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The Greenhouse Gas (GHG) Protocol recently partnered with the UNEP Finance Initiative in a critically important endeavor – developing guidance to help the financial sector measure its ”financed emissions” and track reductions. These types of emissions, which are associated with lending and investments, are the most significant part of a financial institution’s carbon footprint.

We are seeking responses to a short (5 – 10 minute) online survey to assist us in establishing the content of the new guidance, which will supplement the GHG Protocol’s Corporate Value Chain (Scope 3) Accounting and Reporting Standard. The deadline for completing the survey is November 23, 2012.

As risk management experts, it’s essential that financial institutions have the necessary tools to consider the implications of continued investment in, and financing of, carbon-intensive sectors and companies. Some financial institutions have developed their own methodologies for accounting for financed emissions, but there’s a lack of consistency between them. Financial institutions need new guidance like that being developed by GHG Protocol and UNEP to adopt risk-management policies and lending procedures that address climate change in a systematic way across the sector.

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Hurricane Sandy was a massive and deadly storm, extending more than 1,000 miles, bringing huge waves and more than 13 feet of water to parts of New York City. In Manhattan, floods swept away cars and overflowed subway stations. Along the Jersey shore, homes, property, and businesses were washed away in just a few hours. More than 8 million people in the northeastern United States lost power. Tens of millions more have been affected. And tragically, more than 160 people lost their lives. Outside of the United States, six Caribbean countries were battered by the storm, taking lives and destroying property as it struck. Some early estimates say the storm will cost $50 billion; others say it will be more.

Sadly, science tells us that this type of event will become much more common as our climate continues to change.

Climate change is here and its impacts are being felt today. As Governor Cuomo said earlier this week, “Anyone who says there is not a dramatic change in weather patterns is denying reality.”

This week, Hurricane Sandy drew attention to the increasing climate-related risks for communities and businesses.

More and more companies are recognizing and reporting on actions they’re taking to “mitigate” climate change, reducing greenhouse gas (GHG) emissions through energy efficiency, renewable power, and cleaner vehicles. Now, businesses are finding they’ll also need to “adapt” to more volatile conditions and help vulnerable communities become more resilient. Adaptation means recognizing and preparing for impacts like water stress, coastal flooding, community health issues, or supply chain disruptions, among other issues.

WRI discussed why businesses need to embrace mitigation AND adaptation strategies at the recent Net Impact conference, where I sat on a panel entitled: “Climate Change Adaptation: Mitigating Risk and Building Resilience.” Dr. David Evans, Director of the Center for Sustainability at Noblis, moderated the panel. Other panelists included Gabriela Burian, Director for Sustainable Agriculture Ecosystems at Monsanto, and John Schulz, Director of Sustainability Operations at AT&T.

This post originally appeared in the National Journal's Energy Experts blog as a response to the question: "What Is Climate Silence Costing Us?"

The recent silence on climate change in the U.S. political discourse is extremely troubling. As we can see from the recent spate of extreme weather events, the costs of inaction are clear in terms of both environmental and economic impacts. If we are going to meet the challenge of the global climate threat, we need to have a real, rational discussion about climate change. Having that discussion requires national leadership on this issue.

The irony is that despite the relative silence on the campaign trail, U.S. public opinion on climate change is shifting, with a growing number of people recognizing that more needs to be done to address this issue. As WRI’s president Andrew Steer said in a recent New York Times interview, “On climate change, the political discourse here is massively out of step with the rest of the world, but also with the citizens of this country. Polls show very clearly that two-thirds of Americans think this is a real problem and needs to be addressed.”

Last week, ministers from 50 countries convened in South Korea for a “Pre-COP” meeting to prepare for the upcoming UNFCCC conference in Doha, Qatar (COP 18). Ministers confirmed their commitment to negotiate a new international climate framework by the end of 2015, as outlined in the Durban Platform agreed to at COP 17 last year.

While the Durban Platform gave new momentum to multilateral climate negotiations, the emissions gap remains large: The greenhouse gas reductions countries are currently willing to commit to don’t add up to the global reductions needed to limit warming to 2° C above pre-industrial temperatures. It’s clear that leaders need new ways to increase ambition enough to close this gap and reinforce the UNFCCC.

In this context, we are seeing a renewed interest in “clubs” – smaller groups of countries coming together to act on climate change, complementing the UNFCCC process. The question, though, is whether such clubs can make real progress toward closing the emissions gap.

This post was co-authored by Forbes Tompkins, an intern with WRI's Climate and Energy Program.

