Linking in a world of significant policy uncertainty

Linking in a world of significant policy uncertainty

And then there were three. As of January 1st, 2018, Ontario has joined California and Québec, linking their respective carbon markets. In a post-Paris world of bottom-up climate policy, linking of climate policy matters. It provides a concrete step forward on the Paris Declaration on Carbon Pricing in the Americas. It shows that, while the U.S. federal government is dismantling much-needed climate protections, states, together with Canadian provinces, are moving forward. Linking, if done right, can be a powerful enabler of greater ambition. It also raises important questions.

Sustainability performance: How are France’s largest companies addressing climate risk?

Sustainability performance: How are France’s largest companies addressing climate risk?

An exclusive report from the EcoAct Group shows more CAC40 companies are adopting an internal carbon price. Two years after COP21, global greenhouse gas emissions are again on the rise in 2017. The challenge now is to move from statements of alignment with the Paris Agreement to real action towards decarbonizing our economy. How are French companies approaching this issue? To explore the answer this question, the EcoAct Group conducted research on the climate performance of CAC 40 companies and published the findings in an exclusive report.  

Climate Change Is an Overwhelming Problem. Here Are 4 Things Executives Can Do Today

Climate Change Is an Overwhelming Problem. Here Are 4 Things Executives Can Do Today

Today’s climate challenge is so far beyond our collective experience that it demands a radically different kind of engagement from senior leadership teams in the private sector. The threats that climate change poses to business, markets, and, indeed, capitalism are peculiarly hard for most top teams to spot, let alone act on.

How Indian companies use carbon pricing as a planning tool

How Indian companies use carbon pricing as a planning tool

Last month, at the fourth annual Climate Business Forum, hosted in New Delhi by the International Finance Corporation (IFC), part of the World Bank Group, there was a buzz in the air about business opportunities in clean solutions, as Indian government ministers, leading companies and investors presented their plans to scale up solar, green buildings and distributed energy storage using disruptive business models and innovative financing.

Three reasons why maritime transport must act on climate change

Three reasons why maritime transport must act on climate change

Several key global players are now calling on the maritime sector to challenge the status quo and limit its climate impact. From our perspective, we see at least three major reasons that can explain why emissions from maritime transport are becoming a global priority.

When banks come on board: the role of the finance industry in decarbonizing the shipping sector

When banks come on board: the role of the finance industry in decarbonizing the shipping sector

On November 7, 2017, the Carbon Pricing Leadership Coalition (CPLC) launched an Executive Briefing on internal carbon pricing for ship-financing banks at Citibank’s offices in London. This knowledge product was developed with kind support from Carbon War Room. It is meant to generate discussion at the highest levels of ship finance around how to start preparing for upcoming GHG emissions regulations. Hosted by Michael Parker, Head of Shipping at Citibank and Member of the Board of Directors of the Global Maritime Forum, the launch event gathered about 20-30 directors from leading ship-financing financial institutions.

IMO climate strategy must be in line with 1.5°C temperature rise limit

IMO climate strategy must be in line with 1.5°C temperature rise limit

Adopting IMO’s initial strategy is critical, but it must be an ambitious one, writes Marshall Islands president Hilda C Heine from the Bonn climate talks

Carbon Pricing Takes Off

Carbon Pricing Takes Off

Limiting the increase in global average temperature to within 2° Celsius of preindustrial levels requires dramatic cuts in carbon dioxide emissions. One of the best ways to do that is to shift the social and economic costs of greenhouse gases from the public to the polluter.

Carbon Pricing: A Case for Transformative Climate Action

Carbon Pricing: A Case for Transformative Climate Action

Carbon pricing – in the form of a carbon tax or an emissions trading system – has become a tool increasingly used by governments to address climate change. There’s also growing momentum in the private sector. The latest C2ES report, “The Business of Pricing Carbon,” finds that companies across sectors and geographies are increasingly adopting internal carbon pricing as one tool to prepare for the business-related physical and transition risks of climate change and take advantage of the opportunities in a low-carbon future. As an indicator of this trend rising on the corporate agenda, as of 2017, almost 1,400 companies disclosed to the CDP that they are currently using an internal carbon price or plan to do so in the following two years.

