The EU is working on integrating sustainability considerations into its financial policy framework in an effort to mobilize finance for sustainable growth. It is bringing forward the European Green Deal whilst facilitating private investment in the transition to a climate-neutral, climate-resilient and just economy.
The International Foundation Big Data and Artificial Intelligence for Human Development (iFAB) in collaboration with CMCC and Leithà, launches the European Extreme Events Climate Index (E3CI), an innovative operational service for weather induced hazard assessment and management. E3CI has the potential to revolutionize the way insurers and financial markets evaluate extreme weather-related risks in Europe. A bold step in ensuring that scientific research has tangible impacts on the real world.
The return of science as a major player in decision making processes, a new US administration that values climate action and a shift in public and private perceptions of climate change. 2021 could be a breakwater moment for planetary wellbeing.
On 11 December, after an overnight session of intense negotiations, EU leaders finally managed to iron out the creases and put together a new and ambitious EU Climate Pact. The EU is now committed to cutting its carbon emissions to 55% of 1990 levels within a decade, paving the way for net-zero emissions by 2050.
Both weigh on the health systems, both aggravate existing inequalities, both have huge economic impacts. COVID-19 and climate change are crisis that need to be tackled together, because “we do not have the luxury of taking one crisis at a time”. The 2020 Lancet Countdown Report on Health and Climate Change told by one of its authors.
In a world where organizers are having to re-think in-person meetings, the UN Climate Dialogues seek to bring Parties and stakeholders together in new and innovative ways so as to build momentum for upcoming climate negotiations. Hidden in this challenge is a new opportunity: “Digitalising climate summits can represent a first step towards a more inclusive and accessible model of cooperation on climate change”, explains CMCC researcher Elisa Calliari.
A low carbon world is being shaped, and the private sector is in the spotlight. While the pandemic is teaching the importance of getting prepared to future risks, the big actors of the financial system are refining the criteria for the allocation of capital to get safe from the coming challenges. For businesses, keeping up with the change is not a matter of reputation anymore. Dealing with climate change is now about financial survival.
Since the industrial revolution fossil fuels have propelled technological, social and economic progress. However, this has come at a substantial environmental cost. Now, with Covid-19 rocking the global economy there are signs that we may have reached a historic moment when demand for oil finally peaks and our energy paradigm shifts. Scientists and policymakers are being joined by investors who see economic opportunities in a clean energy revolution.
Results from two recent analyses suggest that implementing carbon taxes has no discernible detrimental effects on employment and GDP growth.
“Green and growth can go hand-in-hand.” These are the words of the UK’s Prime Minister Boris Johnson, who recently rolled out his ten-point plan for a greener Britain. Wind turbines, technological advancement and moving on from fossil fuels form the backbone of his plan. How will this be achieved? Will it be enough to meet the island nation’s commitment to net zero emissions by 2050?
More than 600 million people at risk. Strategies and solutions require close collaboration between policy-makers and scientists working together to focus on both the local scale and the broader picture. With some key concepts at the core of their collaboration such as multi-risk, cross-sectoral approach and systemic vision. Not to mention the paradox of “maladaptation”.
After China, it is now the turn of Japan and South Korea: are we on the brink of a domino effect?
The newly appointed Prime Minister, Yoshihide Suga, used his first Diet policy speech to promise net zero emissions by 2050. Reaching this goal will require fundamental changes and reveals a welcome shift in Japanese climate ambition. A move that was soon echoed by President Moon Jae-in who also formally committed to lead South Korea to net zero emissions by 2050.