With much of the Mid-Atlantic and Northeast bracing themselves for Hurricane Sandy's landfall, it’s important to note the human toll this hurricane has already left in its wake. At least 39 lives were lost in Haiti and Cuba, and more than 3,000 buildings were damaged in eastern Cuba alone by the hurricane.

Many are predicting that this storm will bring significant damage to United States. If Sandy hits with full force, the Mid-Atlantic could face rainfall totals between 3 and 7 inches in Washington, D.C., historic flooding along the coasts, and widespread power outages resulting from wind gusts that could exceed 60 mph. The storm could exceed the impacts of Hurricane Irene, in August 2011, which brought record rainfall and cost nearly $10 billion in damage.

States along the eastern seaboard are preparing for the storm. Governor Christie ordered the evacuation of New Jersey’s barrier islands and closure of the state’s casinos by 4 p.m. Sunday. Governor Cuomo ordered New York City’s transit service to suspend bus, subway, and commuter rail service starting at 7 p.m. Sunday.

The Climate Change Connection

This post was co-authored by Dominique Labaki, an intern with WRI's External Relations department.

Last Friday, experts from the ChinaFAQs Network and top media representatives participated on a press call on climate and energy policy under China’s incoming president, Xi Jinping, and other new leaders. The participants focused on the drivers underlying China’s energy and climate policies and actions. Key issues included whether the country can sustain its renewable energy growth, confront rising coal demand, and follow through on its climate change targets in the 12th five-year plan. All of these issues are emerging as the country faces its first major economic slowdown in more than a decade. This blog post highlights experts’ discussion during the press call.

New Leadership and the 12th Five-Year Plan

Kenneth Lieberthal, Senior Fellow in Foreign Policy and Global Economy and Development at Brookings, opened the discussion. As he explained, nearly 70 percent of China’s top leadership positions are expected to change in November, but the make-up of the Standing Committee of the Politburo remains uncertain. In Lieberthal’s view, China’s new leaders will first focus on domestic challenges, primarily around re-balancing the economy.

The second meeting of the Green Climate Fund (GCF), the institution that’s expected to become the main global fund for climate change finance, will take place tomorrow in Songdo, Korea. While the Board will discuss several issues—everything from criteria for its executive director to hammering out a work plan—one is likely to take center stage: choosing the Fund’s host country.

Six countries are currently vying for the role: Germany (Bonn), Korea (Songdo), Mexico (Mexico City), Namibia (Windhoek), Poland (Warsaw), and Switzerland (Geneva). The decision is an important one—the appointed country will be tasked with providing a home for one of the main vehicles to help the world’s most vulnerable nations mitigate and adapt to climate change.

Today is World Food Day, a chance for people all over the world to focus on approaches to end global hunger. Celebrated each year to commemorate the founding of the UN Food and Agriculture Organization (FAO), this day provides us with an opportunity to assess where the world is today in regard to food security – and what we’ll all have to do in the future to achieve it.

How Do You Feed 9 Billion People by 2050?

For much of the planet, food security isn’t a concern on just one day of the year—it’s a daily struggle. According to the FAO, 870 million of the world’s poor are already undernourished, and yet global human population is projected to increase from 7 billion to more than 9 billion by 2050. To sufficiently feed these people, worldwide food availability will need to increase by at least 52 percent from 2007 levels.

Yet agriculture is already having huge impacts on the world’s environment and resources. For instance, agriculture is the direct driver of about 80 percent of tropical deforestation. Agriculture is responsible for up to 85 percent of the world’s consumption of freshwater, and nutrient runoff is a major cause of water quality degradation globally. And according to WRI’s Climate Analysis Indicators Tool (CAIT), food production accounts for up to 27 percent of global greenhouse gas emissions per year due to deforestation, livestock, energy consumption on farms, and fertilizer use.

This post originally appeared on WRI's ChinaFAQs site.

When it comes to coal consumption, no other nation comes close to China. The country reigns as the world’s largest coal user, burning almost half of the global total each year. About 70 percent of China’s total energy consumption and nearly 80 percent of its electricity production come from coal, and its recent shift from being a historical net coal exporter to the world’s largest net coal importer took only three years.

China’s great thirst for coal is undeniably troubling from a sustainable development standpoint. However, the situation may be changing. I recently joined three other experts to speak at a Congressional briefing entitled, “Why China Is Acting on Clean Energy: Successes, Challenges, and Implications for U.S. Policy.” While my fellow speakers spoke about the progress of clean energy development in China, I sought to explain how the growing constraints on coal development are acting as one factor pushing China to move more aggressively towards clean energy.

Listen to the recording of WRI's press call on "China's Leadership Transition and Implications for Energy and Climate.


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