While many people are traveling to Warsaw this week to participate in the international climate negotiations (COP 19), the city is also hosting another global conference: the International Coal and Climate Summit. It’s a troubling juxtaposition—coal contributes to 43 percent of global greenhouse gas emissions, making it a major driver of climate change. In fact, a new statement released by leading scientists suggests that nearly three-quarters of fossil fuel reserves—especially coal—must remain unused if the world is to limit temperature rise to 2 degrees Celsius. In other words, limiting sea level rise, extreme weather events, heat waves, and other climate impacts requires staying within world’s “carbon budget”—which doesn’t include unabated coal use.
Adapting to the impacts of climate change—like heat waves, increased floods, and natural disasters—is an enormous challenge. It’s also one that comes with an enormous price tag. Although it’s difficult to calculate the extent of the costs, the World Bank estimates that developing countries need $70 to $100 billion USD per year through 2050 to meet their current and future climate adaptation needs.
The Climate Policy Initiative, however, estimates that in 2011, only $4.4 billion USD in adaptation finance went to developing countries. This leaves a gap of anywhere from $65.6 to $95.6 billion USD per year between what developing countries need and what developed nations are giving.
So who can help fill this gap?
As the risks that climate change poses to business becoming ever clearer, corporate executives are increasingly recognizing that policy action is essential. The Guide to Responsible Corporate Engagement in Climate Policy—from the U.N. Global Compact, U.N. Framework Convention on Climate Change, U.N. Environment Programme, World Resources Institute, CDP, WWF, Ceres, and The Climate Group—for the first time establishes a shared, practical definition of responsible corporate engagement. The new guide details three essential steps businesses can take to effectively engage in climate policy.
First-of-its-Kind Guide Calls on Companies to Align Corporate Sustainability Initiatives and Climate Policy
WASHINGTON– For the first time ever, companies have a guide to manage and report on their direct and indirect influences on climate policy. The UN Global Compact, in cooperation with seven leading international organizations, today released guidelines to help companies engage in climate policy in a transparent and accountable way that is consistent with their sustainability commitments.
A Caring for Climate Report
This guide provides practical insights on why and how companies can provide constructive influences on climate policy. It is the output of a review and consultation on responsible corporate engagement, undertaken by the UN Global Compact in cooperation with UNEP, UNFCCC, WRI, UNGC, CDP, WWF,...
The Guide for Responsible Corporate Engagement in Climate Policy--produced by U.N. Global Compact, U.N. Framework Convention on Climate Change, U.N.
Strategies to mitigate and adapt to climate change’s impacts will be costly, so success at COP 19 hinges on making progress on climate finance. It’s important that negotiators pursue three actions: scaling up adaptation finance; developing pathways to secure $100 billion in climate finance by 2020; and moving the Green Climate Fund forward.
This set contains data from a detailed review of the 2010-2012 fast-start finance (FSF) contributions of five countries reporting the largest FSF contributions (Germany, Japan, Norway, the UK, and the USA) and from a supplemental
In order to understand where the climate finance agenda is likely to go, it is first necessary to grasp where it stands today. To that end, Overseas Development Institute, WRI, and IGES – in partnership with the Open Climate Network – have conducted the first in-depth examination of Fast Start Finance (FSF), the period from 2010-2012 in which developed nations pledged to deliver US$ 30 billion in climate finance. As of September 2013, countries reported providing $35 billion in public FSF from 2010 through 2012, exceeding their pledge. Just five countries – Germany, Japan, Norway, the United Kingdom and the United States— provided US$ 27 billion of this finance.