An old Wall Street adage says “the market hates uncertainty.” Well, businesses received an unambiguous message last week with the latest Intergovernmental Panel on Climate Change report.
It’s not every day that several former Heads of State, the leader of the global trade union movement, an organizer of urban slum dwellers, a business leader, and a number of other leaders and advocates all come together on the same page.
But last week it happened. And even more strikingly, it was their common concern about climate change that brought them together.
A diverse group of global leaders launched the Declaration on Climate Justice to highlight the impacts of climate change on world’s most vulnerable people and the urgent need to build a “just transition” to low-carbon and climate-resilient societies. The Declaration outlines the priority actions needed to achieve a climate-just society in the near- and long-terms. (See our backgrounder for more information on the issues raised in the Declaration.)
Yesterday, the Obama Administration released the sixth U.S. Climate Action Report (CAR6) for public review, to be submitted to the United Nations Framework Convention on Climate Change (UNFCCC) in January 2014. The report, which all developed countries are required to complete, outlines U.S. historical and future greenhouse gas (GHG) emissions, actions the country is taking to address climate change, and its vulnerability to climate change impacts. This report follows the President’s recently announced Climate Action Plan, which, as the CAR6 report shows, could enable the United States to meet its international commitment of reducing emissions 17 percent below 2005 levels by 2020—if it acts ambitiously, that is.
However, as the report acknowledges, U.S. government agencies will need to propose new rules and take other steps to implement the Climate Action Plan. CAR6 factors in this uncertainty and shows that implementation of the Climate Action Plan will result in reductions in the range of 14 to 20 percent below 2005 levels by 2020 (not taking into account land use). As WRI found in our report, Can The U.S. Get There From Here?, the Obama Administration can achieve a 17 percent emissions-reduction target only by taking ambitious “go-getter” action.
Now is a good time to reflect on what the United States has done over the past four years and what still needs to happen across the major emissions sources in order meet the national emissions-reduction goal and curb the effects of climate change.
Earlier today, the Intergovernmental Panel on Climate Change (IPCC) released the Summary for Policymakers of Working Group I’s (WGI) portion of the 5th assessment report (AR5) on climate change. The report, focused on the physical science of our climate system, confirms the overwhelming scientific consensus that the world is warming and human activities are responsible. Without immediate action to curb...
EDITOR'S NOTE 11/18/13: After this blog post was published, the IPCC updated its Summary for Policymakers. The figures in this blog post have been updated to reflect new information.
The Intergovernmental Panel on Climate Change’s (IPCC) Fifth Assessment Report (AR5) has delivered an overwhelming consensus that climate change impacts are accelerating, fueled by human-caused emissions. We may have just about 30 years left until the world’s carbon budget is spent if we want a likely chance of limiting warming to 2 degrees C. Breaching this limit would put the world at increased risk of forest fires, coral bleaching, higher sea level rise, and other dangerous impacts.
When Will Our Carbon Budget Run Out?
The international community has adopted a goal for global warming not to rise above 2°C compared to pre-industrial temperatures. Scientists have devoted considerable effort to understanding what magnitude of emissions reductions are necessary to limit warming to this level, as the world faces increasingly dangerous climate change impacts with every degree of warming (see Box 1).
IPCC AR5 summarizes the scientific literature and estimates that cumulative carbon dioxide emissions related to human activities need to be limited to 1 trillion tonnes C (1000 PgC) since the beginning of the industrial revolution if we are to have a likely chance of limiting warming to 2°C. This is “our carbon budget” – the same concept as a checking account. When we’ve spent it all, there’s no more money (and the planet’s overdraft fees will be much more significant than a bank’s small charges for bounced checks).[^1]
The Intergovernmental Panel on Climate Change (IPCC) released the Working Group 1 (WG1) portion of its fifth assessment of climate change.
This post was written by Lord Nicholas Stern, president of the British Academy, and Felipe Calderón, former president of Mexico and a WRI Board member. It originally appeared on Project Syndicate.
This Friday, in its latest comprehensive assessment of the evidence on global warming, the United Nations Intergovernmental Panel on Climate Change will show that the world’s climate scientists are more certain than ever that human activity – largely combustion of fossil fuels – is causing temperatures and sea levels to rise.
In recent years, a series of extreme weather events – including Hurricane Sandy in New York and New Jersey, floods in China, and droughts in the American Midwest, Russia, and many developing countries – have caused immense damage. Last week, Mexico experienced simultaneous hurricanes in the Pacific and in the Gulf of Mexico that devastated towns and cities in their path. Climate change will be a major driver of such events, and we risk much worse.
This puts a new debate center stage: how to reconcile increased action to reduce greenhouse gas emissions with strong economic growth.
Equity and Justice Informing a New Climate Agreement
This paper explores the links between climate change and justice. It establishes why climate change is an issue of justice, analyzes the potential role of justice in the agreement currently being negotiated for 2015, and explores climate justice narratives. This paper is written for climate...
According to new WRI analysis, in the near- to mid-term, Michigan can meet and possibly exceed future emissions standards for existing power plants. The state has renewable energy (RPS) and energy efficiency standards in place that are already set to achieve significant reductions in CO2 emissions from the power sector.
Low-carbon development has become the core theme of China’s urbanization. In fact, it’s one of the country’s key strategies to achieve its target of reducing carbon intensity by 40-45 percent by 2020.
China’s National Development and Reform Commission (NDRC) has identified 36 pilot cities and assigned them several tasks.