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Author: Hugh Bredenkamp Publisher: INTERNATIONAL MONETARY FUND ISBN: 9781462386864 Category : Climatic changes Languages : en Pages : 14
Book Description
This note outlines a scheme for mobilizing financing to help developing countries confront the challenges posed by climate change. The idea is to create a “Green Fund” with the capacity to raise resources on a scale commensurate with the Copenhagen Accord ($100 billion a year by 2020). By providing a unified resource mobilization framework, with up-front agreement on burdensharing and the capacity to meet the financing needs identified at Copenhagen, the Green Fund could facilitate progress toward a binding global agreement on reducing greenhouse gas emissions and allow developing countries to begin scaling up their climate change responses without delay. To achieve the necessary scale, the Green Fund would use an initial capital injection by developed countries in the form of reserve assets, which could include SDRs, to leverage resources from private and official investors by issuing low-cost “green bonds” in global capital markets. Contributors could agree to scale their equity stakes in proportion to their IMF quota shares, making these the “key” for burden sharing among the contributing countries. Since much of the financing would need to be provided ultimately as grants or highly concessional loans, the fund would also need to mobilize subsidy resources from contributors. Governments would likely require new sources of fiscal revenue for this purpose, including from carbon taxes and expanded carbon-trading schemes, which may take time to put in place. In the interim, the Green Fund could cover its subsidy needs from bond proceeds, interest income on its reserve asset capital base, and/or revenues from other innovative international tax schemes. Resources mobilized by the Green Fund could be channeled through existing climate funds, or via newly created special-purpose disbursement facilities. We are not proposing that the IMF itself would create, finance, or manage the Green Fund. The ideas set out in this note are being offered purely for consideration by the international community, and as a contribution to the broader public debate.
Author: Hugh Bredenkamp Publisher: INTERNATIONAL MONETARY FUND ISBN: 9781462386864 Category : Climatic changes Languages : en Pages : 14
Book Description
This note outlines a scheme for mobilizing financing to help developing countries confront the challenges posed by climate change. The idea is to create a “Green Fund” with the capacity to raise resources on a scale commensurate with the Copenhagen Accord ($100 billion a year by 2020). By providing a unified resource mobilization framework, with up-front agreement on burdensharing and the capacity to meet the financing needs identified at Copenhagen, the Green Fund could facilitate progress toward a binding global agreement on reducing greenhouse gas emissions and allow developing countries to begin scaling up their climate change responses without delay. To achieve the necessary scale, the Green Fund would use an initial capital injection by developed countries in the form of reserve assets, which could include SDRs, to leverage resources from private and official investors by issuing low-cost “green bonds” in global capital markets. Contributors could agree to scale their equity stakes in proportion to their IMF quota shares, making these the “key” for burden sharing among the contributing countries. Since much of the financing would need to be provided ultimately as grants or highly concessional loans, the fund would also need to mobilize subsidy resources from contributors. Governments would likely require new sources of fiscal revenue for this purpose, including from carbon taxes and expanded carbon-trading schemes, which may take time to put in place. In the interim, the Green Fund could cover its subsidy needs from bond proceeds, interest income on its reserve asset capital base, and/or revenues from other innovative international tax schemes. Resources mobilized by the Green Fund could be channeled through existing climate funds, or via newly created special-purpose disbursement facilities. We are not proposing that the IMF itself would create, finance, or manage the Green Fund. The ideas set out in this note are being offered purely for consideration by the international community, and as a contribution to the broader public debate.
Author: Leonardo Martinez-Diaz Publisher: U.S. Commodity Futures Trading Commission ISBN: 057874841X Category : Science Languages : en Pages : 196
Book Description
This publication serves as a roadmap for exploring and managing climate risk in the U.S. financial system. It is the first major climate publication by a U.S. financial regulator. The central message is that U.S. financial regulators must recognize that climate change poses serious emerging risks to the U.S. financial system, and they should move urgently and decisively to measure, understand, and address these risks. Achieving this goal calls for strengthening regulators’ capabilities, expertise, and data and tools to better monitor, analyze, and quantify climate risks. It calls for working closely with the private sector to ensure that financial institutions and market participants do the same. And it calls for policy and regulatory choices that are flexible, open-ended, and adaptable to new information about climate change and its risks, based on close and iterative dialogue with the private sector. At the same time, the financial community should not simply be reactive—it should provide solutions. Regulators should recognize that the financial system can itself be a catalyst for investments that accelerate economic resilience and the transition to a net-zero emissions economy. Financial innovations, in the form of new financial products, services, and technologies, can help the U.S. economy better manage climate risk and help channel more capital into technologies essential for the transition. https://doi.org/10.5281/zenodo.5247742
Author: Steffen Böhm Publisher: Open Book Publishers ISBN: 1800642636 Category : Science Languages : en Pages : 256
Book Description
Climate change negotiations have failed the world. Despite more than thirty years of high-level, global talks on climate change, we are still seeing carbon emissions rise dramatically. This edited volume, comprising leading and emerging scholars and climate activists from around the world, takes a critical look at what has gone wrong and what is to be done to create more decisive action. Composed of twenty-eight essays—a combination of new and republished texts—the anthology is organised around seven main themes: paradigms; what counts?; extraction; dispatches from a climate change frontline country; governance; finance; and action(s). Through this multifaceted approach, the contributors ask pressing questions about how we conceptualise and respond to the climate crisis, providing both ‘big picture’ perspectives and more focussed case studies. This unique and extensive collection will be of great value to environmental and social scientists alike, as well as to the general reader interested in understanding current views on the climate crisis.
