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91. The End of the Beginning: Paris COP 2015

Author:
David Runnalls
Publication Date:
11-2015
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
The Paris Conference of the Parties (COP) 2015 is designed to produce the next round of climate change action. There are reasons to believe that the chances for success at the multilateral level are better now that they were before, but even under the most optimistic scenarios, Paris will not be the end of the negotiations. The Paris summit will be crucial to maintaining the momentum that has been building in the private sector and civil society on the issue of climate change. COP 21 has generated an enormous amount of public interest. Civil society actions both before and during the Paris meeting promise to be on a grand scale. In addition, COP21 has excited action from a number of other levels of government not normally seen at these events. Leaders of the IMF, the World Bank and the OECD have all stated that climate change is the principal economic issue facing the world this century. There is a growing realization among the world's economic decision makers that the shift to a low-carbon economy is not only a necessity, but also may be less costly than we believe. The need to identify both public and private financing solutions is the greatest hurdle facing the Paris COP. CIGI's climate change research is tackling the issue of financing sustainable development, in addition to how agreements can be reached by smaller countries, how to address the problems of the delayed benefits from mitigation, ways that China can exercise leadership in this arena, and how the world's financial institutions can help mobilize climate finance from the private sector.
Topic:
Civil Society, Climate Change, Energy Policy, Environment, International Monetary Fund, World Bank, Regulation, Financial Markets, and Climate Finance
Political Geography:
Global Focus

92. Central Banks Can and Should Do Their Part in Funding Sustainability

Author:
Andrew Sheng
Publication Date:
06-2015
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
Central banks, when purchasing financial assets, should consider selecting assets that will promote sustainability, including climate change mitigation and adaptation. During the 2008 financial crisis, central banks deployed unconventional means to rescue failing banks and insulate economies from depression. Their asset purchases have had strong social impacts, but traditionally, central banks have not explicitly factored social objectives into their decisions or evaluated their impacts beyond the narrow monetary domain. Social impact investing is consistent with a central bank’s mandate to maintain price stability, but those not yet ready to move in this direction should at least incentivize bankers and asset managers to invest in, or lend to, climate mitigation activities and low-emission growth, as well as support a financial transaction tax.
Topic:
Climate Change, Energy Policy, Environment, Markets, Monetary Policy, and Financial Markets
Political Geography:
Global Focus

93. Climate Technology Partnerships: Form, Function and Impact

Author:
Arunabha Ghosh, Anupama VijayKumar, and Sudatta Ray
Publication Date:
10-2015
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
With halting progress in climate negotiations, there are growing calls for partnerships among self-selected pools of countries, in the expectation that they would facilitate consensus (among both developed and developing countries) and result in faster decision making. In critically examining such a claim, this paper asks: what kinds of partnerships could facilitate coordinated climate-related action across several countries? By focusing largely on technology partnerships (a key demand in climate negotiations), it examines characteristics of successful partnerships and the conditions under which they are created and sustained. While the motivations of existing partnerships are diverse, their functional scope has remained limited. A review of more than 30 initiatives reveals that very few had been designed to extend beyond sharing knowledge and some preliminary research and development activities. Even fewer had enlarged functional focus on actual transfer of equipment, joint production or extensive deployment mandates. The paper intensively analyzes the purpose, membership and governance of four partnerships. Drawing on their lessons, the paper identifies critical features — appropriate financing, leveraging capacity, flexible intellectual property rules and coordination across several institutions — which could become the foundation of new partnerships to deliver measurable action and possibly increase trust among negotiating parties.
Topic:
Climate Change, Development, Energy Policy, Science and Technology, Intellectual Property/Copyright, and Governance
Political Geography:
Global Focus

94. The 2015 Survey of Progress in International Economic Governance

Author:
Domenico Lombardi and Kelsey Shanty
Publication Date:
11-2015
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation
Abstract:
The annual CIGI Survey of Progress in International Economic Governance assesses progress in five areas of international economic governance: macroeconomic and financial cooperation; cooperation on financial regulation; cooperation on development; cooperation on trade; and cooperation on climate change. In this year’s survey, 31 CIGI experts conclude that international economic arrangements continue to show a level of “status quo,” averaging a score of 50% across all five areas. The 2015 survey indicates a slight improvement to the result of last year’s survey, which suggested a minimal regression overall. The experts’ assessment of progress was most promising in the area of climate change cooperation, with an average score of 57%, whereas the least promising area was macroeconomic and financial cooperation, with a score of 44%, indicating minimal regression. The remaining three areas polled all fell within the “status quo” range, with trade at 46%, development at 48% and international cooperation on financial regulation at 53%. Interestingly, in the area of cooperation on development, CIGI’s experts provided a relatively mixed assessment. Responses varied based on experts’ perception of the effectiveness of current rhetoric, from 70% (indicating some progress) to 10% (suggesting major regression). Compared to last year, climate change governance has made the greatest improvement, but the remaining three areas (with the exception of development, which was not included in the 2014 survey) have all, on average, regressed further or remained stagnant. This trend is cause for concern.
Topic:
Climate Change, Development, International Political Economy, International Trade and Finance, and Financial Crisis
Political Geography:
Global Focus

95. The Digital Trade Imbalance and Its Implications for Internet Governance

Author:
Susan Ariel Aaronson
Publication Date:
02-2015
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
Today, information is currency; it facilitates productivity, exchange, technology and trade. Information is also the building block of the digital economy (an economy based on digital technologies — products and services that facilitate the creation, storage, analysis and sharing of data and information). Although many countries are gaining expertise and market share, one country, the United States, dominates both the global digital economy and digital trade (commerce in products and services delivered via the Internet). The United States is also the key force behind efforts to develop a system of trade rules to govern cross-border information flows.
Topic:
Economics, Science and Technology, Mass Media, and Digital Economy
Political Geography:
Global Focus