Tag Archives: Climate change

NRDC: Paris Climate Agreement Explained

Repost from the Natural Resources Defense Council

Paris Climate Agreement Explained

By Susan Casey-Lefkowitz, Director of Programs with Emily Cousins, December 12, 2015
Credit: Shun Kambe

How we’ll deliver on the promise of ambitious climate action.
The global community signed an historic agreement today at the Paris climate talks to tackle the threat of climate change and accelerate the shift to clean energy around the world. This is a momentous breakthrough. Nearly 200 countries have pledged to reduce their climate change pollution, strengthen their climate commitments every five years, protect people living on the front lines of climate impacts, and help developing nations expand their clean energy economies.

Most important, this agreement sets ambitious goals. It calls for holding global temperature rise to 1.5 degrees Celsius, with a first step of keeping us at no more than 2 degrees of warming.

Reaching the 2-degree target is essential to prevent catastrophic climate impacts, but scientists say it still leaves us open to dangerous levels of rising seas, food insecurity, and extreme drought. It would make the Marshall Islands and other island nations uninhabitable and expose countless vulnerable communities to deadly harm. Keeping the temperature rise at no more than 1.5 degrees will sustain these communities and create a brighter, more stable future for our children and grandchildren.

This is an ambitious goal, but the past two weeks in Paris confirm it is achievable.

In Paris, an action agenda emerged out of a groundswell of climate action from cities, regions, businesses, investors, trade unions, and many others. Mayors and governors described what they are already doing to reduce carbon pollution and how they plan to do more. Multinational corporations said they are cutting carbon pollution across their operations. Financial institutions reported that renewable energy is a better investment than fossil fuels. Leaders from developing nations explained that clean energy is helping to generate economic growth and bring people out of poverty. And thousands of people from all over the world stood up for climate action. This groundswell has the backs of our national leaders in implementing ambitious climate policies. This is what climate leadership looks like.

The low-carbon transition is already underway. Now the Paris agreement calls on us to return home, pick up the pace, and go faster into the clean energy future. And it gives us the tools to hold our government leaders accountable.

In China, that means building on the country’s commitment to implement a cap-and-trade program and increase non-fossil-fuel energy sources to 20 percent of total energy by 2030. In India, that means leapfrogging over dirty fossil fuels and using clean, renewable, and efficient energy to power its growth. Meeting the country’s solar mission alone will create 1 million jobs. India has already vowed to increase renewable energy sixfold by 2020 and to set mandatory efficiency standards for buildings by 2017.

The United States can also build on existing progress. All 50 states are on track to implement the Clean Power Plan for limiting carbon pollution from power plants; they need to focus on doing this through energy efficiency and an increase in wind and solar. We can continue to improve fuel efficiency standards and move to a combination of electric vehicles and smarter growth in transportation. Next up, we’ll work on getting existing oil and gas facilities to reduce their methane emissions and on the phase-out of fossil fuel development on federal lands and in federal waters. And U.S. businesses should continue not only to improve their own energy efficiency but to band together to advocate for stronger clean energy and climate policies.

This work won’t be easy. The Paris agreement — and our obligation to future generations — demands that nations transform how we think about electricity, transportation, industry, methane from fracking, HFCs from air conditioning, agriculture, and other contributors to climate change. It also requires helping developing countries face the challenges of poverty alleviation, energy equity, and climate justice. And here in the United States, it entails going up against entrenched fossil fuel interests and those politicians who persist in denying climate change.

These are significant hurdles, but citizens, businesses, and political leaders around the globe have made it clear that we support strong climate action. This momentum will carry us forward. And the Paris climate agreement and action agenda will provide the road map.

Irina Bokova, the director-general of UNESCO, said at an NRDC event last week, “When we speak about climate, we speak about humanity.” Our future is at stake here. For the human community to thrive, we need a stable climate. The Paris agreement and commitments will help ensure that our families, nations, and societies can flourish for generations to come.

400+ investors with more than $24 trillion support Paris climate agreement

Repost from Ceres – Mobilizing Business Leadership for a Sustainable World

Leading Investors and Businesses Back A Strong Paris Climate Agreement

By Christopher N. Fox

The UN climate conference now underway in Paris represents a critical opportunity to limit the risks of climate change and accelerate the shift to clean energy.  That’s why Ceres and leading investors and businesses are in Paris making the economic case for a strong global climate agreement. Together, we are focused on the dual objectives of addressing climate risks by ratcheting down reliance on high carbon resources, on the one hand, while simultaneously seizing the Clean Trillion opportunity tied to clean energy investment and transition, on the other.