Author: Richard K. Lattanzio Publisher: DIANE Publishing ISBN: 143798911X Category : Nature Languages : en Pages : 16
Book Description
The United Nations Framework Convention on Climate Change (UNFCCC, Treaty Number: 102-38, 1992), the Copenhagen Accord (2009), and the UNFCCC Cancun Agreements (2010), wherein the higher-income countries pledged jointly up to $30 billion of "fast start" climate financing for lower-income countries for the period 2010-2012, and a goal of mobilizing jointly $100 billion annually by 2020. The Cancun Agreements also proposed that the pledged funds are to be new, additional to previous flows, adequate, predictable, and sustained, and are to come from a wide variety of sources, both public and private, bilateral and multilateral, including alternative sources of finance.
Author: Michael Curley Publisher: CRC Press ISBN: 1000441822 Category : Law Languages : en Pages : 132
Book Description
The Price of Climate Change: Sustainable Financial Mechanisms presents a summary of the effects of global warming with specific emphasis on what these phenomena will cost and the price we must pay for trying to mitigate these processes. Some of these mitigation strategies include reducing our use of carbon by converting to non-carbon energy sources such as solar, wind, and nuclear, or lower-carbon sources such as natural gas. The book examines the financial implications of society adapting to the effects of climate change, including rising sea levels, extreme weather events, and desertification. Further, it addresses the costs to make buildings more resilient to climate change, such as flood considerations, improving durability against severe weather, bolstering insulation, and more. Sources of funding for any type of environmental projects, including those for climate change mitigation, are also examined. These include governmental budgets at the federal, state, and local levels, international development banks, international capital markets, and private funds. Features: Addresses global climate change issues from the standpoints of mitigation, adaptation, and resilience and the funding mechanisms for each. Describes different types of energy sources as well as their respective costs, including nuclear, solar, natural gas, and more. Examines the effects of agriculture on climate change as well as the potential ways it can be used to help mitigate the issue. The book’s straightforward approach will serve as a useful guide and reference for practicing professionals and can also be appreciated by the general public interested in climate change issues and mitigation strategies.
Author: Ruud A. de Mooij Publisher: International Monetary Fund ISBN: 1475508387 Category : Business & Economics Languages : en Pages : 218
Book Description
Efforts to control atmospheric accumulations of greenhouse gases that threaten to heat up the planet are in their infancy. Although the IMF is not an environmental organization, environmental issues matter for its mission when they have major implications for macroeconomic performance and fiscal policy. Climate change clearly passes both these tests.
Author: Signe Krogstrup Publisher: International Monetary Fund ISBN: 1513511955 Category : Business & Economics Languages : en Pages : 58
Book Description
Climate change is one of the greatest challenges of this century. Mitigation requires a large-scale transition to a low-carbon economy. This paper provides an overview of the rapidly growing literature on the role of macroeconomic and financial policy tools in enabling this transition. The literature provides a menu of policy tools for mitigation. A key conclusion is that fiscal tools are first in line and central, but can and may need to be complemented by financial and monetary policy instruments. Some tools and policies raise unanswered questions about policy tool assignment and mandates, which we describe. The literature is scarce, however, on the most effective policy mix and the role of mitigation tools and goals in the overall policy framework.
Author: Adrian Fozzard Publisher: World Bank Publications ISBN: Category : Languages : en Pages : 257
Book Description
This Climate Change Public Expenditure and Institutional Review Sourcebook (CCPEIR) seeks to provide practitioners with the tools and information needed to respond to the public expenditure policy and management challenges arising from climate change. It is a series of notes and supporting materials written as a first step towards consolidating current research and international experience, identifying emerging practice and providing practical and applicable guidance for staff of central finance agencies, development agencies, environmental agencies and other international organizations working on climate change issues. In addition to emphasizing the importance of strengthening national systems throughout, the Sourcebook focuses on the specific public expenditure policy and management challenges posed by climate change, such as decision-making in the face of uncertain future climate conditions, expenditure planning for extreme weather and climate events, the lack of agreed budget definition and classification of climate change activities.
Author: Bradly J. Condon Publisher: OUP Oxford ISBN: 0191668141 Category : Law Languages : en Pages : 288
Book Description
Climate change presents an unprecedented global challenge, and impacts upon a wide range of human economic activity. The issue of how to address climate change in developing countries has provoked international political controversy and the urgent need for effective international responses has become increasingly apparent. The Role of Climate Change in Global Economic Governance addresses the growing number of legal and economic issues that arise with respect to climate change, combining analysis from economic, financial, and legal perspectives. The book assesses how the World Trade Organization, international investment law, and the international intellectual property rights regime approach the economic issues raised by climate change. The authors analyse how climate change regulation interacts with international economic law, and consider how financial instruments and insurance can mitigate the risks posed by climate change and facilitate adaptation. It breaks new ground in considering the financial sector's response to climate change, looking at how market mechanisms and risk insurance can reduce its economic cost.
Author: OECD Publisher: OECD Publishing ISBN: 9264266917 Category : Languages : en Pages : 70
Book Description
Storms, hurricanes, and cyclones have been a feature of life on Small Island Developing States (SIDS) for centuries. But climate change is now increasing the intensity of these disasters, as well as creating new developmental challenges - like rising sea levels and increasing ocean acidity - ...
Author: Hugh Bredenkamp
Author: Hugh Bredenkamp
Author: Leonardo Martinez-Diaz
Author: Steffen Böhm
Author: Richard K. Lattanzio
Author: Michael Curley
Author: Ruud A. de Mooij
Author: Signe Krogstrup
Author: Adrian Fozzard
Author: Bradly J. Condon
Author: OECD