The Grantham Research Institute at 10 Analysis, Engagement, Leadership GRANTHAM RESEARCH INSTITUTE at 10 ANALYSIS, ENGAGEMENT, LEADERSHIP
Total Page:16
File Type:pdf, Size:1020Kb
The Grantham Research Institute at 10 Analysis, engagement, leadership GRANTHAM RESEARCH INSTITUTE AT 10 ANALYSIS, ENGAGEMENT, LEADERSHIP Foreword Welcome to the celebration of 10 years will enable people across the globe to of the Grantham Research Institute on meet the challenges of climate change, Climate Change and the Environment, from transitioning to a new era of here at the London School of Economics low-carbon development to building and Political Science. resilience in those already being LSE was founded with a mission affected by its impacts. of undertaking research ‘for the On behalf of the School, I extend betterment of society’. Over one our deep gratitude to the Grantham hundred years later, the Grantham Foundation for the Protection of Research Institute stands as an the Environment, which has been embodiment of the very best of that instrumental in providing support mission, bringing together researchers for establishing the Institute and and students from across the School for the contributions it has made, in common pursuit of solutions to as detailed in these pages. The School environmental challenges. also gratefully acknowledges the In particular, during a period funding from the Economic and Social when climate change has grown in Research Council, which has enabled international consciousness into one the work of the Centre for Climate of the most pressing challenges of Change Economics and Policy, jointly our age, the Institute has established hosted by the Institute at LSE and the a national and international reputation University of Leeds. for research which has contributed As the environmental challenges to a global debate on how humanity facing our world continue to grow in can respond. complexity, so too grows the need for As the following pages demonstrate, policy-relevant research that provides the Institute’s team has engaged on pathways to solutions. I hope that every front of this debate, from the in exploring the contribution the very highest level of international Grantham Research Institute has policymaking to regular engagement made over the last decade you too with decision-makers across will recognise the value of supporting national governments, parliaments, such active and relevant research. international agencies and civil society. Their ongoing aim is to bring the Dame Minouche Shafik benefits of their insights to bear Director, London School of Economics on decisions being made now which and Political Science GRANTHAM RESEARCH INSTITUTE AT 10 ANALYSIS, ENGAGEMENT, LEADERSHIP Introduction Contents of action to match the scale and 2 Supporting a global urgency of the challenges the world agreement: to Paris faces. Research and policy analysis and beyond now need to focus on how to create 4 Engaging with and exploit the opportunities that multilateral institutions sustainable development and the low-carbon transition are generating, 5 Contributing to carbon particularly for strong and inclusive market reform growth across the global economy. 6 Exploring corporate Our understanding has developed climate risk: the a great deal over the past decade, Transition Pathway but we still have much more to learn. Initiative Since its beginnings in 2008, the The low-carbon transition will Grantham Research Institute has require a deepening of international 8 Equipping contributed to a transformation in collaboration, building on the spirit of parliamentarians the way action on climate change is mutual understanding that has already worldwide with climate understood around the world – evolving fostered so much progress, with greater legislation and litigation from narrow cost–benefit calculations investment in innovation, technology knowledge to much broader and stronger analyses development and infrastructure. Key 10 Contributing to the and insights into the relationship to this is enlightened and credible changing Chinese debate between the low-carbon transition and policymaking. on climate change economic growth and development. The low-carbon transition offers the The Institute has been established only realistic path towards sustainable 12 Building resilience to on the principles of rigorous, robust and and inclusive growth. Rich countries climate change impacts independent research and analysis, and must support the world’s poor countries in developing countries engagement with the public, private and to make the transition to low-carbon 12 Working with the private third sectors, to promote well informed growth and to build their resilience to sector: Climate risks decision-making about environmental those impacts of climate change that and opportunities in problems, particularly climate change. cannot now be avoided. insurance As the following pages show, the The Grantham Research Institute is Institute has been engaged with a global institute with an international 14 Advising on emissions decision-making on the global, regional outlook, addressing the biggest reductions and climate and national scales. Our work has environmental challenges facing the risk management ranged from helping the international world. We seek to provide opportunities 16 Communicating climate negotiators to achieve the 2015 Paris for researchers worldwide and from change risks Agreement on climate change, to across many disciplines to work together contributing evidence to the reform of to create new ideas and insights. As 18 World-class research, the EU emissions trading system; and we look forward to the next 10 years, academic impact from identifying potential improvements we hope to forge new partnerships and events in flood risk management for the UK, and build further relationships with 20 10 minutes on 10 years to working with partners in Sub-Saharan those who share our vision of a world in with… Judith Rees Africa to improve the use of climate which climate change and other global information in making decisions about environmental challenges are managed 22 Supporting career development and building resilience. effectively to promote prosperity and progression A global agenda has been created over wellbeing for all. 24 A last word from… the past few years, primarily through the Jeremy Grantham CBE Paris Agreement and the United Nations Professor Lord Nicholas Stern, Chair Sustainable Development Goals. The Professor Dame Judith Rees, Vice-chair 25 A ‘thank you’ from next 10 years will require acceleration Professor Sam Fankhauser, Director the Institute 1 GRANTHAM RESEARCH INSTITUTE AT 10 SUPPORTING INTERNATIONAL ACTION Supporting a global agreement: to Paris and beyond gap between the collective emissions reductions resulting from national plans and the projected emission pathways needed to limit global warming to no more than 2°C. The resultant report focused the attention of negotiators on the importance of increasing the ambition of emissions cuts by 2020. Reframing the arguments for low-carbon growth Despite intensive efforts, the Copenhagen summit failed to achieve a full consensus between all countries. According to Professor Stern, the Nicholas Stern (left) welcomes the signing of the Paris Agreement, with Al Gore and Ségolène Royal UNFCCC principle of ‘common but differentiated responsibility’ had Building a global consensus on and representatives of Hillary Clinton, become a significant stumbling block collective climate change action then Secretary of State of the United in reaching meaningful international has been a central aim of the States, on the contentious question agreement. He challenged the international climate negotiations of how much financial support rich prevailing narrative that low-carbon since the United Nations Framework countries should provide for developing growth would only entail significant Convention on Climate Change nations’ transition to low-carbon costs that would need to be shouldered (UNFCCC) was agreed in 1992. growth and increases in their resilience mainly by industrialised nations, Through its research and analysis to climate change impacts. The United and highlighted the major economic the Grantham Research Institute States eventually agreed that rich benefits, especially for developing has contributed to the negotiation countries should provide US$100 billion countries, that were being overlooked. process, helping to transform the narrative around climate action “The Institute’s research challenged the prevailing narrative from one of burdens to be shouldered that low-carbon growth would only entail significant costs mainly by rich countries, towards that would need to be shouldered mainly by industrialised one of shared opportunities, fostered by an atmosphere of collaborative nations, and highlighted the major economic benefits internationalism. that were being overlooked.” Securing international agreement a year, from both public and private Governments and citizens needed on climate change has been a long sources, by 2020 to support developing to recognise the economic benefits and difficult process, but one that countries. This commitment was of a low-carbon transition beyond the Institute has been dedicated included in the Copenhagen Accord, the avoided damage from climate to supporting. In the run-up to the and endorsed by all countries in the change impacts. Professor Stern Copenhagen climate change summit Cancún Agreements a year later. and Institute colleagues worked with in 2009, the Institute’s chair, Nicholas Ahead of the Copenhagen summit, partners across the world to increase Stern, collaborated closely with Meles the Institute, with