Climate Change. Policy paths and Carbon Tracker action. April 2014
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Initiative arbon Tracker Climate Change. Mitigating the risks, adapting to the impacts.
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Overview on Climate Change Mitigation and Adaptation. Main policy dynamics from macro to domestic level. Focus on Carbon Tracker action and message.
Transcript of Climate Change. Policy paths and Carbon Tracker action. April 2014
Initiative
arbon Tracker
Climate Change.
Mitigating the risks,adapting to the impacts.
Initiative
arbon Tracker
Responsive attempt to reduce vulnerability of biological systems
Climate Change
Actions to limit CC impactE.g. Reduction GHG emissionsthrough CCS, reforestation
Not an either/or it is both mitigation & adaptation.
Mitigation Adaptation
Initiative
arbon Tracker
Three Scenarios
But where are we now?
6°
£ 2°
£2° £
GoldilocksScenario
NightmareScenario
Last MinuteScenario
1 2 3
2° £
1
Initiative
arbon Tracker
Goldilocks Scenario
Policy & regulatory signal in time to allow orderly transition and a managed deflation of the “carbon bubble”.
2
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arbon Tracker
Nightmare Scenario
Global community fails to send policy & regulatory signal catastrophic warming of 3 to 6 degrees.
6°
£
3
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arbon Tracker
Last Minute Scenario
Action delayed until events drive political shift, resulting action swift & severe.carbon bubble bursts massive financial shock.
2°
£
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arbon Tracker
InternationalOverview
Copenhagen disaster
UNFCCC 2005
Kyoto Protocol
2009
Road to Paris?
2015
Initiative
arbon Tracker
European Overview
40%
EU 2020 package2007
EUETSEU ETS RenewablesDirective
EnergyEfficiency
Key building blocks:
EU 2030 package
20% 20% 20%
27% cont.improv.
2014
UK Overview
Initiative
arbon Tracker
budget setting
But we are only small...what about China, US, India?
UK – Climate Change Act2008
UK – Committee on Climate Change
Broadening the context...
Initiative
arbon Tracker
This is not about the environment its about the whole economy.
A matter of communications...
Initiative
arbon Tracker
Carbon Tracker is translating climate change into the language of finance.
climate changepolicy makers
$
investmentcommunity
Financial experts making carbon investment risk visible in the capital markets today.
Carbon Tracker Formula
Initiative
arbon Tracker
carbon budgetlisted fossilfuels reserves
unburnable carbonstranded assets
potentialcurrent
Listed reservesare 1/4 of totalknown reserves
Current listed reserves (762 GtCO2)far exceed a quarter of the carbon budgetsbut could double (1541 GtCO2)
762
1541
Carbon Tracker Research
Initiative
arbon Tracker
2011 2013 2013 2013
‘This report shows very clearly the gross inconsistency between current valuations of fossil fuel assets and the path governments have committed to take in order to manage the huge risks of climate change’
Professor Lord Stern of Brentford, Chair, Grantham Research Institute, LSE
