Livestream recording of “Financing Climate Ambition in the context of COVID-19”. A sustained green, resilient recovery from COVID-19 requires significant investments to scale and achieve economy-wide transformation, particularly in developing and emerging markets. Delivering this sustainable recovery and creating new opportunities for growth will involve accelerating the transition towards a low-carbon, resilient future that is already underway. Since its inception in 2010, the Petersberg Climate Dialogue has provided a forum for high-level political discussions, focusing both on the international climate negotiations and on advancing climate action on the ground. This year, the Petersberg Climate Dialogue will be held virtually for the first time, and will focus on climate ambition in the context of a green, resilient recovery. See, in particular Mark Carmey from 41.43 He asks “what can we do to drice climate finance in support of the transition to a net zero economy?” A related question is what will be the economics of a post-Covid world? The new economy will require a massive reallocation of capital. It provides an opportunity to require companies and sectors to have net zero transition plans. The aim of his work on Cop-26 is to ensure that every financial decision takes climate into account. 120 countries have committed to net zero. That means every company, every sector, every pension fund in those countries should have a net zero plan which it has disclosed. When countries are designing their recovery strategies they would do well to use this new financial framework that is centred around the transition to net zero because that will amplify the effectiveness. Once the war against Covid in won our ambition should be to build a planet fit for our grandchildren.
Climate Policy Initiative 29th April 2020 read more »
Top regulator who steered banks’ revival after last crash has a new crisis mission: ‘My green energy plan to spark the economy back to life’. With the oil price at record lows, Lord Turner concedes that fossil fuels ‘are suddenly going to look cheap’ as travel resumes – potentially making a switch to cleaner energy less attractive. But he is adamant that investment in green fuel would create jobs and give Britain’s post-coronavirus economy a much-needed boost. For instance, a jobs cull in North Sea oil could be offset by transferring workers with marine engineering skills to building bases for offshore windfarms, he says. ‘North-west Europe is blessed with huge amounts of offshore wind potential, and both the UK and the rest of Europe should be planning for massive offshore wind developments in the North Sea that can give us green electricity at a low price,’ he says. ‘It’s a huge strategic opportunity.’ When pressed on whether the Government should bail out struggling companies, rather than letting some firms fail, it’s the first time his smooth theorising is rattled. ‘I’m not getting into the specifics of individual companies,’ he says testily. ‘But any company that receives a bailout should have green targets attached.’
Daily Mail 2nd May 2020 read more »
Ed Miliband: We know that the climate emergency is a challenge we can simply no longer afford to ignore. Let’s create an army of zero carbon workers, retraining and redeploying those who can’t work into different industries, from home insulation to wind turbine manufacture to tree planting.
Observer 3rd May 2020 read more »