Topic: climate business

STATEMENT: World Bank "Raises Alarm" of a 4 Degree Hotter World

Michael Oko — Sun, 18 Nov 2012 19:51:06 -0500

The World Bank Group just released a groundbreaking new report on climate change, called Turn Down the Heat, which offers a vivid assessment of what 4 degrees Celsius of global temperature rise would mean for the world.

Following is a statement by Andrew Steer, President, World Resources Institute:

“This report should awaken world leaders out of their slumber on climate change. A 4 degree temperature rise would bring unimaginable costs to people and society. We must take the necessary actions now to stay within 2 degrees or lower of warming.

“The differences between 2 degrees and 4 degrees temperature rise are stark. It took little more than four degrees of cooling to create the Ice Age, so imagine the havoc 4 degrees of warming would create. While the impacts would be uneven around the globe, vulnerable countries and poor people would be hardest hit. Communities already facing economic hardship would face longer droughts and more intense monsoons that disrupt food supply, more diseases associated with warmer temperatures and more pests, and greater water scarcity.

“The World Bank is to be congratulated for raising the alarm on this issue. By doing so they are aligning themselves with the majority of scientific opinion on climate change. It’s worth noting that the World Bank is a financial institution and not prone toward exaggeration. This report, therefore, must not be shrugged off. The World Bank itself can do more to raise ambition through its own financing, including by directing the great bulk of its energy investments toward scaling up renewable energy and energy efficiency. Further, the World Bank can channel more resources toward more projects that will enhance innovation and sustainability, as well as climate resilience.

“As negotiators head to Doha for the climate talks, they must bring a greater sense of urgency and purpose to these negotiations. A 4 degree warmer world can be prevented, but this will require greater leadership and imagination than has been shown to date. All negotiators should re-commit to keep the world within 2 degrees of warming. But we need more than UN negotiators to respond.

“Climate change is one of the great challenges of our generation, and we need to bring the full capacity of governments, businesses, multi-lateral institutions, and civil society to confront these challenges. Around the world, there are numerous examples of how the problem could be solved at low-cost and with high returns. We have no more excuses for inaction.

“The alarm bell on global warming is ringing. Let’s hope world leaders are listening.”

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Dr. Steer previously worked as the World Bank Group’s Special Envoy for Climate Change.

STATEMENT: President Obama Elected to a Second Term

Michael Oko — Tue, 06 Nov 2012 23:04:46 -0500

Following is a statement by Andrew Steer, President, World Resources Institute:

“With his re-election, President Obama has the opportunity to fulfill the promise of his campaign and tackle the greatest challenges of our generation. At the top of the list should be climate change—which is already taking a serious toll on people, property, resources and the economy.

“After a long and bruising battle, it’s time for elected officials to get off the stump and get back to the job of governing. It’s time for America’s leaders to come together and find common ground on vital issues for people and the planet.

“In its first term, the Obama administration made real progress to reduce harmful emissions and shift the country toward cleaner energy. The administration implemented historic clean vehicle rules, proposed standards for greenhouse gas emissions for new power plants, and directed unprecedented investments in clean energy, among other achievements.

“But, these actions aren’t enough. The reality is that the Obama Administration has not yet put the country on a pathway to truly confront the climate crisis. First off, the United States needs a strong national climate and energy strategy. The president should begin by re-engaging a dialogue on climate change and identifying the actions needed to address the crisis. The president should work with Congress on national-level policies, including putting a price on carbon, to get the country on a low-carbon trajectory. In addition, the EPA, in particular, has the ability to implement new standards to reduce dangerous greenhouse gases from existing power plants. The president should reject proposals that would over-exploit America’s resources, decimate its lands, or increase its dependence on high-carbon fuels.

“Many leading businesses are looking for greater clarity to stay competitive in the global economy and take advantage of the emerging $2.3 trillion clean energy market. They need to set long-term goals, which are currently being undercut by America’s piecemeal approach on climate and energy.

“In the international arena, the Administration should take a more constructive role around the climate negotiations. President Obama has shown the power of bold leadership on big international issues—and he has the opportunity to make an ambitious international climate agreement part of his legacy.

“Since he took office, President Obama has been a champion of transparency and good governance. In particular, he spurred the creation of the Open Government Partnership, consisting of over 40 countries, to promote transparency and citizen engagement around the world. In his second term, he can help ensure that access to information and citizen engagement in government will continue unabated.

“Just last week, Hurricane Sandy delivered a crippling blow, reminding us what climate change looks like. Climate change is here and its impacts are being felt today. In its aftermath, we have seen how people can come together in times of need, set aside their differences, and focus on the big picture. We need to learn from these lessons and turn them into action.

“President Obama’s legacy will be shaped by his ability to take on big challenges, including climate change, clean energy, environmental protection, and sustainability. The next four years will determine if we will truly be able to say that this presidency moved the country ‘Forward!’”

COP 18: Doha

Kevin Lustig — Fri, 02 Nov 2012 09:09:59 -0400

WRI Experts at COP 18

WRI Events at COP 18

COP 18 Commentary

From November 26 to December 7, 2012, the United Nations will host the 18th Conference of the Parties (COP) in Qatar.

WRI experts will be in attendance at this latest meeting under the UN Framework Convention on Climate Change (UNFCCC) to help inform the talks. Here, you can find a variety of materials from the World Resources Institute that shed light on key areas of international climate policy.

WRI Resources for COP 18

Reading Resources on Using Public Climate Finance to Leverage Private Capital

Sarah Parsons — Tue, 14 Aug 2012 12:52:35 -0400

This document is drawn from Appendix II of WRI’s working paper, Moving the Fulcrum: A Primer on Public Climate Financing Instruments Used to Leverage Private Capital. This working paper demonstrates how the public sector can employ different types of public financing instruments — whether loans, equity, or de-risking instruments — alongside policy and technical support to scale-up private sector investment in low-carbon markets.

Moving the Fulcrum is part of WRI’s Climate Finance series, which tackles a broad range of issues relevant to public donors, intermediaries, and recipients of climate finance. A subset of this series, including this primer, examines how public climate finance providers—whether governments, development finance institutions, or international finance mechanisms like the proposed Green Climate Fund–can meet the significant investment needs of developing countries by mobilizing private sector investment. It focuses on how the public sector can finance and mobilize investment into private sector projects, but also acknowledges the importance of overarching support for complementary low-carbon policies. Low-carbon sectors specifically considered include renewable energy, energy efficiency, and related infrastructure and services, though lessons may equally apply to other climate change-relevant sectors like sustainable agriculture, transportation, and water infrastructure.

This document was originally published in August 2012, and updated in January 2013 to include new resources.