Record investor and business support

As the Paris negotiations officially have kicked off, over 400 investors with more than $24 trillion in assets released a statement [see column at right] calling for an ambitious global agreement on climate change.  That’s the largest-ever group of investors calling for strong government action on climate change.  Investors are publicizing their clean energy investments through the Global Investor Coalition on Climate Change’s Low-Carbon Investment Registry, and announcing other actions they are taking on climate change through the new Investor Platform for Climate Actions.

In addition, more than 1,600 companies have signed Ceres’ Climate Declaration; 147 companies have signed the White House Act on Climate Business Pledge; six major U.S. banks released a statement calling for a strong climate deal; and the CEOs of 14 major food companies have launched a high profile climate pledge.  And thousands of businesses worldwide are joining forces with the We Mean Business Coalition in support of climate policy action.

Tackling climate change is a multi-trillion dollar opportunity

Combating climate change requires rapid, large-scale shifting from fossil fuels to clean energy.  This transition to clean energy is a multi-trillion dollar opportunity.  To limit warming to below two degrees Celsius – a key goal of the Paris climate talks – the International Energy Agency estimates the world needs to invest an additional $40 trillion in clean energy by 2050.  That’s slightly more than an additional $1 trillion invested in clean energy – a “Clean Trillion” – per year for the next 35 years.

The Paris climate talks are catalyzing important momentum toward the Clean Trillion goal.  The national climate plans that almost every nation in the world has submitted to the UN can spur $13.5 trillion in investment in energy efficiency and low-carbon technologies between 2015 and 2030, according to a recent IEA analysis.

Much more action needed after Paris

A strong Paris climate agreement will accelerate the transition to clean energy, but much more action will be needed in the years ahead to limit warming to below two degrees Celsius.  In the months after Paris, the most important single step that the U.S. can take to lead on climate change is to implement the EPA Clean Power Plan, the first-ever nationwide limits on carbon pollution from electric power plants.  This US plan for boosting electric sector clean energy transition is a critically important step for the climate and the economy, as recognized by leading voices in the business community — more than 365 companies and investors announced their support for the plan in a July 2015 lettercoordinated by Ceres.

As aptly noted by Letitia Webster, senior director of global sustainability at VF Corporation, a North Carolina-based apparel company whose brands include The North Face, Timberland and Reef, “The Clean Power Plan will enable us to continue to invest in clean energy solutions and further advance our greenhouse gas reduction goals.”

And as Mars, Inc. Global Sustainability Director Kevin Rabinovitch points out, “It’s going to take action from all of us … For businesses like Mars, that means delivering on efficiency and renewable energy; for the EPA and state governors, that means developing and delivering against initiatives like the Clean Power Plan.”

Both VF Corporation and Mars are represented as part of the delegation of business and investor leaders that Ceres is bringing to the Paris climate talks to support strong climate policy action. By backing a strong Paris climate agreement and the EPA Clean Power Plan, leading investors and businesses are making a smart business decision.  They are supporting policies that will expand investment in the clean energy technologies that the world needs to stabilize the climate and promote a sustainable economy and world.

To learn more about Ceres plans for COP21 in Paris, and what actions leading investor and business leaders have been taking on the road through Paris click here.

Repost from Investor Platform for Climate Actions

Global Investor Statement on Climate Change - groupsGLOBAL INVESTOR STATEMENT ON CLIMATE CHANGE

This statement is signed by 404 investors representing more than US $24 trillion in assets.

We, the institutional investors that are signatories to this Statement, are acutely aware of the risks climate change presents to our investments. In addition, we recognise that significant capital will be needed to finance the transition to a low carbon economy and to enable society to adapt to the physical impacts of climate change.

We are particularly concerned that gaps, weaknesses and delays in climate change and clean energy policies will increase the risks to our investments as a result of the physical impacts of climate change, and will increase the likelihood that more radical policy measures will be required to reduce greenhouse gas emissions. In turn, this could jeopardise the investments and retirement savings of millions of citizens.

There is a significant gap between the amount of capital that will be required to finance the transition to a low carbon and climate resilient economy and the amount currently being invested. For example, while current investments in clean energy alone are approximately $250 billion per year, the International Energy Agency has estimated that limiting the increase in global temperature to two degrees Celsius above preindustrial levels requires average additional investments in clean energy of at least $1 trillion per year between now and 2050.

This Statement sets out the contribution that we as investors can make to increasing low carbon and climate resilient investments. It offers practical proposals on how our contribution may be accelerated and increased through appropriate government action.

