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31. Trump’s Paris Exit A blow to climate politics, but a boon to regional climate policy?

Author:
Milan Elkerbout
Publication Date:
06-2017
Content Type:
Commentary and Analysis
Institution:
Centre for European Policy Studies (CEPS)
Abstract:
The withdrawal of the United States from the Paris Agreement represents a setback for global climate action. But the damage will be felt more in political and diplomatic terms than in terms of climate policy or reductions in greenhouse gas (GHG) emissions, which depend at least in the near term on domestic climate policies. The election of Donald Trump and the strong Republican majorities in both Houses of Congress that accompanied his election immediately dispelled any hope that the US would implement or maintain ambitious climate policies. Indeed, in the first months of his Presidency, Trump signed an executive order to review (and thus likely roll back) President Obama’s landmark climate policy – the Clean Power Plan. The latter initiative aimed to reduce power-sector emissions by 32% by 2030 through federal legislation. Other US climate policies, such as vehicle standards and methane regulations, are also destined for the axe. Taken collectively, these measures will make it very difficult for the country to meet its Paris pledge of reducing GHG emissions by 26-28% by 2025 compared to 2005, even if another personality occupies the White House by 2021. 1 Improving fundamentals for renewable energy may still allow the US to reach its 2020 target of a 17% reduction in emissions compared to 2005. But the difference between this target and the formal pledge made by the US in Paris is roughly equal to the annual emissions of the entire transport sector in the EU.
Topic:
Climate Change, International Affairs, and Climate Finance
Political Geography:
Global Focus

32. Trump’s gas doctrine: What does it mean for the EU?

Author:
Marco Giuli
Publication Date:
07-2017
Content Type:
Commentary and Analysis
Institution:
European Policy Centre (EPC)
Abstract:
The United States (US) has always been a key player in the European Union’s energy security, as a supporter of its gas supply diversification plans. The Trump administration is underlining the US’ role as a gas exporter. This shift of tone from a strategic to a commercial approach risks furthering divisions and mistrust among European Union (EU) member states, with potential negative effects for the Energy Union.
Topic:
Climate Finance and International Development
Political Geography:
Global Focus

33. Starting the Dialogue on Climate Engineering Governance: A World Commission

Author:
Edward A. Parson
Publication Date:
08-2017
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation (CIGI)
Abstract:
Climate engineering can, if appropriately governed within a coherent overall climate change strategy, reduce risks beyond what mitigation and adaptation can achieve alone, and is probably essential to achieve the Paris Agreement temperature targets. Climate engineering also poses significant new risks, and needs expanded research and scrutiny in climate assessments.
Topic:
International Political Economy and Climate Finance
Political Geography:
Global Focus

34. A Sustainable Ocean Economy, Innovation and Growth: A G20 Initiative

Author:
Andreas R Kraemer
Publication Date:
07-2017
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation (CIGI)
Abstract:
The Group of Twenty should initiate a global ocean governance process and call for dialogues, strategies and regional cooperation to ensure that investment and growth in ocean use become sustainable and reach their full potential. The ocean is the largest and most critical ecosystem on Earth, and potentially the largest provider of food, materials, energy and ecosystem services. However, past and current uses of the ocean continue to be unsustainable, with increasing demand contributing to the ocean’s decline. Better governance, appreciation of the economic value of the ocean and “blue economy” strategies can reduce conflicts among uses, ensure financial sustainability, ecosystem integrity and prosperity, and promote long-term national growth and employment in maritime industries.
Topic:
Climate Finance
Political Geography:
Global Focus

35. Can Canada Step into the Breach? Addressing Climate-related Financial Risk and Growing Green Finance

Author:
Céline Bak
Publication Date:
06-2017
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation (CIGI)
Abstract:
There was no consensus on climate-related financial risk at the Group of Twenty (G20) meeting of central bankers and finance ministers in March 2017, and the final communiqué did not mention climate change or the Paris Agreement. US President Donald Trump has since announced his intention to withdraw from the Paris Agreement; therefore, the phase I report from the Task Force on Climate-related Financial Risk Disclosures may not be welcomed at the G20 summit in July. As a result, G20 finance ministers must assure governance of this agenda through interconnected national high-level expert groups. Canada’s financial institutions including asset owners and asset managers have the capacity to move swiftly to contribute to a platform for international collaboration on climate-related financial risk and green finance opportunities.
Topic:
Climate Finance
Political Geography:
Global Focus

