SC IENC E AND PO L IC Y Re gional T r aining on Climate F inanc - - PowerPoint PPT Presentation
MODUL E 1 C L IMAT E C HANG E SC IENC E AND PO L IC Y Re gional T r aining on Climate F inanc e in Southe ast Asian c ountr ie s 2 OUT L I NE 1) Clima te Cha ng e sc ie nc e a nd the 2C T a rg e t 2) I nte rna tio na l
Re gional T r aining on Climate F inanc e in Southe ast Asian c ountr ie s
MODUL E 1
2
Se c tio n 1
I t a ll sta rts with
1) Sola r Ra dia tion & 2) T he Gre e nhouse E ffe c t
he E a rth’ s a tmo sphe re is c o mprise d o f se ve ra l g a se s, e spe c ia lly nitro g e n (N2),
99.8% o f the atmo sphe ric g ase s.
he a tmo sphe re a lso inc lude s sma ll a mo unts
2O),
Carb o n dio xide (CO 2), Me thane (CH
4), Nitro us
Chlo ro fluo ro c arb o ns (CF Cs)) tha t a b so rb a nd e mit
ra dia tio n within the the rma l infra re d ra ng e
US EPA - "The Greenhouse Effect" in: "Introduction," in: US EPA (December 2012), Climate Change Indicators in the United States, 2nd edition, Washington, DC, USA: US EPA, http://www.epa.gov/climatechange/science/indicators/download.html, p.3. EPA 430-R-12-004.
4
http:/ / www.c lima te -c ha ng e -kno wle dg e .o rg / uplo a ds/ c _c yc le _3_293.png http:/ / www.e srl.no a a .g o v/ g md/ o utre a c h/ iso to pe s/
5
he na tura l c a rb o n c yc le a c hie ve s a sta te o f dyna mic b a la nc e , i.e . ab so rb ing and e mitting an e q ual amo unt o ve r time .
a re disrupting this b a la nc e , a nd a tmo sphe ric c a rb o n c o nc e ntra tio ns a re ste a dily inc re a sing .
re le a se o f o ve r 30 Gig a T
(o r ~9 Gt o f Ca rb o n) e ve ry ye a r.
ro m: I PCC WGI F
http:/ / www.e srl.no a a .g o v/ g md/ o utre a c h/ iso to pe s/
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AT MOSPHE RIC CO 2 CONCE NT RAT IONS
"Ma una L
Own wo rk. Da ta fro m Dr. Pie te r T a ns, NOAA/ E SRL a nd Dr. Ra lph K e e ling , Sc ripps Institutio n o f Oc e a no g ra phy. L ic e nse d unde r CC BY-SA 4.0 via Wikime dia Co mmo ns - https:/ / c o mmo ns.wikime dia .o rg / wiki/ F ile :Ma una _L
ile :Ma una _L
O2_mo nthly_me a n_c o nc e ntra tio n.svg
F ro m the sta rt o f the I ndustria l Re vo lutio n (1760) to no w, a tmo sphe ric CO 2 c o nc e ntra tio ns inc re a se d fro m 280 ppm to 400 ppm.
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HUMAN CAUSE S OF
By Ma k T ho rpe @ https:/ / c o mmo ns.wikime dia .o rg / wiki/ F ile :Glo b a l_Ca rb o n_E missio ns.svg Herzog, Timothy (July 2009), World Greenhouse Gas Emissions in 2005. WRI Working Paper, Washington, DC, USA: World Resources Institute (WRI), http://www.wri.org/publication/navigating-the-numbers, p.2.
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MORE GRE E NHOUSEGAS ME ANS MORE GRE E NHOUSE E F F E CT
Ba se d o n the Ha dle y Ce ntre
Ha dCM3 c lima te mo de l a nd the I S92a ("busine ss as usual")
pr
age c hange of 3.0°C is pre dic te d
fo r g lo b a l surfa c e te mpe ra ture s.
