Nature-based solutions provide 30% of the mitigation needed for 2030 climate goals and high integrity carbon markets have also consistently shown to advance corporate climate action (when it costs something to emit - you move faster). Despite this potential, nature based solutions receive less than 10% of international climate finance. The US Government’s statement recognizes the challenges carbon markets have faced and details principles meant to address those concerns: - ensure credits are credible, represent real decarbonization, and avoid harm if not provide co-benefits; - ensure buyers of credits prioritize emission reductions in their own value chains, publicly disclose details of any credits used, and make accurate claims using only high-integrity credits. The Biden Administration’s thinking is well aligned with WMBC's Principles for Corporate Climate Leadership on the Role of Nature-Based Solutions. "Markets not only create environmental externalities, but when well-designed, can also be used to fix them." https://lnkd.in/gDmHKybU
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Debate on the carbon footprints of sovereign bond issuers is likely to only heat up, especially amid an intensifying focus on climate reparations, carbon taxes, and national carbon budgets. We think this creates an opportunity for investors to engage with governments as they work to decarbonise their portfolios, using carbon footprinting as a tool to support climate reporting and risk assessment. Learn more: https://lnkd.in/eXc4JzG9
Sovereign carbon footprints – An opportunity for investors and governments to collaborate
viewpoint.bnpparibas-am.com
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Climate-related disclosures are made on a fund-by-fund basis to help you, our investors, understand the impact of climate change on the future performance of your investments. 🌿 These new reporting requirements are intended to provide you with greater visibility of the risks of climate change on your funds, both physical risks, such as the impact of flooding, wildfires and higher temperatures on the businesses your fund invests in, as well as the associated risks to the economy in a low carbon future (sometimes called “transitional risks”) that can impact financial markets. Mandatory climate-related reporting will also help New Zealand meet its international obligations to achieve the target of net zero emissions by 2050. It will: - Ensure the effects of climate change are routinely considered in business, investment, lending and insurance underwriting decisions - Help climate reporting organisations better show their responsibility and forward planning in considering climate issues -Lead to more efficient allocation of capital, and help smooth the transition to a more sustainable, low emissions economy. https://lnkd.in/gu5VXzn3
Reporting on the effect of climate change
fisherfunds.co.nz
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The UNFCCC's new Loss and Damage Fund aims to address climate change-related losses, following decades of advocacy by vulnerable countries. Key factors for equitable finance include inclusive governance, new funding, specialized instruments, direct access, and the polluter pays principle. Potential catalysts for fair finance include ecological impacts, institutional developments, Global South leadership, and legal advancements. Ongoing evaluation is essential to ensure the fund aligns with climate justice principles. Read more: https://lnkd.in/dQehqi_d
Equity and Justice in Loss and Damage Finance: A Narrative Review of Catalysts and Obstacles - Current Climate Change Reports
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Recent focus on loss and damage in the United Nations Framework Convention on Climate Change (UNFCCC) follows decades of demands by vulnerable countries for compensation for losses due to climate change. My new article coauthored with Ike Uri, Timmons Roberts, David Ciplet and Mizan Khan overviews the history of loss and damage finance, suggests 5️⃣ criteria that could make the Loss and Damage Fund just, and discusses 4️⃣ potential catalysts for equity and justice ⬇ 1️⃣ Ecological and climatic impacts 2️⃣ Institutional developments outside the UNFCCC 3️⃣ Global South leadership on debt justice 4️⃣ Legal developments As the Loss and Damage Fund is operationalized and the need for loss and damage finance grows, scholars must continue to ask whether loss and damage finance furthers core tenets of climate justice, including forms of restitution. The article is available open access here ➡ https://lnkd.in/gYFrhQjV.
Equity and Justice in Loss and Damage Finance: A Narrative Review of Catalysts and Obstacles - Current Climate Change Reports
link.springer.com
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Last month, the US Government announced their approach to advancing high-integrity Voluntary Carbon Markets as part of broader plans to drive climate action and economic opportunity. A significant development, the announcement of these new principles highlights how VCMs are increasingly being recognised as beneficial to wider strategies to combat climate change, as long as a robust market is established and reliable, high-integrity credits are connected to credible buyers and environmental integrity is prioritised. Read the full fact sheet here: https://lnkd.in/e2w2U4-y #ClimateChange #Sustainability #ESG #VoluntaryCarbonMarkets
FACT SHEET: Biden-Harris Administration Announces New Principles for High-Integrity Voluntary Carbon Markets | The White House
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Today, the U.S. government released Principles for Responsible Participation in Voluntary Carbon Markets (VCM). Climate change is here, and we do not have another century to make a difference. To maintain a livable planet, we need clear and fast action, which will require significantly higher investment. Markets are one of the best ways to do that – they provide an entry point for much-needed new capital and they put that money in the hands of businesses and landowners contributing to climate action in the US and around the world. As with everything, carbon markets need to be done right to get the results we need. There has been a significant evolution in the markets over the past five years, and these new principles are another means to help address concerns around integrity. Markets and these guidelines work for climate solutions from all sectors – because we need them all. Nature can provide at least one third of the climate action needed, it’s available now, affordable and goes directly to supporting local communities, but only receives 3% of climate funding. At Conservation International, we are thrilled to see the U.S. Government's vote of confidence. This move signals that high-integrity markets are not only necessary, but possible.
