’s been an interesting one. It seems there’s frustration with the slow pace of negotiations, particularly on the NCQG. But as one negotiator mentioned over lunch, “you cannot be a negotiator and be a pessimist, or you won’t get anywhere”. ? To keep track of negotiations on various streams, I highly recommend: https://lnkd.in/ebj9xqFN

Going into COP16, many financial institutions are calling for stronger policy signals to further mobilize private finance for net-zero and nature-positive transition, and bring our economies into a safe and just operating space. Shandi Modi Todd Lemons Tom Sparke Maike Heidemeyer Jano De Rutte Maximiliano Bello Cristian Laborda Ignacio Cueto Marianne Feoli #marineprotectedareas #bluefinance #cop16

*Decoding NCQG ( _New Collective Quantified Goal on Climate Finance_ ) the new climate finance target* What is the New Collective Quantified Goal on Climate Finance (NCQG), the *leading theme of COP29?* The NCQG is basically a *target for finance* . It will indicate the *funds that should be mobilised annually to support climate action projects in developing countries* . In 2009, at the COP15 held in Copenhagen, developed countries set a target of $100 billion per year. This target was to be met by 2020. The OECD ( _Organisation for Economic Cooperation and Development_ ), which is a ‘rich countries club’, declared that _the $100-billion target was met in 2022, which many dispute_ . But that is another point.) At the COP21 held in Paris in 2015, which resulted in the famous *Paris Agreement* , countries agreed that they would set a _New Collective Quantified Goal on Climate Finance in 2024._ *This NCQG would replace — and be higher than — the $100 billion target* . The *NCQG* is expected to be decided and adopted at the ongoing *COP29 in Azerbaijan* . Plz ????Read in the pic for below answers???? How is NCQG different from the ‘$100 billion’ target? What kind of activities will NCQG finance? What is likely to be the NCQG target? What are the key discussions points under NCQG? PLZ read in the pic in detail????

Essential reading for #COP29 attendees! Ian Mitchell and Edward Wickstead have published a new COP29 primer, comparing the world’s major economies on three KPIs: #emissions, #energy policy, and #international #finance. How committed is your country to tackling #climatechange? Explore the indicators ??? https://bit.ly/3Z1qNAB