Richard King

#DYK that transparent reporting plays a key role in tackling the climate crisis? 📊   Imogen Stevens, Senior Policy Officer at CDP, emphasizes the importance of #climatedata to identify gaps, understand challenges, and enable stronger national climate policies. “For climate action, we need information across the whole of society, across companies, cities, states, regions and governments to enable everyone to take better action.” Watch now to learn more! #ClimateAction #Together4Transparency

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We have just published our latest Insights Briefing, hashtag #CredibleContributions: Bolder Plans for Higher Climate Ambition in the Next Round of NDCs. Success in the low-carbon transition to date has been driven by industry’s response to ambitious government targets – accelerating deployment and driving down costs. This paper highlights the need for government and industry collaboration to raise ambition in the next round of Nationally Determined Contributions – the “NDCs 3.0” due at COP30 to limit the impact of climate change. Read the full analysis: https://lnkd.in/eQfdmpgj

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Check out the Strategic Climate Risks Initiative It's a think-and-do tank collaboration for the next chapter of the climate and nature crisis... ...the chapter in which cascading, non-linear climate impacts will spiral; in which the risk of tipping points will grow and some might even be triggered; and the chapter in which 1.5C overshoot looks like it will happen. But that doesn't mean that it's 'game over', that the world 'lost'. Much is and will increasingly be lost, of course. But binary thinking isn't appropriate for what is now happening. The world has entered a far more challenging strategic context for action to tackle the climate and nature crisis. This context could present huge threats to action, as the world gets overwhelmed by managing worsening climate impacts and their destabilising consequences. But moments of dislocation also present unprecedented opportunities for change; for accelerating an already-rapid transition. Yet we have found that many organisations and communities do not have the insights and tools to understand and act on this context. Risk assessments have blind spots on cascading threats and tipping points. Resilience to current climate impact is poor, let alone for future shocks. Environmental stories often shy away from the challenges to come - and the opportunities therein. In response, the Strategic Climate Risks Initiative develops these insights and uses a set of tools to grow capabilities for navigating the next chapter of the climate and nature crisis. Some of our projects include: - developing a mitigation agenda for 'derailment risk': the risk that the *consequences* of climate change could get in the way of tackling the *causes* - a podcast documentary on the challenges arising from 1.5C overshoot - a fellowship to support creatives tell 'thrutopian' climate stories for policy impact - 'decision-useful' risk assessments of climate tipping points and 'resilience games' to play through how to manage the risks - a trial leadership development programme for emerging leaders (Cohort 2040) - a policy agenda for assessing and managing climate-induced human security threats (see: https://lnkd.in/eVwUTzTG) To learn more, follow us at Strategic Climate Risks Initiative and visit https://www.scri.org.uk/ - and please drop me a message. Also, follow our researcher Ben Shread-Hewitt and our partners UCL Climate Action Unit!

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Shocking figures in this new report on the economic impacts from nature loss in the UK. It shows that damage to the natural environment could lead to an estimated 12% reduction to GDP in the years ahead - larger than the hit to GDP from the global financial crisis or Covid-19. The Government must urgently address these risks to our economy, starting with a nature-positive economic strategy that supports and incentivises the business and finance community to invest in nature, and reduce negative impacts, especially deforestation which is a big threat to climate change and food security. As part of this, a due diligence obligation on companies and financial institutions to address the deforestation risks associated with their activities would be an important step forward.  Green Finance Institute WWF-UK

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There are multiple stories to be told about adaptation finance. The first is that, despite mounting climate impacts, investments in adaptation are much lower than needed. But at the same time, what we call “adaptation finance” is only a fraction of what is needed to make countries, communities, and people more resilient. In this blog post, we claim that reducing vulnerability to climate impacts and building resilience requires three things: more rapid development, more resilient development, and targeted adaptation interventions. Climate finance numbers tend to only capture the latter, while countries need to achieve all three for good adaptation with the first two particularly important for the world’s poorest countries. How does the picture change when we take this broader perspective on adaptation and resilience? What priorities do emerge? One key idea is that, even with more adaptation finance, we will never be able to protect populations and economies if development investments are insufficient or if they continue to create new risks and vulnerabilities because they do not take future climate conditions into account. See more in the blog post, co-authored with Jia Li and Ferzina Banaji https://lnkd.in/gX9ngup4

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The UNFCCC’s 2024 NDC Synthesis Report, released today, shows that current national climate plans fall far short of what is needed to limit global temperature rises to 1.5°C. As part of the COP Presidencies Troika, we continue to call on countries to deliver enhanced NDCs that meet the urgency of the moment. Read the report: https://lnkd.in/eSHXjbYQ #COP28