T
his mo de l is to wa rds the lo w e nd o f the I nte rg o ve rnme nta l Pa ne l o n Clima te Cha ng e 's 1.4-5.8°C pre dic te d c lima te c ha ng e fro m 1990 to 2100
By Ro b e rt A. Ro hde @ https:/ / c o mmo ns.wikime dia .o rg / wiki/ F ile :Glo b a l_Wa rming _Pre dic tio ns_Ma p.jpg
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"Glo b a l T e mpe ra ture Ano ma ly" b y NASA Go dda rd Institute fo r Spa c e Studie s - http:/ / da ta .g iss.na sa .g o v/ g iste mp/ g ra phs/ . L ic e nse d unde r Pub lic Do ma in via Wikime dia Co mmo ns - https:/ / c o mmo ns.wikime dia .o rg / wiki/ F ile :Glo b a l_T e mpe ra ture _Ano ma ly.svg # / me dia / F ile :Glo b a l_T e mpe ra ture _Ano ma ly.svg
Global T e mpe r atur e Change
NOAA (July 2010), State of the Climate in 2009, as appearing in the July 2010 issue (Vol. 91) of the Bulletin of the American Meteorological Society (BAMS). Supplemental and Summary Materials: Report at a Glance: Highlights, US National Oceanic and Atmospheric Administration (NOAA): National Climatic Data Center, http://www.ncdc.noaa.gov/bams-state-of-the-climate/2009.php, p.5.
10
State of the Climate in 2009: Supplemental and Summary Materials: Report at a Glance: Highlights, US National Oceanic and Atmospheric Administration: National Climatic Data Center, http://www.ncdc.noaa.gov/bams-state-of-the-climate/2009.php, page 2.
11
State of the Climate in 2009: Supplemental and Summary Materials: Report at a Glance: Highlights, US National Oceanic and Atmospheric Administration: National Climatic Data Center, http://www.ncdc.noaa.gov/bams-state-of-the-climate/2009.php, page 2.
Go ve rnme nts ha ve a g re e d to limit CO 2 e missio ns to ha lt
c lima tic wa rming to a ma ximum o f 2°C.
But will this b e a c hie ve d, a nd will this b e e no ug h? T
he a nswe rs a re no t c e rta in, b ut the sc ie ntific sig na ls a re tha t we a re still mo ving e ve r c lo se r to a c ritic a l tipping po int.
Ma jo r Co nc e rns inc lude :
T
he 2°C ma ximum is a lre a dy to o muc h.
Curre nt tre nds, unle ss imme dia te ly c ha ng e d, will ta ke us we ll pa st the
2°C ma ximum .
T
he re q uire d a c tio ns to me e t this ta rg e t ha ve ye t to b e e na c te d.
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Curre ntly a tmo sphe ric CO 2
c o nc e ntra tio ns a re a t 400 ppm a nd
inc r e asing at ~3 ppm/ ye ar.
T
he wa rming e ffe c ts o f c a rb o n dio xide e missio ns pe rsist in the a tmo sphe re fo r ~1,000 ye a rs.
2°C = 450 ppm we a re no t so sure , a
50/ 50 c ha nc e & a t c urre nt ra te s we wo uld re a c h this b y ~2030
T
he mo st string e nt c a lls sug g e st tha t we ha ve a lre a dy pa sse d a sa fe o pe ra ting limit, a nd sho uld a im to de c re a se to 350 ppm a nd a 1.5°C wa rming
NOAA Geophysical Fluid Dynamics Laboratory (GFDL) https:/ / e n.wikipe dia .o rg / wiki/ E ffe c ts_o f_g lo b a l_wa rming # / me dia / F ile :Pro je c te d_c ha ng e _in_a nnu a l_a ve ra g e _pre c ipita tio n_fo r_the _21st_c e ntury,_b a se d_o n_the _SRE S_A1B_e missio ns_sc e na rio ,_a n d_simula te d_b y_the _GF DL _CM2.1_mo de l.png
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T
he impa c ts o f c lima te c ha ng e inc lude inc re a se d te mpe ra ture s, inc re a se s a nd de c re a se s in pre c ipita tio n, se a le ve l rise , inte nsific a tio n o f e xtre me we a the r e ve nts, e tc .