36. The Political Economy of Carbon Pricing Policy Design

Author:
Joseph E. Aldy
Publication Date:
10-2017
Content Type:
Working Paper
Institution:
Belfer Center for Science and International Affairs, Harvard University
Abstract:
This paper examines the choice between—and design of—CO2 cap-and-trade and tax policies through a political-economy lens. It draws from insights in economics and political economy to highlight important public policy principles and policy options in carbon-pricing policy design. The paper illustrates each of these insights with examples from cap-and-trade and tax-policy experiences. Revealed political preferences about carbon-pricing-policy design can, in practice, inform our understanding of how decision-makers weigh various policy principles, as well as policy objectives. The balance of the paper examines the following design choices: establishing and phasing-in policy targets; setting the point of compliance and scope of coverage; addressing uncertainties in emission and cost outcomes under carbon pricing; updating carbon-pricing targets over time; using revenue and other forms of economic value created by carbon pricing; mitigating adverse competitiveness impacts of pricing carbon; accounting for the existing, complex policy landscape in designing carbon pricing; and linking of carbon-pricing programs. The final section concludes with a discussion of policy implications and next steps for policy-relevant scholarship.
Topic:
International Political Economy, Climate Finance, and Global Political Economy
Political Geography:
Global Focus

37. Green Foreign Direct Investment In Developing Countries

Author:
Columbia Centre on Sustainable Investment
Publication Date:
10-2017
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
The message is by now clear: our global economy must be fundamentally reoriented and redeployed in order to achieve the SDGs and the commitments of the Paris Climate Agreement. This requires action by all stakeholders, including non-financial and financial firms, debt and equity investors, government policymakers, and consumers. In terms of the amount of money required, it has been estimated that meeting the SDGs will require $5 to $7 trillion annually, with investment needs for developing countries amounting to roughly $3.3 to $4.5 trillion per year. While a big picture view of and strategic thinking regarding the entire economic ecosystem is necessary to generate such investments, this paper, produced in conjunction with the UN Inquiry into the Design of a Sustainable Financial System, focuses on the actual and potential role of one type of financial flow—FDI—in achieving the transition to a low-carbon, just and sustainable world and, more specifically, FDI flows into developing countries.
Topic:
International Political Economy and Climate Finance
Political Geography:
Global Focus

38. Roadmap to a Northeast Asian Carbon Market

Author:
J. Jackson Ewing
Publication Date:
09-2016
Content Type:
Special Report
Institution:
Asia Society
Abstract:
FACING UP TO CLIMATE CHANGE IS A KEY CHALLENGE OF OUR TIME. We are on pace in 2016 to again record the warmest global temperatures ever measured; a distinction that now appears to be an annual occurrence. Weather is becoming less predictable, storms more intense, and drought and flooding more pervasive. This destroys livelihoods, impedes economic progress, and undermines the sustainable development gains we are working hard to achieve. Slowing down and ultimately reversing climate change requires us to lower our greenhouse gas emissions. And effectively pricing carbon emissions is a vital place to start. Pricing carbon through markets creates incentives, sets clear rules, and encourages regulated organizations to lower emissions in flexible ways that work for them. Like much in the current climate change arena, the main action on carbon markets is happening beneath the global scale. After years of chasing global mechanisms to price and trade carbon emissions credits, the landmark Paris Agreement of December 2015 both recognizes and provides political and policy space for efforts at local, state, and regional levels. The relevance of carbon markets is growing apace; almost doubling in scale since 2012 with forty states and twenty-three cities, regions, and provinces pricing emissions worth some $50 billion.
Topic:
Climate Change, Environment, International Trade and Finance, and Climate Finance
Political Geography:
Asia and Global Focus

39. More Than a Lightbulb: Five Recommendations to Make Modern Energy Access Meaningful for People and Prosperity

Author:
Todd Moss
Publication Date:
04-2016
Content Type:
Special Report
Institution:
Center for Global Development (CGD)
Abstract:
Energy is fundamental to modern life, but 1.3 billion people around the world live without “access to modern electricity.” The current definition of modern energy access—100 kilowatt-hours per person per year—is insufficient and presents an ambition gap with profound implications for human welfare and national economic growth. This report summarizes the energy access problem, the substantial efforts underway to bolster power generation and access in the poorest regions, and highlights concerns about the specific indicators being used to measure progress. It then condenses a set of analytical and conceptual questions the working group grappled with, such as why and how to better measure energy usage and the multiple options that should be considered. The report concludes with five recommendations for the United Nations, International Energy Agency, World Bank, national governments, major donors, and other relevant organizations.
Topic:
Climate Change, Environment, Climate Finance, and International Development
Political Geography:
Global Focus

40. 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 (CIGI)
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