Oliver Matikainen | Finance has always been a key issue at the UN’s Conferences of the Parties, and a sticky one at that. In this sense, COP26, held in Glasgow, Scotland, in November, was no different. Climate finance is key because it cuts across all other issues. One of the big things to come out of COP26 was the Glasgow Financial Alliance for Net Zero, that aims to align private capital with science-based targets to finance the investment in a net-zero economy.
Andrew Fraser (Aberdeen Standards) | They talk, but they don’t do,’ this is how the Queen expressed her frustration with world leaders on the eve of COP26. The same accusation could be levelled at the world’s major banks. They finance the world’s largest companies and have a huge role to play in halting climate change. But the opportunity has yet to be fully grasped. Banks could take a major part…
This week, awareness of climate change and its consequences hits harder than ever before thanks to COP26. While European countries have arguably started to take climate considerations into account in their budgets, there is still a long way to go. Here is an interesting analysis by the rating agency Scope on the costs and consequences of climate change for countries, their economies and their sovereign ratings, including Spain.
Lidia Conde (Francfort) | Herman Simon, founder of Simon-Kucher & Partners, is best known for his 30 books, translated into 26 languages. His works on pricing and price management have become classics in the academic world. According to Manager Magazin, he is the world’s foremost pricing expert. Q: There will probably be a red-green cabinet supported by the Liberals. What do you expect from the new government “in the Chinese…
Irene Lauro (Schroders) | While climate change is affecting all regions around the world, global warming and precipitation rates will not be distributed evenly around the globe. There will be winners and losers. The effects of climate change – and what it could cost investors – will vary significantly around the world.
Garth Heutel, Givi Melkadze & Stefano Carattini via The Conversation | In 2008, as big banks began failing across Wall Street and the housing and stock markets crashed, the nation saw how crucial financial regulation is for economic stability – and how quickly the consequences can cascade through the economy when regulators are asleep at the wheel. Today, there’s another looming economic risk: climate change. Once again, how much it harms economies will depend a lot on how financial regulators and central banks react.
The German government should make further improvements to the German Climate Change Act in the coming legislative period. This is what Karen Pittel, Director of the ifo Center for Energy, Climate, and Resources, writes in an article for ifo Schnelldienst. “Tomorrow, the EU publishes its Fit for 55 package. As a consequence, it might become necessary to revise the Climate Change Act,” Pittel says. It was only recently, in June…
Global gross domestic product will fall by 18% if no action is taken on climate change and global temperatures rise by 3.2 degrees Celsius, according to a report by Swiss reinsurer Swiss Re AG. The report was conducted by stress-testing the world’s 48 major economies, which account for 90% of global GDP, against four possible scenarios, with 18 % declines in the most pessimistic and 4 % in the most optimistic – achieving a global temperature rise of no more than 2 degrees Celsius, in line with the Paris Agreement.
Felix Haas | Partially through his role with the Bill & Melinda Gates Foundation, Gates came to learn more about the causes and effects of climate change, which was contributing to and exacerbating many of the problems he and his wife were looking to remedy. In his latest book, Bill Gates has done what many political leaders have not: clearly defined and communicated a roadmap that leads us to a net-zero carbon future.
Today is the International Day against Climate Change. Schroders analyzes how the Covid-19 crisis has influenced this phenomenon. The conclusion is that, despite the fact that confinements have reduced greenhouse gas emissions, the forecasts for global warming are still far above the commitment made in Paris in 2015. In particular, the latest update of the Schroders Climate Progress Dashboard suggests that the current speed of climate action will increase temperatures by 3.9°C, almost twice the Paris Agreement target of 2°C.