T
he se impa c ts re sult in nume ro us g e o g ra phic a lly spe c ific risks, suc h a s flo o ding , re duc tio ns in c ro p pro duc tivity, sho rta g e s in fre sh wa te r supply, se a inunda tio n, e tc .
T
he mo re vulne ra b le c o mmunitie s a re , the mo re like ly it is tha t the se risks will re sult in e xtre me disa ste rs.
15
MI T I GAT I ON OF CL I MAT E CHANGE
T
a nthro po g e nic Ca rb o n e missio ns must b e limite d to 790 GtC
F
ro m 1870 to 2011, huma n a c tivitie s ha ve le d to the re le a se
T
he re is o nly a 275 GtC Budg e t re ma ining if we a re to limit wa rming to b e lo w 2ºC
At the c urre nt ra te , we will ha ve spe nt the re ma ining
Ca rb o n Budg e t b y 2050
16
While AR5 WGI
I stre sse s the impo rta nc e o f ta king stra te g ic a da pta tio n me a sure s to re duc e the risks pe o ple will fa c e fro m c lima te c ha ng e , WGI I I stre sse s the impo rta nc e a nd va lue o f c o nc e rte d mitig a tio n e ffo rts.
Amb itio us Mitig a tio n e ffo rts wo uld le a d to E
c o no mic g ro wth re duc e d b y ~ 0.06%
T
he e stima te d c o sts do no t a c c o unt fo r the b e ne fits o f re duc e d c lima te c ha ng e
While , unmitig a te d c lima te c ha ng e wo uld c re a te inc re a sing
risks to e c o no mic g ro wth a nd po te ntia lly c re a te fa r mo re ne g a tive impa c ts o n g ro wth a nd de ve lo pme nt.
17
Mo re e ffic ie nt use o f e ne rg y Gre a te r use o f lo w-c a rb o n a nd no -c a rb o n e ne rg y Ma ny o f the se te c hno lo g ie s e xist to da y I
mpro ve d c a rb o n sinks
Re duc e d de fo re sta tio n a nd impro ve d fo re st
ma na g e me nt a nd pla nting o f ne w fo re sts
Bio -e ne rg y with c a rb o n c a pture a nd sto ra g e L
ife style a nd b e ha vio ura l c ha ng e s
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Se c tio n 2
1988 – T
he I nte rg o ve rnme nta l Pa ne l o n Clima te Cha ng e (I PCC) is e sta b lishe d
1990 – T
he 1st I PCC Asse ssme nt Re po rt is la unc he d
1992 – T
he Unite d Na tio ns F ra me wo rk Co nve ntio n
CCC) is ra tifie d b y 154 na tio ns
With the o b je c tive is to "sta b ilize g re e nho use g a s
c o nc e ntra tio ns in the a tmo sphe re a t a le ve l tha t wo uld pre ve nt d a ng e ro us a nthro po g e nic inte rfe re nc e with the c lima te syste m“.UNF
CCC Artic le 2
1994 – UNF
CCC e nte rs into fo rc e
1995 – T
he 2nd I PCC Asse ssme nt Re po rt is la unc he d
1997 – K
yo to Pro to c o l is a do pte d a t the 3rd Co nfe re nc e o f Pa rtie s (COP)
T
his inc lud e s le g a lly b ind ing e missio ns re d uc tio n ta rg e ts fo r d e ve lo pe d c o untrie s.