Stronger political leadership and more ambitious policies are needed in order for us to scale up our investments. We believe that well designed and implemented policies would encourage us to invest significantly more in areas such as renewable energy, energy efficiency, sustainable land use and climate resilient development, thereby benefitting our clients and beneficiaries, and society as a whole.

HOW WE CAN CONTRIBUTE

As institutional investors and consistent with our fiduciary duty to our beneficiaries, we will:

Work with policy makers to support and inform their efforts to develop and implement policy measures that encourage capital deployment at scale to finance the transition to a low carbon economy and encourage investment in climate change adaptation.

Identify and evaluate low carbon investment opportunities that meet our investment criteria and consider investment vehicles that invest in low carbon assets subject to our risk and return objectives.

Develop our capacity to assess the risks and opportunities presented by climate change and climate policy to our investment portfolios, and integrate, where appropriate, this information into our investment decisions.

Work with the companies in which we invest to ensure that they are minimising and disclosing the risks and maximising the opportunities presented by climate change and climate policy.

Continue to report on the actions we have taken and the progress we have made in addressing climate risk and investing in areas such as renewable energy, energy efficiency and climate change adaptation.

SCALING UP INVESTMENT: THE NEED FOR POLICY ACTION

We call on governments to develop an ambitious global agreement on climate change by the end of 2015. This would give investors the confidence to support and accelerate the investments in low carbon technologies, in energy efficiency and in climate change adaptation.

Ultimately, in order to deliver real changes in investment flows, international policy commitments need to be implemented into national laws and regulations. These policies must provide appropriate incentives to invest, be of adequate duration to improve certainty to investors in long-term infrastructure investments and avoid retroactive impact on existing investments. We, therefore, call on governments to:

Provide stable, reliable and economically meaningful carbon pricing that helps redirect investment commensurate with the scale of the climate change challenge.

Strengthen regulatory support for energy efficiency and renewable energy, where this is needed to facilitate deployment.

Support innovation in and deployment of low carbon technologies, including financing clean energy research and development.

Develop plans to phase out subsidies for fossil fuels.

Ensure that national adaptation strategies are structured to deliver investment.

Consider the effect of unintended constraints from financial regulations on investments in low carbon technologies and in climate resilience.


ABOUT UNEP FI – UNEP FI is a global partnership between UNEP and the financial sector. Over 200 institutions, including banks, insurers and fund managers, work with UNEP to understand the impacts of environmental and social considerations on financial performance. Through its Climate Change Advisory Group (CCAG), UNEP FI aims to understand the roles, potentials and needs of the finance sector in addressing climate change, and to advance the integration of climate change factors – both risks and opportunities – into financial decision-making. Visit www.unepfi.org.

ABOUT IIGCC – The Institutional Investors Group on Climate Change (IIGCC) is a forum for collaboration on climate change for investors. IIGCC’s network includes over 90 members, with some of the largest pension funds and asset managers in Europe, representing €7.5trillion in assets. IIGCC’s mission is to provide investors a common voice to encourage public policies, investment practices and corporate behaviour which address long-term risks and opportunities associated with climate change. Visit www.iigcc.org.

ABOUT INCR – The Investor Network on Climate Risk (INCR) is a North Americafocused network of institutional investors dedicated to addressing the financial risks and investment opportunities posed by climate change and other sustainability challenges. INCR currently has more than 100 members representing over $13 trillion in assets. INCR is a project of Ceres, a nonprofit advocate for sustainability leadership that mobilises investors, companies and public interest groups to accelerate and expand the adoption of sustainable business practices and solutions to build a healthy global economy. Visit www.ceres.org.

ABOUT IGCC – IGCC is a collaboration of 52 Australian and New Zealand institutional investors and advisors, managing approximately $1 trillion and focussing on the impact that climate change has on the financial value of investments. The IGCC aims to encourage government policies and investment practices that address the risks and opportunities of climate change, for the ultimate benefit of superannuants and unit holders. Visit www.igcc.org.au.

ABOUT AIGCC – The Asia Investor Group on Climate Change (AIGCC) is an initiative set up by the Association for Sustainable and Responsible Investment in Asia (ASrIA) to create awareness among Asia’s asset owners and financial institutions about the risks and opportunities associated with climate change and low carbon investing. AIGCC provides capacity for investors to share best practice and to collaborate on investment activity, credit analysis, risk management, engagement and policy. With a strong international profile and significant network, including pension, sovereign wealth funds insurance companies and fund managers, AIGCC represents the Asian voice in the evolving global discussions on climate change and the transition to a greener economy. Visit http://aigcc.asria.org/.

