Asia Investor Group on Climate Change (AIGCC)’s Post

Carbon markets are essential for accelerating climate action in developing countries, where climate finance needs far exceed available resources. This second edition of “State and Trends of International #CarbonMarkets ” reviews the status of the carbon market and delves into the bottlenecks currently impeding growth.

With global climate finance falling short in low- and middle-income countries, Denmark is showing how coordinated action across multiple initiatives can create a pipeline of investable climate enterprises. Join us to explore: 🌍 How to systematically build investable climate businesses 📈 What makes financing models work in emerging markets 🌿 Real examples of successful climate enterprises 🛟 New approaches to risk assessment and reduction 📅 November 15, 2024 🕒 4:15 - 5:00 PM +04 📍 Denmark Pavilion Full session info: https://bit.ly/3YAe5rh #COP29 #ClimateFinance

Leaving the Paris Agreement – Again? 🌍 I read an article in the The Wall Street Journal suggesting that withdrawing from the Paris Agreement could “benefit the U.S., the rest of the world, and the climate.” At first glance, this sounds counterintuitive. How can stepping back from a global commitment to reduce emissions be seen as progress? The reasoning? 👉 Current efforts to decarbonize are costly and disruptive. 👉 Energy poverty needs urgent attention globally. 👉 Developed countries are criticized for not meeting their promises. But here’s the real question: Can we afford to take this step back when the clock is ticking on climate action? I believe this discussion highlights two realities: 1️⃣ We need bold leadership to align economic priorities with sustainable goals. 2️⃣ Energy equity matters. Solutions must consider those most affected by energy poverty, without sacrificing global progress on emissions. Walking away from the Paris Agreement may look like “restarting” the conversation, but could it undermine the momentum we’ve fought so hard to build? What do you think? 👉 Is this an opportunity to rethink climate strategies and take a more effective path? 👉 Or does stepping back send the wrong message at a time when collective action is more critical than ever? Let’s focus on solutions that combine economic growth with climate resilience. We don’t need to choose between progress and people – we can build a path forward that benefits both. 🌱 Drop your thoughts below! Let’s keep this conversation going.

"The collective target on Climate on Finance: The key challenges 1 Transparency: There are no universally agreed modalities to account for international climate finance, so there is no clarity on how much finance was mobilize, and whether these resources are really "additional". 2 Balance: A large amount of climate finance is still focused on mitigation, compromising adaptation efforts.  3 Modalities: Most resources are allocated as loans, meaning that developing countries will have to pay interest rates in return." #PACCDA2024 #ChangeMakerForClimate https://lnkd.in/eq4Bz5iQ

Cut through the climate noise. Just the big developments in the Quarter & whether they are +tive or -tive to transition and final temperature outcomes. Wednesday July 10th. Register: https://lnkd.in/gM-3JA9n

For many developing countries, combatting the impacts of climate change and making the transition to greener, more resilient economies will be impossible without significantly more and higher quality finance. At #COP29, countries around the world will come together to address this need by negotiating a new global goal for climate finance for the first time in fifteen years. From questions of size and scope to matters of contributor base and accountability, the negotiators of the “new collective quantified goal” (#NCQG) have a lot to grapple with. Join WRI on May 15th as we unpack the key elements of the negotiations and lay out principles that can help countries bridge differences on the major #ClimateFinance issues at play. 💻 Register and learn more: https://lnkd.in/eMcaqBBu

The economic commitment of climate change “Policy implications: We find that the economic damages resulting from climate change until 2049 are those to which the world economy is already committed and that these greatly outweigh the costs required to mitigate emissions in line with the 2 °C target of the Paris Climate Agreement (Fig. 1). This assessment is complementary to formal analyses of the net costs and benefits associated with moving from one emission path to another, which typically find that net benefits of mitigation only emerge in the second half of the century. Our simple comparison of the magnitude of damages and mitigation costs makes clear that this is primarily because damages are indistinguishable across emissions scenarios—that is, committed—until mid-century (Fig. 1) and that they are actually already much larger than mitigation costs. For simplicity, and owing to the availability of data, we compare damages to mitigation costs at the global level. Regional estimates of mitigation costs may shed further light on the national incentives for mitigation to which our results already hint, of relevance for international climate policy. Although these damages are committed from a mitigation perspective, adaptation may provide an opportunity to reduce them. Moreover, the strong divergence of damages after mid-century reemphasizes the clear benefits of mitigation from a purely economic perspective, as highlighted in previous studies” Link to the paper: https://lnkd.in/etYG_y9N #climatechangemitigation #climatechange #costs #externalities #benefits #policymaking #adaptation #economy