Enhancing carbon emissions mitigation through behavioral insights: some Thoughts from the Carbon Forum North America 2017

Enhancing carbon emissions mitigation through behavioral insights: some Thoughts from the Carbon Forum North America 2017

When on Wednesday evening I left the Carbon Forum North America (CFNA) I felt a rare sense of hope and intellectual excitement. It was not only the inspiring commitment of many political and business leaders to meaningfully tackle carbon emissions or the shared agreement displayed in many panels on the way forward.  There was a belief that despite the results achieved in many businesses, national and subnational realities, there is a lot more that can be done if we use the right key(s). The type of keys I am looking at are behavioral ones.

From Commitment to Stewardship: The Case for Garanti Bank on Carbon Pricing

From Commitment to Stewardship: The Case for Garanti Bank on Carbon Pricing

The momentum for climate action is strengthening across the financial sector, with pension funds, banks and asset managers embedding climate change impacts into mainstream finance activities. On the one hand, the financial industry is reacting to carbon pricing regulations, which exposes investments in fossil-fuel companies and other carbon-intensive industries to previously unforeseen costs. On the other hand, the recognition that physical climate change impacts are becoming a systemic risk across the broader economy makes powerful stakeholder groups, risk departments and valuation teams more attentive to the link between a changing climate and asset value. Finally, the need to disclose climate change-related risks by corporates is also being advocated or required by regulators, encouraged by the Financial Stability Board’s Task Force on Climate-related Financial Disclosures. Given the Turkish government’s considerations of introducing national carbon pricing legislation at some point, the case for pricing exposure to carbon for an institution like Garanti Bank is apparent.

The Pacific Alliance and climate change

The Pacific Alliance and climate change

The Latin America and the Caribbean region is moving quickly to introduce market incentives as a component of their climate change mitigation policy, for example, 24 countries have identified fiscal measures as a tool to implement their Nationally Determined Contributions (NDCs). However, without a doubt, the Pacific Alliance countries are leading the region. 

Success of Paris Agreement depends on broad-based engagement

Success of Paris Agreement depends on broad-based engagement

Mexico City, Mexico, 18 October 2017 – Achieving the goals of the Paris Climate Change Agreement and true sustainable development will take broad-based engagement, especially by the private sector to drive innovation and investment, participants at the opening of Latin American and Caribbean Carbon Forum (LACCF) in Mexico City were told.

Landscape of Carbon Prices in 2017

Landscape of Carbon Prices in 2017

A world map, a detailed table and a graph provide comprehensive information on the jurisdictions that have implemented or plan to implement explicit carbon pricing policies, the type of instrument chosen, the sectors covered, the pricing levels and the use of revenues.

Companies Set Their Own Carbon Price to Guide Decisions

Companies Set Their Own Carbon Price to Guide Decisions

Business leaders know that climate change impacts are here and on the rise. They also know there are significant economic opportunities in the transition to a low-carbon economy. But factoring these risks – and opportunities – into corporate decision-making isn’t always easy.

Paris Success Requires Investment, Worthy Projects

Paris Success Requires Investment, Worthy Projects

Success in addressing climate change will require a shift in investment toward clean infrastructure and technologies. Countries in adopting the Paris Climate Change Agreement recognized this, and now look more and more to the private sector and non-state actors for engagement. With less than three weeks to go before the start of this year’s Latin American and Caribbean Carbon Forum (LACCF 2017), UNFCCC Newsroom sat with James Grabert, Director of the Sustainable Development Mechanisms Programme and lead officer of the Marrakech Partnership for Global Climate Action at UN Climate Change, to discuss this year’s event, its importance, and its place in the international response to climate change.