ABOUT PRI – The United Nations-supported Principles for Responsible Investment (PRI) Initiative is an international network of investors working together to put the six Principles for Responsible Investment into practice. Its goal is to understand the implications of Environmental, Social and Governance issues (ESG) for investors and support signatories to incorporate these issues into their investment decision making and ownership practices. In implementing the Principles, signatories contribute to the development of a more sustainable global financial system. Visit www.unpri.org.


ACKNOWLEDGMENTS
The sponsoring organisations thank CDP for its support of the statement. CDP is an international, not-for-profit organisation providing the only global system for companies and cities to measure, disclose, manage and share vital environmental information (www.cdp.net).

THIS STATEMENT WAS LAUNCHED IN SEPTEMBER 2014.


SIGNATORIES

GlobalInvesorStatementClimateChange_Signatories2015-11-22Nov_P1
GlobalInvesorStatementClimateChange_Signatories2015-11-22Nov_P2
GlobalInvesorStatementClimateChange_Signatories2015-11-22Nov_P3

 

Paris climate talks: Developed countries must do more than reduce emissions

Repost from The Guardian
[Editor:  An important discussion of “survival emissions” in developing nations vs. “lifestyle emissions” in industrial nations.  – RS]

Paris climate talks: Developed countries must do more than reduce emissions

By Shyam Saran, 23 November 2015 05.35 EST  –  Saran is a former foreign secretary of India. He was India’s chief negotiator on climate change from 2007 to 2010
Preparations for the upcoming COP21 climate summit t Le Bourget, near Paris, France
Preparations for the upcoming COP21 climate summit t Le Bourget, near Paris, France. Photograph: Benoit Tessier/Reuters

We are only days away from the climate change summit in Paris. Several world leaders are likely to be present to applaud a successful outcome, which is virtually guaranteed since the bar has been set so low in terms of effort expected from the major industrialized economies.

Under the UN process which the negotiations have been taking place, countries are required only to present their climate pledges (known as Intended Nationally Determined Contributions, or INDCs, which are voluntary and subject to an international review but with no strict compliance procedure.

It is this pledge and review system which will become the template for future climate change action. Past experience shows that such weak international regimes, which posit only a best endeavour commitment, rarely deliver expected results.

The UN recently reported that aggregating all the INDCs so far, the world would be on an a trajectory of 2.7C, when a 2C rise is already the limit of safety defined by scientists.

What many people fail to realize is that global warming is the consequence of the stock of greenhouse gas emissions, chiefly CO2, which has accumulated in the Earth’s atmosphere as a result of fossil fuel based industrial activity in the industrialized countries of the world.

This is the reason why the UN recognizes the historical responsibility of the developed countries in causing global warming even though current industrial activity in major developing countries such as China and, to a much lesser extent, India is adding incrementally to that stock.

If developed countries do not make significant and absolute reductions in their emissions there will be a progressively smaller carbon space available to accommodate the development needs of developing countries. There is a difference between the emissions of developing countries which are “survival” emissions and those of developed countries which are in the nature of “lifestyle” emissions. They do not belong to the same category and cannot be treated on a par.

To blur this distinction is to accept the argument that because “we got here first, so we get to keep what we have, while those who come later must stay where they are for the sake of the saving the planet from the threat of climate change.” Far from accepting their historical responsibility developed countries are instead trying to shift the burden on to the shoulders of developing countries.

This they have been doing by keeping attention focused on current emissions while ignoring the source of the stock of emissions in the atmosphere. A sustainable and effective climate change regime cannot be built on the basis of such inequity.

A coal-fired power plant near residential property in Badarpur, Delhi, India
Emissions billow from smokestacks at a coal-fired power plant near residential property in Badarpur, Delhi, India. Photograph: Kuni Takahashi / Bloomberg / Getty Images

One often hears the argument that it is all very well to preach equity but given the planetary emergency the world faces from the threat of climate change we must set aside the equity principle in the interests of humanity as a whole. This is a wholly specious and self serving argument. It reflects the sense of entitlement to an affluent lifestyle, based on energy intensive production and consumption, while denying the even modest aspirations of people in developing countries.

In a densely interconnected and globalised world, it will be impossible to maintain islands of prosperity in an ocean of poverty and deprivation. It is not that developing countries are claiming the right to spew as much carbon as possible into the atmosphere without regard to the health of the planet.

