The Pathway to a Green New Deal: Synthesizing Transdisciplinary Literatures and Activist Frameworks to Achieve a Just Energy Transition
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Shadow Price of Carbon in Economic Analysis Guidance Note
Guidance note on shadow price of carbon in economic analysis Nov 12, 2017 Shadow price of carbon in economic analysis Guidance note This guidance note is intended to help World Bank staff value carbon emissions in economic analysis of investment project financing. The economic analysis is requested under Operational Policy and Bank Procedure (OP/BP) 10.00. The guidance provided in this note aims to enhance the economic analysis by using the shadow price of carbon for applicable projects. It replaces the 2014 “Social Value of Carbon in Project Appraisal Guidance Note”. The note will be updated and complemented from time to time, based on new knowledge and feedback from teams. Applicability The use of shadow price of carbon in the economic analysis is a corporate commitment1 for all IBRD/IDA investment project financing that are subject to GHG accounting. GHG accounting is undertaken for IBRD/IDA investment lending projects in Global Practices with Bank approved GHG accounting methodologies. Projects that are not subject to GHG accounting do not have to use the shadow price of carbon in the economic analysis.2 The corporate commitment to apply shadow price of carbon in economic analysis is effective for projects with concept notes approved on or after July 1, 2017. Projects that are not subject to GHG accounting are invited to use shadow price of carbon in the economic analysis, on a voluntary basis. Background In 2015, the world came together and agreed to limit global warming to less than 2ºC by 2100, and make best efforts to limit warming to 1.5ºC. -
Climate Justice
Ed Maurer & Chad Raphael CLIMATE JUSTICE 1 Fostering community-driven research for social and environmental justice www.scu.edu/ej community-driven research for ● Environmental Justice ● Climate Justice ● Example Research Project - Nicaragua ● Discuss Just Transition Principles and Strategies ENVIRONMENTAL JUSTICE (EJ) Civil Rights Farmworkers Indigenous Anti-Toxics Rights of all people to healthy and livable communities, now and in the future community- driven community- community- community- researchUrban for Public Occ. Safety & Anti- driven driven driven Planning Health Health Colonialism research for research for research for community-driven research for community- community- driven driven research for research for community- driven research for ENVIRONMENTAL JUSTICE (EJ) The environment is everywhere we live, work, play, and pray community-driven research for ENVIRONMENTAL JUSTICE (EJ) Fair distribution of environmental burdens and benefits ENVIRONMENTAL JUSTICE (EJ) Full recognition of individual dignity and group rights, including equitable protection against environmental harms through law, regulation, and enforcement ENVIRONMENTAL JUSTICE (EJ) Meaningful participation in environmental decision making by all who are affected, including historically excluded groups, and consideration of future generations CLIMATE JUSTICE Paris Climate Accord (2015) Reparations from largest GHG emitters to most vulnerable communities for climate adaptation and mitigation CLIMATE JUSTICE Participation and self-determination by vulnerable and excluded -
Greening Recovery Efforts for People, Planet and Prosperity
Greening Recovery Efforts for People, Planet and Prosperity UN Development Group Task Team on the Socio-Economic Response to the Covid-19 Pandemic 9 April 2021 1. Why a Green Recovery? 2. A Future Possible - Country Examples 3. Navigating Forward - possible UN Responses 2 Overview of a ‘Once in a Generation’ Crisis 3 Source - World Bank Why a Green Recovery? • Spending on clean energy has an impact on GDP that is about 2x – 7x stronger—than spending on non-eco- friendly energy. (IMF, 2021) • Investing in nature conservation has multipliers of up to 7x over five years. Spending to support unsustainable land uses has negative returns. (IMF, 2021) • investments in renewable energies, building efficiency and green transport would add 20.5 million jobs by 2030, compared to 3 million jobs under BAU (ILO) • Green R&D spending has high growth and positive climate/nature/pollution multipliers. Source: Hepburn et al. 2020 4 Global Green Recovery Response to Date USD 14.6 trillion (excl. EC) USD 1.9 trillion USD 341 billion 5 Source - UNEP-Oxford Smith School, 2021 // *data for 2020 - does not cover spending announced in 2021 Global Green Recovery Response to Date … Green recovery spending as a percentage of total Total debt stock for 19 EMDE countries over time recovery spending, versus recovery spending as % GDP (AE spending 17x higher than EMDE spending) Source - UNEP-Oxford Smith School, 2021 // *data 6 for 2020 - does not cover spending announced in 2021 …and limited options for many with looming debt vulnerability Source: UNDP, April 2021. Sovereign 7 Debt Vulnerabilities in Developing Economies A Future Possible - Country Examples The Self Starters Some Green Recovery Examples GREEN ENERGY Argentina – USD 390K to finance the incorporation of renewable energy into the fishery industry Colombia – USD 4.3 million funding for 27 strategic renewable energy and transmissions projects, including the generation of 55 thousand jobs, include 9 wind, 5 solar, 3 geothermal and one hydrogenation, as well as 9 energy transmission lines. -