F
irst Co mmitme nt Pe rio d – 2008-2012
Se c o nd Co mmitme nt Pe rio d – 2012-2020 K
yo to Pro to c o l a lso e sta b lishe s fle xib ility me c ha nisms inc lud ing : Inte rna tio na l E missio ns T ra d ing (IE
T
), the Cle a n De ve lo pme nt Me c ha nism (CDM), a nd Jo int Imple me nta tio n (JI)
2001 – T
he 3rd I PCC Asse ssme nt Re po rt is la unc he d
2005 – At COP 11, the K
yo to Pro to c o l e nte rs into fo rc e & the Re duc ing e missio ns fro m de fo re statio n and fo re st de g radatio n (RE
DD) me c ha nism is
intro duc e d
2007 – T
he 4th I PCC Asse ssme nt Re po rt is la unc he d
2007 – COP 13 a do pts the Ba li Ro a d Ma p to wa rds
fina lizing a b inding a g re e me nt a t COP 15
T
he Ba li Ac tio n Pla n stre ng the ns e ffo rts fo r b o th Mitig a tio n a nd Ad a pta tio n a mo ng b o th d e ve lo pe d a nd d e ve lo ping c o untrie s with the la unc h o f: the Ada pta tion F
und, the
Na tio na lly Appro pria te Mitig a tio n Ac tio n (NAMA) pro c e ss, a nd the Na tio na l Ad a pta tio n Pro g ra mme o f Ac tio ns (NAPA) pro c e ss
2009 – COP 15 is no t a b le to a c hie ve a ne w b inding
a g re e me nt, a nd inste a d pro duc e s the no n-b inding Co pe nha g e n Ac c o rd
2010 – COP 16 pro duc e s the Ca nc un Ag re e me nts in
whic h pa rtie s a g re e limit future g lo b a l wa rming b e lo w the 2°C tar
ge t & to e sta b lish the Gr e e n Climate F und
2014 – T
he 5th I PCC Asse ssme nt Re po rt is la unc he d
2015 – COP 21 a do pts the Pa ris Ag re e me nt (b y 195
me mb e r sta te s) with c o untrie s ma king Na tio na lly De te rmine d Co ntrib utio ns (NDCs) to GHG re duc tio ns
20
21
http:/ / the c le a nre vo lutio n.o rg / ne ws-a nd-e ve nts/ ne ws/ info g ra phic -unde rsta nding -the -unfc c c -e g o tia tio ns
(COPs 1-12)
One o f the first e ffo rts unde r the UNF
CCC wa s to e sta b lish Na tio na l Gre e nho use Ga s I nve nto rie s to tra c k e missio ns a nd re mo va ls.
Disc ussio ns a t COP 1 a nd 2 le d c o untrie s to a g re e tha t sta b ilizing a t 1990 le ve ls wa s no t
e no ug h, a nd furthe r re duc tio ns b e lo w 1990 le ve ls we re re q uire d.
COP 3 a nd the K
yo to Pro to c o l (1997) pro vide s the first le g a lly b inding e missio n re duc tio n ta rg e ts fo r de ve lo pe d c o untrie s (i.e . Anne x 1 c o untrie s)
COP 7 a nd the Ma rra ke c h Ac c o rds (2001) la ys o ut the rule s fo r me e ting the ta rg e ts se t o ut
in the K yo to Pro to c o l, suc h a s o pe ra tio na l rule s o n Ca rb o n T ra ding a nd CDM a s we ll a s the c o mplia nc e re g ime
COP 15 (2005), K
yo to Pro to c o l e nte rs into fo rc e a nd the pa rtie s a g re e to e xte nd the pro to c o l b e yo nd 2012 with the a im fo r de e pe r e missio n c uts COP me e ting s a lso no w inc lude the Me e ting o f Pa rtie s to the K
yo to Pro to c o l, a nd the K yo to
COP 16 (2006) re c e ive s c ritic ism fo r the disc o nne c t b e twe e n the po litic a l pro c e ss a nd the
sc ie ntific impe ra tive , b ut it a lso a c hie ve s stro ng impro ve me nts fo r suppo rting de ve lo ping c o untrie s, CDM a nd a five -ye a r pla n o f wo rk o n a da pta tio n
22
COP 13 b e g a n ne g o tia tio ns o n the suc c e sso r to the K
yo to Pro to c o l, a nd se t o ut to a g re e o n a ro a d-ma p, time ta b le a nd c o nc re te ste ps fo r future ne g o tia tio ns to wa rds re a c hing a n a g re e me nt in 2009
T
he Ba li Ro a d Ma p se t o ut a two ye a r ne g o tia ting pro c e ss a ime d to wa rds fina lizing a n a g re e me nt in Co pe nha g e n a t COP 15 – tha t wo uld stre ng the n a n a ppro a c h fo r c o o pe ra tive a c tio ns a nd inc lude a mple o ppo rtunitie s fo r fe e db a c k/ inputs fro m pa rtie s.