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📢 Expression of interest: Tackling black carbon research gaps to inform #ClimateChange mitigation strategy 🌏 We are seeking opportunities to support research on black carbon and black carbon-rich emission sources with a focus on reducing key scientific uncertainties and tackling open research questions on near-term climate change mitigation. We encourage research institutes, universities, think tanks and interested organisations to submit expression of interest by 15 November 2024. ⬇️ #AirPollution #AirQuality https://bit.ly/3wuBUD7

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Amid all the ruckus in the EU regarding carbon removals, the UK just launched a public consultation on the integration of GHG removals (GGRs) in the UK ETS. From a brief outlook on the public consultation, it seems the integration of removals in the UK ETS would be complementary to existing decarbonisation efforts, i.e. (only) offsetting residual emissions from hard-to-abate sectors. #CarbonMarket #CarbonRemovals #ETS #UKETS #ClimateAction https://lnkd.in/dnTB7URa

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New Payne Institute for Public Policy Financial Flow blog post! Observations from The World Bank about potential growth in #carboncredits demand to pay #carbontaxes or for #emissions allowances. (In other words, compliance demand growth may not have to wait for resolution of seemingly never-ending Article 6 negotiations.) #carbonoffsets #sustainablefinance #netzero #carbonemissions #carbonmarkets https://lnkd.in/eX8aQYbh

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📣 New exciting #fundingopportunity to develop an early warning system for climate tipping points to build resilience and accelerate proactive climate adaptation. 📌 Programme: #ForecastingTippingPoints from the 🇬🇧 UK Advanced Research + Invention Agency (ARIA) ❄️🌊 Scientific focus on the Greenland ice sheet and sub-polar gyre - both of which are crucially important both locally and globally. 💷 Backed by £81 million Open to: 💡 High risk/high reward transformative ideas 🤝 Multi-disciplinary approaches and integration of knowledge-systems 🇬🇧🇬🇱 UK-and Greenland-based researchers, institutions, companies, and individuals* *also opportunity to apply from other countries (see details in linked material) Foreign, Commonwealth and Development Office - Research, Science and Innovation Department for Science, Innovation and Technology British Antarctic Survey National Oceanography Centre Scottish Association For Marine Science Met Office Royal College of Art Greenland Research Council Asiaq - Misissueqqarnerit - Grønlands Forundersøgelser Ilisimatusarfik GEUS Arctic Hub Grønlands Naturinstitut DTU - Technical University of Denmark Danmarks Meteorologiske Institut DTU Space

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IPR in collaboration with Kaya Partners latest briefing looks at the role of Nature-based solutions for climate arising from the land and agriculture sectors with a lens on Brazil, which has massive NBS potential (10% of global). Recent trends in private sector financial flows and large announced funds suggest that Brazil could succeed in shoring up needed investment over the long term and offer potential models for the globe. However, concessional finance and catalytic capital will be essential to de-risk and accelerate. To implement NBS solutions for climate, an estimated $1.6 trillion will be required globally by 2050. If private and public sector initiatives fail to mobilize sufficient resources, large-scale government-to-government funds may need to intervene. 

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#GCFinsight | 📣 SURVEY EXTENSION - Closes this Friday 20th September at 23:59 BST📣 📣Are you involved or have been involved in Green Climate Fund project and programme development? 📣 A few days left to share your views on 'Capacity to access climate finance' - https://lnkd.in/e-dS3hTA. 🔸 This survey will form the basis of our 27th GCF insight report series which we'll share with the wider Green Climate Fund community online and GCF Secretariat at the upcoming board meeting this October in Songdo. 🔸 Capacity remains a top challenge in realising high #climateambition. Good project design is certainly one component of effective #climateaction, but #funds, #governments and #accreditedentities having the resources to carefully craft and implement them is another.    🔸 So now, we're extremely keen to hear your voice and share them in a dedicated GCF insight report, focusing on the specific capacity issues you face. This latest survey focuses on individual capacity building which refers to the development of knowledge, skills, and attitudes in individuals that enable them to effectively contribute to climate action and access climate finance.   🔸 This independent survey should take no more than 10 minutes to complete and your responses are strictly confidential. Feel free to share this with your colleagues - whether governments, accredited entities, consultants or relevant stakeholders in the climate finance ecosystem.    Deadline: Monday 16 September, 23:59 BST. We look forward to hearing your views! #climatefinance #GCF #GEF #AdaptationFund #MAF #projects #programmes #policy #training #capacitybuilding #sustainabledevelopment #UNFCCC #COP29 #Baku #education #finance #internationaldevelopment #unlockingfinance #Parisagreement #consultancy