A Green Economic Recovery: Global Trends and Lessons for the United States
A Green Economic Recovery: Global Trends and Lessons for the United States Jonas Nahm Assistant Professor for Energy, Resources, and Environment School of Advanced International Studies Johns Hopkins University Statement before the House Foreign Affairs Committee Subcommittee on Europe, Eurasia, Energy, and the Environment Hearing on Green Recovery Plans for the COVID-19 Crisis The economic recession caused by efforts to contain the global Covid-19 pandemic has, in the short- term, led to a drop of global greenhouse gas emissions. Yet three factors caution against optimism that the economic recession could trigger substantial shifts toward long-term decarbonization. First, emissions reductions during the current economic recession have been small and are unlikely to have a lasting impact on efforts to reduce greenhouse gas emissions. Past recessions have been followed by rapid increases in emissions that have offset much of the downturn and the 2020 recession has begun to follow a similar pattern. Second, while economic stimulus spending in the recovery offers an opportunity to invest in long-term climate policies that also create jobs and deploy capital in the economy, G20 economies have thus far spent far less on programs with environmental co-benefits than in the aftermath of the 2009 recession. Third, the Covid-19 pandemic has further strained economic and political relationships with China, a key producer of technologies urgently needed to reduce greenhouse gas emissions in the global economy. This is detrimental to short-term efforts to address the global climate crisis. The United States is uniquely equipped to be at the global frontier of clean energy technology innovation. -
Personal Carbon Allowances Revisited
PERSPECTIVE https://doi.org/10.1038/s41893-021-00756-w Personal carbon allowances revisited Francesco Fuso Nerini 1 ✉ , Tina Fawcett2, Yael Parag 3 and Paul Ekins4 Here we discuss how personal carbon allowances (PCAs) could play a role in achieving ambitious climate mitigation targets. We argue that recent advances in AI for sustainable development, together with the need for a low-carbon recovery from the COVID-19 crisis, open a new window of opportunity for PCAs. Furthermore, we present design principles based on the Sustainable Development Goals for the future adoption of PCAs. We conclude that PCAs could be trialled in selected climate-conscious technologically advanced countries, mindful of potential issues around integration into the current policy mix, privacy concerns and distributional impacts. limate change could undermine the achievement of at were proposed to be sold by individuals via banks and post offices to least 72 Targets across the Sustainable Development Goals fossil fuel companies11. In California, household carbon trading was C(SDGs)1. The development of a just and equitable transition proposed for household energy, and managed by the utilities12. In to a net-zero society is vital to avoiding the worst impacts of climate France, centrally managed tradable transport carbon permits were change1. However, by May 2021, Climate Action Tracker2 estimated assessed related to private transport13. Scholars from the University that climate policies implemented across the world at present, of Groningen have proposed European Union (EU)-wide emis- including the effect of the pandemic, will lead to a temperature rise sions trading for households and transport, embedded in the EU of 2.9 °C by the end of the century. -
The Political Economy of the Just Transition
bs_bs_banner The Geographical Journal, 2013, doi: 10.1111/geoj.12008 The political economy of the ‘just transition’ PETER NEWELL* AND DUSTIN MULVANEY† *Department of International Relations, School of Global Studies, University of Sussex, Brighton BN1 9SN E-mail: [email protected] †San Jose State University, 1 Washington Square, San Jose, CA 95112, USA E-mail: [email protected] This paper was accepted for publication in November 2012 This paper explores the political economy of the ‘just transition’ to a low carbon economy. The idea of a ‘just transition’ increasingly features in policy and political discourse and appeals to the need to ensure that efforts to steer society towards a lower carbon future are underpinned by attention to issues of equity and justice: to those currently without access to reliable energy supplies and living in energy poverty and to those whose livelihoods are affected by and dependent on a fossil fuel economy. To complicate things further this transition has to be made compatible with the pursuit of ‘climate justice’ to current and future generations exposed to the social and ecological disruptions produced by increasing concentrations of greenhouse gas emissions in the atmosphere. Here we seek to identify and analyse the immensely difficult political trade-offs that will characterise collective attempts to enact and realise a just transition. We explore procedural and distributional aspects of energy politics and practice in particular as they relate to the just transition: energy access for those who do not have it; justice for those who work within and are affected by the fossil fuel economy; and attempts to manage the potential contradictions that might flow from pursuing energy and climate justice simultaneously. -