T
he Ba li Ro a d Ma p a lso de fine d a se t o f b uilding b lo c ks fo r the ne w a g re e me nt: c utting e missio ns, mitig a tio n, fo re sts, a da pta tio n, te c hno lo g y de ve lo pme nt a nd tra nsfe r, a nd fina nc e .
Ne ithe r COP 15 (in Co pe nha g e n) o r COP 16 (in Ca nc un) we re a b le to re a lize this ne w
a g re e me nt fo r a suc c e sso r to the K yo to Pro to c o l, a nd fro m COP 17 “T he Durb a n Pla tfo rm” b e g a n a ne w ro und o f ne g o tia tio ns to wa rds a ne w a g re e me nt fina lly re a lise d a t COP 21 (in Pa ris, 2015)
Ho we ve r, the Ba li Ro a d Ma p did le a d to the de ve lo pme nt/ a dva nc e me nt o f a ra ng e o f
suppo rt me c ha nisms fo r de ve lo ping c o untrie s o n b o th mitig a tio n a nd a da pta tio n
23
1(b )(ii):
Na tio na lly Appro pria te Mitig a tio n Ac tio ns (NAMAs) b y de ve lo ping Pa rtie s I
n the c o nte xt o f susta ina b le de ve lo pme nt,
Suppo rte d a nd e na b le d b y: I
n a Me a sura b le , Re po rta b le a nd Ve rifia b le ma nne r (MRV)
24
F inanc e T e c hnology Capac ity building
Artic le 2:
a ) Ho lding the inc re a se in the g lo b a l a ve ra g e te mpe ra ture to we ll b e lo w 2 °C a b o ve pre -industria l le ve ls a nd to pursue e ffo rts to limit the te mpe ra ture inc re a se to 1.5 °C a b o ve pre -industria l le ve ls, re c o g nizing tha t this wo uld sig nific a ntly re duc e the risks a nd impa c ts o f c lima te c ha ng e ; b ) I nc re a sing the a b ility to a da pt to the a dve rse impa c ts o f c lima te c ha ng e a nd fo ste r c lima te re silie nc e a nd lo w g re e nho use g a s e missio ns de ve lo pme nt, in a ma nne r tha t do e s no t thre a te n fo o d pro duc tio n; c ) Ma king fina nc e flo ws c o nsiste nt with a pa thwa y to wa rds lo w g re e nho use g a s e missio ns a nd c lima te -re silie nt de ve lo pme nt.