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It's a shame that so many commentators haven't really studied or engaged with degrowth ideas beyond simplistic caricatures. The refrain from commentators that changing the growth based nature of the economy is politically impossible betrays a lack of historical awareness of what changes political possibilities & how quickly this can happen - for example one of the most profound transformations of the twentieth century was the massive increase in women moving to the formal paid economy which has resulted in complex social, economic & cultural repercussions that are still being worked out to this day. Such an outcome would have been seen as a political impossibility in 1914 but became a political necessity in 1918. Secondly commentators rarely consider what the cost of inaction on climate change will have not just financially, but also socially & geopolitically. This is the real political cul de sac. Finally it's frustrating that commentators focus 'future of the economy discussions' on just climate emission. Rarely do they explore climate justice/ just transition & even rarer do they move from spotlighting emissions to floodlighting issues of biodiversity & planatary boundaries. This might change perceptions of political realism.

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OK here we have it! Lots of different viewpoints reflected. After much discussion and some test buys, I'm starting to recommended a unit size of 10m2 for 1yr (even if the lifetime of the project is longer) whether the projects is Conservation (stewardship), Restoration (uplift), or a Hybrid project. This is a good atomic unit to encourage fungibility in markets. A good base level price point for conservation/stewardship is about 15 cents (US). Restoration or uplift would be significantly more expensive -- a good ballpark is about 3x more with added upfront costs or 45 cents (amortized over 10 yrs) for tropical forests (much more for wetlands, etc). Hybrid approaches might be somewhere in the middle like 30 cents (e.g. assisted forest regeneration by clearing invasives). About 20% of the cost is MRV (higher MRV costs are anticipated to document uplift). There should be 50% benefit share with local communities. Thoughts my own.

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⏩ While there's growing evidence that banks who act on nature risk are seeing business gains, information on risks in key sectors can sit in sustainability teams for months or years before they are translated into actions by front office deal-making staff. New Sector Action Guidance for banks launching on 21 October from United Nations Environment Programme Finance Initiative (UNEP FI), the Principles for #ResponsibleBanking and The Biodiversity Consultancy Ltd gets easy-to-use lists of no-regrets actions in key sectors that the front office can ask for today - making new ways of doing business easier than ever. ⏩ Check out this OpEd from Jessica Smith, Grant Rudgley, Susanne Schmitt, Oualid Rokneddine, Malcolm Starkey, and I, and register for the launch webinar https://ow.ly/NUAg50TJnMU

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#climateadaptation: Recent findings from Oxfam have cast a spotlight on the reported figures of climate adaptation finance in Asia, with implications for the Asian Development Bank's (ADB) climate financing efforts. Oxfam's analysis suggests significant discrepancies in the reported numbers, raising questions about the accuracy and transparency of climate finance reporting. According to Oxfam's report, titled "Unaccountable Adaptation: The Asian Development Bank's overstated claims on climate adaptation finance," the ADB's actual finance numbers for major climate adaptation projects may be overstated by as much as 44%. In response to PTI queries, the ADB has reaffirmed its commitment to delivering USD 100 billion in climate financing by 2030, with a significant portion earmarked for adaptation and resilience efforts. Read my story here: https://lnkd.in/gRQQZWyN

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There have been a conundrum and conflicting views on the role of subsidies for climate (fossil fuel), biodiversity and pollution World leaders have committed to phasing out harmful subsidies in these sectors. Recently, the World Trade Organization’s Agreement on Fisheries Subsidies and the Kunming-Montreal Global Biodiversity Framework committed to reducing harmful subsidies. Eliminating subsidies is not easy, though. Despite, the G20 commitment, estimates indicate that explicit fossil fuel subsidies were $1.3 trillion globally in 2022. In many contexts, the subsidies can be used as incentive to remove negative externalities. See these interesting analytics from Steve Polasky et al… https://lnkd.in/eXQr9KT5 Institutions who shape and streamline subsidies have a role to play. In fact in larger context , institutions do play a role in shaping the performance and non-performance not only for management of environment but the entire economy and society. No surprise if the Nobel Committee yesterday awarded Prize in Economics to Daron Acemoglu, Simon Johnson and James Robinson who have worked on this theme.

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A super useful document to understand how the various pieces of new and upcoming EU ESG regulation (#CSRD, #CSDDD, Green Claims Directive, etc) relate to each other. Thanks Andreas Rasche for sharing this - and for all the other thought-provoking corporate sustainability content too!

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