How to Price Carbon to Reach Net-Zero Emissions in the UK
How to price carbon to reach net-zero emissions in the UK Joshua Burke, Rebecca Byrnes and Sam Fankhauser Policy report May 2019 The Centre for Climate Change Economics and Policy (CCCEP) was established in 2008 to advance public and private action on climate change through rigorous, innovative research. The Centre is hosted jointly by the University of Leeds and the London School of Economics and Political Science. It is funded by the UK Economic and Social Research Council. More information about the ESRC Centre for Climate Change Economics and Policy can be found at: www.cccep.ac.uk The Grantham Research Institute on Climate Change and the Environment was established in 2008 at the London School of Economics and Political Science. The Institute brings together international expertise on economics, as well as finance, geography, the environment, international development and political economy to establish a world-leading centre for policy-relevant research, teaching and training in climate change and the environment. It is funded by the Grantham Foundation for the Protection of the Environment, which also funds the Grantham Institute – Climate Change and the Environment at Imperial College London. More information about the Grantham Research Institute can be found at: www.lse.ac.uk/GranthamInstitute About the authors Joshua Burke is a Policy Fellow and Rebecca Byrnes a Policy Officer at the Grantham Research Institute on Climate Change and the Environment. Sam Fankhauser is the Institute’s Director and Co- Director of CCCEP. Acknowledgements This work benefitted from financial support from the Grantham Foundation for the Protection of the Environment, and from the UK Economic and Social Research Council through its support of the Centre for Climate Change Economics and Policy. -
World Scientists' Warning of a Climate Emergency
Viewpoint World Scientists’ Warning of a Climate Emergency Downloaded from https://academic.oup.com/bioscience/advance-article-abstract/doi/10.1093/biosci/biz088/5610806 by Oregon State University user on 05 November 2019 WILLIAM J. RIPPLE, CHRISTOPHER WOLF, THOMAS M. NEWSOME, PHOEBE BARNARD, WILLIAM R. MOOMAW, AND 11,258 SCIENTIST SIGNATORIES FROM 153 COUNTRIES (LIST IN SUPPLEMENTAL FILE S1) cientists have a moral obligation as actual climatic impacts (figure 2). forest loss in Brazil’s Amazon has now Sto clearly warn humanity of any We use only relevant data sets that are started to increase again (figure 1g). catastrophic threat and to “tell it like clear, understandable, systematically Consumption of solar and wind energy it is.” On the basis of this obligation collected for at least the last 5 years, has increased 373% per decade, but and the graphical indicators presented and updated at least annually. in 2018, it was still 28 times smaller below, we declare, with more than The climate crisis is closely linked to than fossil fuel consumption (com- 11,000 scientist signatories from excessive consumption of the wealthy bined gas, coal, oil; figure 1h). As around the world, clearly and unequiv- lifestyle. The most affluent countries of 2018, approximately 14.0% of ocally that planet Earth is facing a are mainly responsible for the his- global GHG emissions were covered climate emergency. torical GHG emissions and generally by carbon pricing (figure 1m), but Exactly 40 years ago, scientists from have the greatest per capita emissions the global emissions-weighted aver- 50 nations met at the First World (table S1). -
Transition to Justice: Power, Policy and Possibilities
JUST TRANSITION/ TRANSITION TO JUSTICE: POWER, POLICY AND POSSIBILITIES By J. MIJIN CHA, MANUEL PASTOR, CYNTHIA MORENO, and MATT PHILLIPS JUNE 2021 TABLE OF CONTENTS Executive Summary. 1 Introduction ............................................4 Roadmap for this Report. .5 Defining “Just Transition” ................................8 Achieving a Just Transition ..............................11 States, Power, and Policy ...............................15 California ......................................17 Kentucky .......................................23 Louisiana .......................................29 New York ......................................37 Learning From (and Across) the States ....................42 A Transition to Justice ..................................49 References ............................................51 Appendix 1: List of Interviewees .........................54 Appendix 2: Interview protocol ..........................56 JUST TRANSITION/TRANSITION TO JUSTICE: POWER, POLICY AND POSSIBLITIES EXECUTIVE SUMMARY e live in a world in transformation and transition. As we Waddress the central challenges of our time – a heating planet, an unequal economy, and persistent racial injustice – it is key to weave together our strategies to achieve a more sustainable and equitable society. One frequently described path to do so is “just transition” – a strategy to shift away from fossil fuels to a low-carbon future while protecting fossil fuel communities and workers, as well as communities who has historically suffered from -
The Paris Climate Agreement: Harbinger of a New Global Order
