1) Carbon Efficient Investing in Emerging Marketsas a Tool to Combat Global Warming S&P
2) Investing in Climate Change 2009: Necessity and opportunity in turbulent times
DB Advisors – Deutsche Bank Group
An examination into why climate change is well-suited for public equity markets and particularly private markets such as venture capital, private equity, infrastructure and timberland. The publication also looks at some of the technical aspects of how regulation interacts with the underlying dynamics of technology costs and energy prices. This compendium provides an analytical framework that investors can use to understand the climate change opportunity.
3) Gathering momentum: Climate-change investing moves into the next phase
HSBC Global Research
Climate-related investment potential is broader and deeper than expected even a year ago. The positive scientific, business and policy momentum of 2007, however, is now exposed to the realpolitik of negotiations and macroeconomic shocks. This report examines the drivers of and prospects for the underlying themes of the HSBC Climate Change family of indices.
4) Philanthropy’s New Passing Gear: Mission-Related Investing, A Policy and Implementation Guide for Foundation Trustees
Rockefeller Philanthropy Advisors
A comprehensive, practical guide that translates the concepts, ideas and philosophy of Mission-Related Investing (MRI) into useable policies and practices for foundation trustees. The publication includes 12 case studies that reflect the diversity of approaches used by organizations currently practicing MRI and contains tools and templates for creating and executing strategies.
5) Guide To Climate Change Investment
Holden & Partners
This guide shows you how to participate in, and benefit from, investment flows into environmental markets. It demonstrates how being part of this market contributes to being part of solution to climate change.
6) Regulation, Markets, and Investments: The Emergence of Carbon Finance
Yale School of Forestry & Environmental Studies
A Pot of Gold for Renewable Energy? Funding Renewable Energy with Carbon Finance
7) Climate Change & the Financial Sector: An Agenda for Action
Allianz Group and WWF, June 2005
Climates have always been changing. But this time there is one big difference: the changes are principally man-made. The issue has become urgent because the pace of change is accelerating. This report identifies actions for advisers, clients, co-financiers and policymakers.
8) Change is coming: A framework for climate change – a defining issue of the 21st century.
Goldman Sachs, August 2009 GS SUSTAIN presentation
Recent World Bank/UN Publications:
1) “Revenue management” effects related to financial flows generated by climate policy Selected low-income countries are likely to benefit from increased access to “carbon finance” but as control mechanisms expand, the consequences may strain the capacity of many countries to adjust.
2) Low-Carbon Growth: How to Make the Most of Public Finance. This background report highlights examples of how MDAs have been successfully leveraging climate finance in the development context by innovating, demonstrating and catalyzing transformation.
3) A Changing Climate for Development Climate change complicates efforts to reduce poverty in developing countries, but a “climate smart” world is possible if we act now, act together, and act differently, says new World Development Report . More: “Climate Thinkers” vignettes | WDR slideshow | More Video Clips
4) The Wrath of God: Macroeconomic Costs of Natural Disasters. A new World Bank study estimating the macroeconomic costs of the increased incidence of natural disasters finds that one of these events can reduce real GDP per capita by at least 0.6 percent.
5) Podcast: What is Carbon Finance? On the eve of the UN climate conference in Copenhagen in December, delegates from 120 countries gathered recently at Carbon Expo in Barcelona to discuss potential growth of the carbon market as an effective measure to combat climate change by reducing emissions. We hear a lot about Carbon market and carbon finance. But most of us do not quite understand what this is all about. Joëlle Chassard, manager of the carbon finance unit of the World Bank sheds some light on the subject.
6)Fiduciary Duty
Sustainable Investing: The Art of Long-Term Importance
A redefinition of fiduciary duty for the era of climate change, and a discussion of the role of sustainable investing in meeting the challenge.
Even amid financial crisis, the carbon market still boomed.
The World Bank’s State and Trends of the Carbon Market Report 2009 reveals the market doubled to $126 billion.
Not as welcome is the news that the value of transactions financing actual project-based emission reductions fell 12 percent to an estimated $6.5 billion in 2008.
