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Climate, Energy & Transport

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.

This post originally appeared on Bloomberg.com.

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 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.

Who said urban transport was boring? Certainly not the 1,100 people who recently gathered in Mexico City at the 8th annual International Congress on Sustainable Transport. The event, organized by colleagues at EMBARQ Mexico, brought together leading government officials, practitioners, academics, and other professionals to explore lessons and find new solutions to global transportation challenges. I was amazed by the energy and excitement that pervaded the event and by the ideas and innovations emerging in this field.

I had the pleasure of addressing the plenary on the bigger context for urban transport in today’s global society. With nearly a billion people being added to the world’s cities in the coming decades, how transport systems are designed will be pivotal for livelihoods, society, and the global environment. Transportation goes to the heart of how we live and what kind of future we want.

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.

This post originally appeared on Forbes.com.

What do three leading chemical, automobile, and software companies have in common? All three – Honda, BASF, and SAP – are looking to curb risks and take advantage of opportunities across their global supply chains. They’re doing so by measuring their greenhouse gas emissions—not just in their operations, but up and down their value chains.

Many other multinationals are heading in the same direction. The Carbon Disclosure Project’s (CDP) annual survey of the Global 500, released last month, reveals that seven in ten respondents measured some value chain emissions in 2011, up from about half in 2010. (Note this figure is based on WRI’s analysis of the 405 companies that submitted data to the CDP 2012 survey data.)

What’s driving the world’s biggest corporations down this path? In a nutshell: reputation, risk, and opportunity.

This post was co-authored with Wendi Bevins, an intern in WRI's Climate and Energy Program.

On September 25, the World Resources Institute (WRI) and the Mary Robinson Foundation – Climate Justice (MRFCJ) signed a Memorandum of Understanding, formally launching the "Climate Justice Dialogue." This initiative aims to mobilize political will and creative thinking to shape an equitable and ambitious international climate agreement in 2015—one that ensures environmental integrity and protects the communities most vulnerable to climate change.

The State of International Climate Negotiations

It’s now a full 20 years since adoption of the United Nations Framework Convention on Climate Change (UNFCCC), which is designed to stabilize “greenhouse gas concentrations in the atmosphere at a level that would prevent dangerous anthropogenic interference with the climate system.” Despite important steps forward in Cancun and Durban, governments acknowledge that their combined efforts in reducing greenhouse gas emissions are insufficient to limit a global average temperature increase to 2°C.

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