U.S. Department of the Treasury Releases Joint Policy Statement and Principles on Voluntary Carbon Markets
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High-integrity carbon markets are both necessary and possible that's what The White House is saying with this new policy statement. It's a big and much-needed signal to companies who want to take additional climate action. Very happy to see that these guidelines cover climate solutions from all sectors – because we need them all. Nature based solutions can provide at least one third of the climate action needed, are already available and go directly to supporting local communities in the US and in the Global South, but only receive 3% of climate funding. Markets can help change that. https://lnkd.in/ghcdVm8A
Today, the U.S. government released Principles for Responsible Participation in Voluntary Carbon Markets (VCM). Climate change is here, and we do not have another century to make a difference. To maintain a livable planet, we need clear and fast action, which will require significantly higher investment. Markets are one of the best ways to do that – they provide an entry point for much-needed new capital and they put that money in the hands of businesses and landowners contributing to climate action in the US and around the world. As with everything, carbon markets need to be done right to get the results we need. There has been a significant evolution in the markets over the past five years, and these new principles are another means to help address concerns around integrity. Markets and these guidelines work for climate solutions from all sectors – because we need them all. Nature can provide at least one third of the climate action needed, it’s available now, affordable and goes directly to supporting local communities, but only receives 3% of climate funding. At Conservation International, we are thrilled to see the U.S. Government's vote of confidence. This move signals that high-integrity markets are not only necessary, but possible.
U.S. Department of the Treasury Releases Joint Policy Statement and Principles on Voluntary Carbon Markets
home.treasury.gov
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On August 2, the Scottish Government published a position paper on the proposed Climate Change (Emissions Reduction Targets) (Scotland) Bill. This Bill aims to amend the Climate Change (Scotland) Act 2009 in response to advice from the Climate Change Committee (CCC) regarding the feasibility of Scotland’s interim emissions reduction target for 2030. Purpose: The Bill seeks to establish a carbon budget approach to target setting, reflecting the latest CCC advice, while maintaining the net zero emissions target for 2045 and the commitment to just transition principles. 1. Carbon Budgets: - Multi-year carbon budgets provide a stable framework for emissions reduction, smoothing out year-to-year fluctuations. - Five-yearly carbon budgets will be implemented, covering periods up to the net zero target year in 2045. - Emissions from international aviation and shipping will be included, with no provision to carry over emissions between budget periods. 2. Setting Carbon Budgets: - The Bill will allow carbon budgets to be set through secondary legislation, using the latest independent advice from the CCC. - The CCC will provide advice on carbon budget levels in Spring 2025, with budgets to be set via the affirmative procedure thereafter. - Secondary legislation will be required to set carbon budgets for 2026-2030 and successive periods. 3. Climate Change Plan (CCP) Timing: - The Bill will align the CCP deadline with the carbon budgets, ensuring policies and actions are informed by set emissions reduction targets. - The next CCP will be brought forward as soon as practicable after carbon budget levels are established. 4. Annual Reporting: - The Bill maintains annual reporting on greenhouse gas emissions and the CCP. - Annual reports will include the percentage reduction in emissions compared to the baseline and whether the carbon budget target was met. This position paper outlines the Scottish Government’s plans for the Climate Change (Emissions Reduction Targets) (Scotland) Bill. These proposals are subject to change before the legislation is introduced to Parliament after the summer recess. For more updates on climate change legislation and policies, follow Global Regulatory Insights. #ClimateChange #Scotland #EmissionsReduction #CarbonBudget #NetZero #EnvironmentalPolicy #GRI
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The Biden-Harris Administration has released new Principles for Responsible Participation in Voluntary Carbon Markets (VCMs), aimed at advancing high-integrity VCMs that spur climate action and economic growth. According to the source, challenges like unreliable crediting methodologies have hindered market effectiveness, prompting a call for ensuring carbon credits meet credible standards, avoiding harm, and promoting transparency. Corporate buyers are urged to prioritize emissions reductions, and market participants encouraged to improve integrity. These principles aim to strengthen VCMs, restore confidence, and ensure they fulfill their climate goals effectively. Review the source for a better perspective: https://lnkd.in/e2w2U4-y
FACT SHEET: Biden-Harris Administration Announces New Principles for High-Integrity Voluntary Carbon Markets | The White House
whitehouse.gov
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