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L ONG T E RM GOAL
b e lo w 2ºC, to wa rds 1.5ºC
Unive rsa l T RANSPARE NCY fra me wo rk Co ntinue d CL I MAT E F I NANCE b y & b e yo nd 2025 F I VE YE AR re vie w & stre ng the ning
MI T I GAT I ON b y e ve ryo ne (NDCs) ADAPT AT I ON o n pa r with mitig a tio n Re c o g nise d L OSS & DAMAGE
T RACK I NG T HE NAT I ONAL L Y DE T E RMI NE D CONT RI BUT I ONS
26
Se c tio n 3
1)
COP 3 (K
yo to , 1997): E sta b lishe s the first fle xib ility me c ha nisms inc luding the Cle a n De ve lo pme nt Me c ha nism (CDM)
COP 7 (Ma rra ke c h, 2001): Ag re e d to e sta b lish thre e funds: 1) c lima te c ha ng e fund to suppo rt c lima te
me a sure s, 2) fund to suppo rt Na tio na l Ada pta tio n Pro g ra ms o f Ac tio n fo r le a st-de ve lo pe d c o untrie s, a nd 3) a K yo to Pro to c o l a da pta tio n fund suppo rte d b y a CDM le vy – (the se po ints ag re e d at the re sume d COP 6 ne g o tiatio ns in Bo nn, b ut finalise d at COP 7)
COP 9 (Mila n, 2003): Pa rtie s fina lise a g re e me nt o n the use o f the Adaptation F
und fo r suppo rting
a da pta tio n e ffo rts in de ve lo ping c o untrie s, b ut a lso fo r c a pa c ity b uilding thro ug h te c hno lo g y tra nsfe r.
Ho we ve r the fund was no t o ffic ially launc he d until 2007, and funding allo c atio n b e g an in 2010. Be twe e n 2010-2015, the fund has c o mmitte d US$331 millio n in 54 c o untrie s
COP 11 (Mo ntre a l, 2005): I
ntro duc e s the Re duc ing e missio ns fro m de fo re statio n and fo re st de g radatio n (RE
DD) me c ha nism a s a ne w fle xib ility me c ha nism
COP 12 (Na iro b i, 2006): T
he pro c e dure s a nd mo da litie s fo r the Ada pta tio n F und a re a g re e d
28
2)
COP 13 (Ba li, 2007): T
he Ba li Ro a d Ma p ide ntifie s fina nc e a s a ke y pilla r o f the future c lima te a g re e me nt, a nd e sta b lishe s a se t o f g uiding princ iple s fo r c lima te fina nc e :
1) T
me a ns o f funding fo r a da pta tio n; 4) T
nc e ntivise a da pta tio n a c tio ns o n the b a sis o f susta ina b le de ve lo pme nt po lic ie s; 5) T
the a sse ssme nt o f c o sts o f a da pta tio n in de ve lo ping c o untrie s, to a id in de te rmining the ir fina nc ia l ne e ds.
COP 16 a nd the Ca nc un Ag re e me nts (2010): De ve lo pe d c o untrie s c o mmit to mo b ilizing USD 100 Billio n
pe r ye a r b y 2020 to a ddre ss the ne e ds o f de ve lo ping c o untrie s fo r me a ning ful mitig a tio n a c tio ns a nd to e sta b lish the Gr
e e n Climate F und
T
he Sta nding Co mmitte e o n Clima te F ina nc e wa s e sta b lishe d a s pa rt o f the UNF CCC
COP 17 (Durb a n, 2011): Ado pts a Ma na g e me nt F
ra me wo rk fo r the Gre e n Clima te F und
At pre se nt, aro und USD 10.2 Billio n has b e e n c o mmitte d to the Gre e n Climate F
und b y 42 natio nal g o ve rnme nts, and an additio nal USD 18.4 Millio n fro m re g io nal and munic ipal g o ve rnme nts
COP 21 (Pa ris, 2015): Aims to a lig n the e xisting fina nc ia l flo ws with the o ve r
29
30
ME ANS OF IMPL E ME NT AT ION:
AN I NT E RDE PE NDE NT MI X OF F I NANCE , T E CHNOL OGY, CAPACI T Y BUI L DI NG AND MARK E T ME CHANI SMS
Curre nt disc ussio n ta ke s pla c e se pa ra te ly unde r e a c h me c ha nism. No e ntity is o ffic ia lly ta ske d to c re a te syne rg ie s a mo ng va rio us me c ha nisms.
