Since the 2015 adoption of the UN’s Sustainable Development Goals and the success of the Paris Agreement under the UN Framework Convention on Climate Change (UNFCCC), it has become clear that “business as usual” is no longer an option for neither industrialized countries nor the developing world. Both the Agenda 2030 and the Paris Agreement (PA) entail substantial consequences for the world financial system. Mobilizing the massive investment required for climate resilient, low-carbon infrastructure and development, transforming the world economy and hedging the climate-related risk to the financial system form formidable challenges to the public and the private sector alike.
In December 2015 the Paris Agreement was adopted, in November 2016 it will come into force. A transformation of the energy-, transport- and agricultural sector is needed, to be able to implement the goals agreed upon and to limit global warming to 1.5°C/well below 2°C.
The Adaptation Fund Board successfully concluded its 28th Meeting in Bonn, Germany from 4–7 October 2016 only a month before the twenty-second session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP22) which will be held in Marrakech, Morocco. The meeting encouraged reflections on how to fully enhance dissemination of knowledge and experiences generated by the Fund in order to leverage the understanding about its relevance and contributions to adaptation efforts of nations and communities worldwide facing the adverse effects of climate change.
This is the Climate Finance Advisory Service (CFAS) Daily Briefing. Produced at key meetings and negotiations by the CFAS expert team, the Daily Briefings try to provide a concise, informative update on key discussions that have taken place at each day of the meeting and give an overview of substantive points of action or progress.
In August 2016, the Adaptation Fund has recorded its second largest number of proposals in its history. A number of 31 concept and project proposals have been received to be considered by the Adaptation Fund Board at its 28th Meeting scheduled in October 2016 in Bonn, Germany. This request amounts to US$ 208.6 million from various types of accredited implementing entities wishing to access the funds. It is obvious that the Fund provides an important function to assist developing countries in their efforts towards concrete local measures against climate impacts. Developed through a civil society lens, this briefing outlines selected talking points on agenda items that are to be discussed at the 28th meeting of the Adaptation Fund Board, and suggests some key recommendations as well.
After reaching full operationalization in 2015, the Green Climate Fund (GCF) is gradually moving from a design phase into the actual implementation of projects and programmes to address the adverse effects of climate change in developing countries. To reach its ultimate objective of achieving a paradigm shift towards low-carbon and climate-resilient development, these projects and programmes need to be imbedded in national development strategies and require the involvement of all national actors to be truly country-owned.
The Federation of German Industries (BDI), Germanwatch and the Mercator Research Institute on Global Commons and Climate Change (MCC) are gathering forces to urge the G20 countries to introduce carbon pricing as a means to achieve the climate goals set forth in the Paris Agreement. The unusual alliance between an industry association, an environmental organization and a research institute seeks to drive ambitious climate protection, create more predictability for planning, promote fair competition and secure the necessary investments.
The report, “Brown to Green: Assessing the G20 transition to a low-carbon economy” has been produced by Climate Transparency, and written by a range of international experts and was launched at a press conference in Beijing. With climate change high on this year’s G20 agenda, along with green finance, the assessment looks at a range of indicators on climate action, including investment attractiveness, investment in renewable energy, climate policy, the carbon intensity of both the energy and electricity sectors of the G20 economies, of their fossil fuel subsidies and their contributions to climate finance.
The G20 needs to make more effort to move to a green, low-carbon economy, especially in the areas of coal power expansion and climate policy, but is beginning to head in the right direction. This is the key result of a comprehensive assessment of G20 climate action, released in Beijing today ahead of the G20 summit in China this weekend. The report, “Brown to Green: Assessing the G20 transition to a low-carbon economy” has been produced by Climate Transparency, and written by a range of international experts and was launched at a press conference in Beijing.
This background paper explores the potential relevance within a pluralistic society of the important encyclical Laudato Si’ issued by Pope Francis in June 2015. It considers whether the encyclical documents a reflected faith that accepts the primacy of science in secular knowledge as well as the primacy of democratically elected governments, human dignity, and human rights in the political sphere. Laudato Si’ presents a paradigm shift from the image of the dominion of mankind over the rest of creation to universal fraternity with even weak and marginalised people as well as fellow beings threatened with mass extinction.