Swarthmore International Relations Journal Volume 3 | Issue 1 Article 1 January 2019 ISSN 2574-0113 The Paris Climate Agreement - Harbinger of a New Global Order Shana Herman,’19 Swarthmore College, [email protected] Follow this and additional works at: http://works.swarthmore.edu/swarthmoreirjournal/ Recommended Citation Herman, Shana,’19 (2019) “The Paris Climate Agreement - Harbinger of a New Global Order,” Swarthmore International Relations Journal at Swarthmore College: Vol. 1: Iss. 3, Article 1. Available at: http://works.swarthmore.edu/swarthmore/vol1/iss3/1 This article is brought to you for free and open access by Works. it has been accepted for inclusion in Swarthmore International Relations Journal at Swarthmore College by an authorized administrator or Works. For more information, please contact myworks@swarthmore The Paris Climate Agreement - Harbinger of a New Global Order Shana Herman Swarthmore College I. Introduction In recent decades, climate change has become an increasingly tangible threat to human existence on Earth. In fact, a combination of climate-related forces (e.g. natural disasters, extreme weather events, and droughts) and carbon-related forces (e.g. air pollution and asthma) already claim about five million lives annually.1 This value is only projected to increase and will account for about six million global deaths per year by 2030.2 While climate change has and will continue to disproportionately affect low-income communities, people of color, and indigenous populations, as well as poorer and smaller countries and island nations that are the least responsible for the carbon dioxide emissions that have contributed to it, climate change is indisputably a collective global crisis with shared consequences that will ultimately affect every country on Earth, regardless of affluence or military prowess.3 Recently, as the consequences of anthropogenic climate change have grown increasingly visible, countries have begun to come together to address this crisis on an international level. -
Securing Turkey's Energy Supply and Balancing the Current Account Defi Cit Through Renewable Energy. Assessing the Co-Benefi T
COBENEFITS STUDY October 2020 Securing Turkey’s energy supply and balancing the current account defi cit through renewable energy Assessing the co-benefi ts of decarbonising the power sector Executive report Koffer/ Herz COBENEFITS Study Turkey This study has been realised in the context of the project “Mobilising the Co-Benefi ts of Climate Change Mitigation through Capacity Building among Public Policy Institutions” (COBENEFITS). This project is part of the International Climate Initiative (IKI). The Federal Ministry for the Environment, Nature Conservation, and Nuclear Safety (BMU) supports this initiative on the basis of a decision adopted by the German Bundestag. The COBENEFITS project is coordinated by the Institute for Advanced Sustainability Studies (IASS, lead) in partnership with the Renewables Academy (RENAC), the Independent Institute for Environmental Issues (UfU), International Energy Transition GmbH (IET), and in Turkey the Sabanci University Istanbul Policy Center (IPC). October 2020 Editors: Héctor Rodríguez, Sebastian Helgenberger, Pınar Ertör, Laura Nagel – IASS Potsdam and Sabanci University Istanbul Policy Center IPC Technical implementation: Saeed Teimourzadeh, Gokturk Poyrazoglu, Osman Bülent Tör. EPRA – Engineering, Procurement, Research, and Analysis We acknowledge the valuable inputs and reviews of the SHURA Energy Transition Center and its Director Değer Saygın in implementing the COBENEFITS Turkey studies. Suggested citation: IASS/IPC. 2020. Securing Turkey’s energy supply and balancing the current account defi -
Putting a Price on Carbon with an ETS
Putting a Price on Carbon with an ETS Summary of Key Findings: • An ETS is an explicit carbon pricing instrument that limits or caps the allowed amount of GHG emissions and lets market forces disclose the carbon price through emitters trading emissions allowances. • 35 countries (incl. 28 in the EU) and 20 subnational jurisdictions have adopted emissions trading programs. Defining Emissions Trading Schemes (ETS) An ETS – or cap-and-trade program – is managed by a governing jurisdiction that sets a limit or a cap on the total level of covered GHG emissions – including CO2. The allowances to emit are distributed to liable entities (direct emission sources or others) that must redeem allowances for every emitted ton of CO2, with the possibility to buy additional allowances or sell unused ones. As liable entities consider the cost of their emissions within their production processes and the possibility to buy or sell allowances, a market for CO2 emerges, setting a price on CO2 that acts as a reduction incentive for all liable entities. This price influences decisions both in the short-term management of existing assets and in the longer-term direction of investments. 1 An ETS – as opposed to a tax – is a quantity-based policy, i.e., it offers certainty over the environmental outcome (i.e., “cap”) but leaves it to the market (i.e., “trade”) to set the price of carbon. ETS around the World Emissions trading was first experimented in the United States, through an amendment to the U.S Clean Air Act (1990) that introduced a market-based regulation to control sulfur dioxide emissions from coal- burning electric utility plants – the primary cause of acid rain.