NAMAs NAMA Re g istry F ina nc e me c ha nism GE F GCF Ma rke t me c ha nism CDM NMM F VA T e c hno lo g y me c ha nism T E C CT CN
(USD BI L L I ON AND ANNUAL I Z E D)
F
ro m 2010-2012, Glo b a l c lima te fina nc e in a ll c o untrie s ra ng e d fro m USD 340 to USD 650 b illio n pe r ye a r
Be twe e n 38-53% o f this funding wa s
dire c te d to the Asia -Pa c ific re g io n
I
n 2014, pub lic funding fo r c lima te fina nc e a c c o unte d fo r 38% o f the to ta l (i.e . USD 148 b illio n), while priva te funding a c c o unte d fo r 62% (i.e . USD 243 b illio n)
Priva te funding wa s prima rily inve ste d
into re ne wa b le e ne rg ie s
31
UNF CCC Sta nding Co mmitte e o n F ina nc e (2014) 2014 Bie nnial Asse ssme nt and Ove rvie w o f Climate F inanc e F lo ws Re po rt. Bo nn: UNF CCC.
http :/ / unfc c c .int/ file s/ c o o p e ra tio n_a nd _sup p o rt/ fina nc ia l_me c ha nism/ sta nd ing _c o mmitte e / a p p lic a tio n/ p d f/ 2014_b ie nnia l _a sse ssme nt_a nd _o ve rvie w_o f_c lima te _fina nc e _flo ws_re p o rt_we b .p d f
Clima te Po lic y Initia tive (2015) Glo b al L andsc ape o f Climate F inanc e 2015. www.c limate po lic yinitiative .o rg
33
50 100 150 200 250 300 350
Cha ng e s in a nnua l inve stme nt (USD2010 b illio n/ yr)
F
pla nts (witho ut CCS) L
g e ne ra tio n te c hno lo g ie s (re ne wa b le , nuc le a r, fo ssil fue ls with CCS)
+147 +336
E ne rg y e ffic ie nc y in the b uilding , tra nspo rt a nd industry se c to r
F ue l e xtra c tio n, tra nsfo rma tio n a nd tra nspo rta tio n* (*I PCC re po rte d inc o nsiste nt numb e rs) So urc e : I GE S synthe size d fro m I PCC AR5 (2014) R&D
+5
No te : Additio na l inve stme nt is de fine d a s the diffe re nc e b e twe e n po lic y sc e na rio s a nd BAU.
+78
Ke y Me ssage : Changing inve stme nt patte r n is e qually impor tant as sc aling up c limate financ e .
Mo dule pre pa re d b y:
Se nio r Co o rdina to r – Ca pa c ity De ve lo pme nt, E duc a tio n & K no wle dg e Ma na g e me nt E ma il: didha m@ ig e s.o r.jp
&
ric Zusma n
Princ ipa l Po lic y Re se a rc he r & Are a L e a de r – I nte g ra te d Po lic ie s fo r Susta ina b le So c ie tie s E ma il: zusma n@ ig e s.o r.jp
I nstitute fo r Glo b a l E nviro nme nta l Stra te g ie s
www.ig e s.o r.jp
"We a re a llo wing o urse lve s to tra ve l a uniq ue ly da ng e ro us pa th, a nd we a re d o ing so witho ut a n a ppre c ia tio n fo r the c o nse q ue nc e s tha t lie a he a d.“
“T his is a mo ra l mo me nt. T his is no t ultima te ly a b o ut a ny sc ie ntific de b a te o r po litic a l dia lo g ue . Ultima te ly it is a b o ut who we a re a s huma n b e ing s. I t is a b o ut o ur c a pa c ity to tra nsc e nd
limita tio ns. T
a s o ur he a ds, the unpre c e de nte d re spo nse tha t is no w c a lle d fo r. T
to she d the illusio ns tha t ha ve b e e n
a c c o mplic e s in ig no ring the wa rning s tha t we re c le a rly g ive n, a nd he a ring the o ne s tha t a re c le a rly g ive n no w.”
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F ro m the I nte rim 2014 Re po rt o f the De e p De c a rb o niza tio n Pa thwa ys Pro je c t
Re q uire d re duc tio ns to limit g lo b a l wa rming to 2°C ta rg e t ma ximum
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