🌎 UN Climate Change Update: June 2024 Meetings in Bonn  During the June UN Climate Meetings in Bonn, Germany, 23 countries showcased national efforts to address climate change. The focus was on transparency to assess global climate progress, build trust among nations, and inform stronger climate policies. ✔ Key Highlights: 1.     Facilitative Sharing of Views (FSV): Eight developing countries shared their climate achievements, progress in building institutional systems, and discussed challenges and improvements needed. 2.     Multilateral Assessment (MA): Fifteen developed countries evaluated their progress towards 2020 climate targets. ✔ National Initiatives Highlighted: 1.     Aiming for carbon neutrality by 2050. 2.     Boosting renewable energy and energy efficiency initiatives. 3.     Implementing sustainable agriculture and agroforestry practices. 4.     Promoting economic instruments such as carbon pricing policies. ✔ Upcoming Milestones:  Preparations for the submission of the first biennial transparency reports (BTR) by the end of this year under the Paris Agreement’s enhanced transparency framework (ETF). ✔ Transition to Enhanced Transparency Framework (ETF):  The FSV and MA processes will be replaced by the facilitative multilateral consideration of progress (FMCP). This new joint process will allow countries to share experiences and learn from best practices in delivering climate action and support. #ClimateAction #Sustainability #UNClimateChange #Transparency #ParisAgreement #RenewableEnergy #ClimatePolicy #GlobalGoals

5 key takeaways from NY Climate Week 2024 This year’s NY Climate Week brought together more than 100,000 attendees. Over 600 events filled the city. With fewer corporations heading to COP29 in Azerbaijan and a global focus on climate action wavering due to political and economic uncertainty, there was much to unpack. Here are the five biggest takeaways: 1️⃣ Regulatory worries: Corporations are bracing for compliance chaos as laws like the EU’s CSRD kick in. The transparency push aims to drive real climate action, but the growing pains are evident. 2️⃣ Realism and practicality: The goalpost has shifted from "1.5 degrees" to "substantially below 2.0 degrees." Practical actions are replacing ambitious yet unsubstantiated targets. 3️⃣ Voluntary Carbon Markets (VCM): Despite its challenges, VCM took center stage with its own day. Leaders see it as a vital tool in global decarbonization strategies – the key now is to get it right. 4️⃣ Maturing reporting frameworks: New governance for the GHG Protocol and an expanded partnership between CDP and the Net-Zero Data Public Utility aim to make climate data more accessible. 5️⃣ Geopolitical unrest: Global tensions are hampering progress. With nations like Barbados calling for a “reset” of global institutions, it’s clear the climate fight is deeply intertwined with political dynamics. For more detailed insights, check out the original article by Tim Mohin (27 Sep 2024). #ClimateWeekNYC #Sustainability #ClimateChange #ESG

This IMPORTANT report — stresses the need to step up climate action to meet global emission reduction targets, while contributing to broader development goals. It makes four important contributions to that end:  —It provides a common understanding of carbon pricing metrics to improve transparency on how countries are shifting incentives for decarbonization. It examines the composition of climate change mitigation policies, emphasizing the important role of carbon pricing as a cost-effective instrument that also raises revenues. —It outlines how international organizations can support the coordination of policies to foster positive and limit negative cross-border spillovers from climate change mitigation policies. It also analyses the advantages and disadvantages of carbon border adjustment policies, including their impact on developing countries. —It shows how such coordination can help to scale up climate action by closing the transparency, implementation and ambition gaps. https://lnkd.in/g5GSrdFw