As the main victims of climate change– the impacts of which they are already suffering – they have a much bigger stake in dealing with this challenge. They are, in fact, doing much more than most developed countries, to adopt energy frugal methods of growth, conserving energy, promoting renewable power and limiting waste within the limits of their own resources.

They could do much more if they had access to finance, technology and capacity building from developed countries, a commitment which is incorporated in the UN. Success may elude Paris if developed countries continue to evade their responsibility to provide adequate financial resources and transfer appropriate technologies to developing countries to enable them to enhance their own domestic efforts.

Climate negotiations have become less about meeting an elemental challenge to human survival and more about safeguarding narrowly conceived economic self interests of nations. These are negotiations conducted in a competitive frame, where each party gives as little as possible and extracts as much as possible. The inevitable result is a least common denominator result and this is what is expected at Paris.

Imagine if each country came with the intention to contribute as much as it can and take away as little benefit to itself as possible, because we are all faced with an urgent and global challenge. We would then get a maximal outcome – which is what the world requires if it has to escape the catastrophic consequences of climate change. The negotiating dynamic may change dramatically.

Villagers carry illegally scavenged coal from an open-cast coal mine in Dhanbad, Jharkhand, India
Villagers carry illegally scavenged coal from an open-cast coal mine in Dhanbad, Jharkhand, India, trying to earn a few dollars a day. Photograph: Kuni Takahashi/Getty Images

The leaders can capture the imagination of people around the world if they explicitly acknowledge the seriousness of the threat we all confront and commit themselves to a global collaborative effort to deal with it based on the principle of equitable burden sharing.

Countries can then contribute according to their capacities and resource availability and I have no doubt that emerging countries such as India, China or Brazil will be enthusiastic participants in such initiatives. Even if we are unable at this stage to go beyond the INDCs which have already been submitted the adoption of these initiatives may reassure the world that a new and more promising process has been set in motion to deliver a more sustainable future for our common home.

Stanford Students Demand Divestment From Fossil Fuel Industry During Lengthy Sit-In

Repost from KCBS740 / 5KPIX
[Editor:  Interesting news video, but I apologize for the commercial ad.  Perhaps best to go to Fossil Free Stanford’s Latest Blog Updates or their Live Images and Tweets.  Go Stanford students!!  – RS]

Stanford Students Demand Divestment From Fossil Fuel Industry During Lengthy Sit-In

November 20, 2015 12:09 PM


STANFORD (CBS SF) — Stanford University students and supporters were holding a rally Friday culminating a five-day sit-in calling for the college’s divestment from the fossil fuel industry.

More than 100 students have been camping out at the main quad since Monday afternoon outside University President John Hennessy’s office demanding administrators divest from the top 100 oil and gas companies .

The action was organized through Fossil Free Stanford, a student organization that has been working on the effort for nearly three years, organizer Michael Peñuelas said.

The group was inviting the administrators to address any concerns at the 11 a.m. rally, when students will be prepared to accept any charges the university may file against them, according to Peñuelas.

On Thursday night, the university sent the group a notice stating that administrators are considering suspension of their request for divestment from oil and gas companies due to the action, which was a disappoint for Peñuelas.

The notice also stated that if students didn’t leave the quad with their belongings by 5 p.m. Friday the university would review them under its Fundamental Standard, which outlines conduct expected from students, Peñuelas said.

The students have also violated the college’s use of the main quad policy and trespassed in violation of state law since they are blocking an administration building, according to university officials.

The sit-in is surrounding a building housing the university’s president and provost offices, where no staff have shown up since Monday, Peñuelas said.

The students plan to leave the quad at the end of the rally to participate in a Transgender Day of Remembrance scheduled in the afternoon, Peñuelas said.

The university has a Thanksgiving recess scheduled next week.

The group held a meeting with Hennessy on the issue last week and attempted to schedule another one with him for Friday, according to organizer Michael Peñuelas.

Throughout this week, professors have held classes at the quad in support of the group’s cause and teach-ins on environmental issues, Peñuelas said.

About 30 alumni rallied with the students on Thursday calling for divestment and said they will not make contributions to the university unless they follow through with the divestment, Peñuelas said.

Seniors have also pledged to not donate to the senior gift, a fundraiser that helps contribute to The Stanford Fund to assist in university scholarships, academic programs and student organizations , according to Peñuelas.

Last year, the university divested from the coal industry after a petition brought forward by Fossil Free Stanford and recommendations from the Advisory Panel on Investment Responsibility and Licensing.