Climate change is a relevant risk factor for the banking sector, but the European Commission's plan to lower capital requirements for greener investments is irresponsible in encouraging banks to forego proper risk management.
It would be better for international climate governance if Trump stays out of the Paris Agreement, rather than stays in with a new, weakened deal.
The G20 is just about holding together in difficult times, but the world's leading economies need to make good on their climate promises. Major projects such as China's One Belt One Road initiative and the G20 Compact for Africa must incorporate sustainability criteria, or it will be impossible to meet the Paris goals.
US President Trump has made it clear that he is not happy with the Paris Agreement. This week he will announce whether the US will withdraw from the Agreement altogether. What might that mean for the global fight against climate change? US decarbonisation is already well underway but the EU would need to step up and defend global climate governance.
This event seeked to discuss the potential way forward for the US energy and climate policy, and its implications for both global energy markets and global climate change mitigation efforts.
What will the new US administration mean for the fight against global warming? Climate change is not even mentioned in the ‘‘America First Energy Plan’’, and Simone Tagliapietra fears a reversal of recent positive steps.
What’s at stake: Ever since the 2016 Paris Agreement to reduce emissions was signed, researchers have been looking at the impact that moves towards a low-carbon economy might have on financial markets and financial stability. We review these contributions here.
China, the European Union (EU) and the United States (US) are responsible for the majority of global emissions of greenhouse gases, and produce about half of global GDP. Hence, their climate policies not only determine the success of global efforts to curb future emissions of greenhouse gases, but also affect policy developments in other countries. The aim of this report is to assist policy-makers, climate change negotiators and analysts to understand the domestic constraints and opportunities facing each jurisdiction, and to identify areas of common interest or concern between the three jurisdictions.
Decarbonisation and digitalisation are reshaping the European energy system, which will become more decentralised and interconnected with other sectors. Cities have the opportunity to be the key drivers of decarbonisation, but this will require the implementation of a new bottom-up governance system. This paper outlines a four-step mechanism in order to achieve decarbonisation at city level.
As the European Commission releases its new energy package, “Clean Energy for all Europeans”, our authors argue that cities are the key to success. They propose a new governance mechanism where cities develop and implement ambitious City Climate Plans – with direct monitoring and financial support from the EU.
The new Trump presidency might now signal a U-turn in the United States’ international climate policies.
In order to secure growth and jobs, Europe needs a new growth model built on developing emerging sectors with high value added. But in which sectors can Europe grow, and what economic policies would work?