The drop was the result of a complex set of factors related to difficulty obtaining financing for climate-friendly projects during the financial crisis, regulatory delays and uncertainty surrounding the future of the market under a new global climate change agreement expected to take effect in 2012.
As delegates from 120 countries gathered at Carbon Expo 2009 in Barcelona last week, discussions focused on potential growth in both the carbon market and on-the-ground measures to combat climate change.
Proposed climate change legislation in the United States is seen as having a potentially large impact on carbon markets—voluntary and official—around the world.
In addition, the European Union recently approved a package of post-2012 commitments to reduce emissions, with a promise to reduce even more if other countries join an international agreement to be negotiated in Copenhagen later this year.
“Innovative financing in the fight against climate change is needed now, more than ever, if we are to confront what has emerged as the major threat to the development priorities of the poorest countries and communities,” says Joëlle Chassard, manager of the World Bank’s Carbon Finance Unit.
The Intergovernmental Panel on Climate Change (IPCC) estimates global CO2 emissions must drop to less than 10 billion tons per year by 2050 to stave off potentially catastrophic environmental impacts expected to affect developing countries disproportionally. Annual emissions by Annex 1 countries alone currently stand at about 20 million tons.
The Stern Report published in 2006 estimates that carbon finance has the potential to account for 25 percent of the actions needed to stabilize emissions. Carbon finance could be used strategically to foster larger-scale, long-term low-carbon development.
The effort now—and under a post-2012 global climate change agreement—needs to be scaled up from “individual projects to sector-wide, programmatic interventions, like energy efficiency, transportation and creating urban carbon assets,” says Kathy Sierra, World Bank Vice President for Sustainable Development.
Next Step: Catalyzing Larger-Scale Investments
Sierra says the World Bank is working to deepen the reach of the carbon market with two new facilities.
The Forest Carbon Partnership Facility aims to reduce deforestation—the second-leading cause of greenhouse gas emissions—through incentives and compensation for leaving forests standing.
The Bank established theCarbon Partnership Facility to catalyze large-scale, long-term investments in clean technology programs that will help developing countries move to lower-carbon development paths.
The facility’s business model takes into account the large-scale, potentially risky investments with long lead times that require durable partnerships between buyers and sellers, possibly spanning several market cycles.
The Bank says the facility could grow to several billion dollars over time and will operate beyond 2020—allowing carbon finance to be integrated more closely with national development strategies and policies.
According to Sierra: “As one response to the climate crisis, a deep and global carbon market continues to hold the promise to deliver significant benefits to both developed and developing countries alike.”
Source: Worldbank
The Senate majority leader is shelving efforts to include cap-and-trade as part of a energy bill, dealing a blow to one of President Obama’s major priorities. Joe White discusses. Also, Amy Chozick discusses why cable TV channels are betting big on expensive epics in an effort to drive interest and, most importantly, to bring in overseas revenues.
As the White House continues to promote energy efficiency as a key component to solving the energy crisis, politicians and business leaders consider commercial buildings prime candidates for efficiency savings. Clean Skies News’ Susan McGinnis takes a look at “green” building and tours a building that’s won top-level recognition for energy efficiency.
Nobuo Tanaka, Executive Director of the International Energy Agency, tells Clean Skies News that government policies and the use of new technologies are actively changing the big picture in the energy sector, but they need to be accelerated.
The U.S. has debated for decades the issue of offshore drilling, with the backlash largely sparked in 1969 by a major spill off the coast of Santa Barbara. Journalist and science writer Eric Roston and Kenneth Medlock, fellow at the Baker Institute, provide insight.
Joe Romm, Senior Fellow for the Center for American Progress Action Fund, discusses his new book, “Straight Up: America’s Fiercest Climate Blogger Takes on the Status Quo, Media, Politicians, and Clean Energy Solutions.”
On the program: – UN chief Ban Ki-moon sets up a high-level advisory panel to jump start financing for developing nations to battle climate change. – President Obama releases his Economic Report… Inside: a plan for a clean energy future. – State energy regulators will soon tell the feds what they want from Washington. The [...]