The stories we followed last month highlighted the staggering rise of #greenfinance
and technologies. #Greenbonds
and other sustainability-linked instruments are selling at record highs, while #cleanenergy
is taking off faster than expected.?Many media voices focused on the state of the planet, pointing out that oceans are continuing to warm at an alarming pace, while new research underscored that over half of global GDP is exposed to severe climate and nature risks. What are the climate measures taken by countries and regional blocks? The
European Union
introduced new tariffs on high-emissions goods like steel. The US Government passed new measures to ensure two-thirds of new passenger cars sold in the country are all-electric by 2032. India waived transmission fees for #renewable
power to #hydrogen
manufacturing plants commissioned before January 2031. The #COP28
president reiterated the importance of looking at the climate crisis with a business mindset. And Ajay Banga,
世界银行
Group presidential nominee, said he has high ambitions to expand the Group’s lending.
- Fatih Birol: Clean energy is moving faster than you think
(
Financial Times
) The ongoing energy security crisis has demonstrated how shocks can shake systems out of inertia. An array of clean energy developments, such as solar panels, wind turbines, electric vehicles and heat pumps, is taking off, including in sectors where emissions are most challenging to reduce, such as steel.
- Mitigating the debt/climate tradeoff
(
Project Syndicate
) Rising interest rates are pushing low-income, climate-vulnerable countries into debt distress, making it even more challenging for their governments to invest in conservation and decarbonization. But innovative financial solutions like debt-for-nature swaps could help alleviate debt burdens while strengthening climate resilience.
- PwC research shows global GDP at serious risk from climate change
(IOL) More than half, or 55% of the world’s gross domestic product (GDP) is exposed to material nature risk, according to new research by the global professional services and accounting firm PwC, that was released on the eve of Global Earth Day, which was on Saturday.
- Climate change: recent, rapid ocean warming alarms scientists
(
BBC
) A recent, rapid heating of the world's oceans has alarmed scientists concerned that it will add to global warming. This month, the global sea surface hit a new record high temperature. It has never warmed this much, this quickly. Scientists don't fully understand why this has happened. But they worry that, combined with other weather events, the world's temperature could reach a concerning new level by the end of next year.
- A New Tax on Greenhouse Gases
(
纽约时报
) In a first, the European Union is imposing a charge on some high-emissions imports like steel. It didn’t get a lot of attention, but it’s a big deal because these kinds of tariffs could be very effective in reducing the industrial carbon dioxide emissions that are heating the planet to dangerous levels.
- US World Bank nominee Banga endorses lending expansion, pledges more
(
Reuters
) Ajay Banga said in his first major address on his plans for the World Bank's future that he has high ambitions for reforming the world's largest development lender, but the effort would take some time. He added that the World Bank's major role in this area will be to reduce or remove risk from climate investments in developing countries so the private sector can invest in them "at scale."
