Americans’ Global Warming Beliefs and Attitudes

This report presents results from a national study of what Americans understand about how the climate system works, and the causes, impacts, and potential solutions to global warming. Among other findings, the study identifies a number of important gaps in public knowledge and common misconceptions about climate change. Educational levels: Graduate or professional, Undergraduate upper division, Undergraduate lower division, General public

Global climate action – June update: Australia has catching up to do and global capital moving

In the lead-up to the Paris climate talks in November, countries continue to advance their domestic climate and clean energy efforts and developing their post-2020 emission reduction targets. This June update highlights and summarises: The initial targets of Australia\u27s international peers Will Australia catch up to and even match our peers? Meeting the less then 2ºC goal Domestic policy developments in May Developments in the financial sector in Ma

What “progression” means for Australia’s post 2020 targets

Outlines why progression should be interpreted as increased ambition not just in terms of absolute emission reductions, but also in the rate of emission reductions. In other words, countries’ targets should not just increase the amount of emissions reduced, but the speed at which this takes place. The Climate Change Authority is due to release a draft report on future emissions reductions targets next month. This research brief highlights a key aspect of The Climate Institute’s submission

Going for zero: state decarbonisation strategies for prosperity in a zero-emission world

This paper explains why states should have a decarbonisation strategy and explores some key policy elements. Abstract Across the world, governments at all levels are implementing policies to reduce carbon emissions, address local air pollution, improve energy productivity, grow new industries and address energy security concerns. While these initiatives are as yet insufficient to avoid dangerous climate change or achieve the internationally agreed goal of avoiding 2°C warming above pre-industrial levels, the trend is clear. What is also clear is the ultimate destination or strategic objective that these policies need to have: the progressive phase-out of emissions to reach net zero levels, or ‘decarbonisation’. The OECD, World Bank and latest IPCC report have warned that avoiding irreversible and severe climate change impacts will require the global economy to be decarbonised before the end of the century. This requires energy systems, particularly electricity, to decarbonise well before then. Private sector actors are also moving forward. Leading multinational business groups and corporate leaders have called for action to achieve net zero global emissions by 2050. The financial sector is increasingly aware of the risks of ‘stranded assets’ resulting from both global decarbonisation efforts and the physical impacts of climate change. In Australia recent political and policy turmoil saw state governments retreat from many past climate policy initiatives. However some governments are now reconsidering their position and the risks posed to their economies and communities should they be left behind by this global trend toward decarbonisation. This paper explains why states should have a decarbonisation strategy and explores these key policy elements: Setting binding emission limits on major emitting facilities Incorporating carbon considerations into policy and planning processes Using procurement and management policies to help build markets for lower emission goods and services Continuing to develop and link energy efficiency policy frameworks Providing assistance: funding, technical, regulatory, trainin

Thirsty country: climate change and drought in Australia

This report argues that climate change is likely making drought worse in the southeast and southwest of Australia, which are some of our most populous regions. Introduction Drought has deeply affected Australia throughout its history. The Millennium Drought from 1996-2010 serves as a recent reminder of the wide-reaching impacts that drought can have on Australia’s people and environment. Australia is the driest inhabited continent on Earth and drought is an important feature of Australia’s climate. Whilst Australians have always lived with drought and its consequences, it is likely that climate change is making drought worse in the southeast and southwest, some of our most populous regions. We begin this report by describing what a drought is, before considering its consequences for health, the economy, ecosystems and urban water supplies. We then outline the changing drought conditions and increasing drying trends in Australia and explore recent dry conditions in various parts of the country. We conclude by exploring how climate change is influencing drought conditions in the southeast and southwest of the continent as well as drying trends globally

Pace Energy & Climate Center 2016 Annual Report

The Center staff and many allies are deeply involved in the business of electric utility transformation. We live and work in a remarkable time. Decades of steady, thoughtful leadership on clean energy issues is now bearing fruit. Clean energy is not just the right thing to do, it is increasingly recognized as the right choice economically, technically, and for all members of society. Our work, especially in 2016, has been about making sure that we seize the moment and secure the benefits of clean energy use for all communities in New York, the Northeast U.S., across the country, and throughout the world. Never has it been more important that we succeed in our work. The challenges of climate change, the changing path of policy, and the moral imperative of building a clean energy foundation for future generations drive us every day. While we don’t work actively in Washington, D.C., changes there threaten our work. The Center focuses on waging a strong offense at the state and community level, and on effectively communicating the benefits of clean energy development and policy. In 2016, we answered the call for clear-eyed policy leadership in the many New York Public Service Commission’s (“NYPSC”) Reforming the Energy Vision (“REV”) initiative proceedings under way. Our work multiplied as the Commission transitioned from vision to implementation and execution, and so did our impact. See the Appendix for the active NY PSC proceedings in which the Center is engaged! The Center continued its regional leadership as a champion of super-efficient combined heat and power, strong solar energy market policy, and interstate cooperation to reduce greenhouse gas emissions. We expand the reach of our ideas and support through formal regulatory interventions, thought leadership, and good old-fashioned research and writing. The Pace Energy and Climate Center continues to operate as a small, agile, interdisciplinary team of talented and committed individuals, and continues to benefit from the support of the best law student interns anywhere. Our network of collaborators at other organizations has grown over the year, as has our reputation in the media

Pace Energy and Climate Center 2015 Annual Report

In 2015, Pace Energy and Climate Center continued a 27-year tradition of successfully advancing clean energy policies and solutions in communities across the State of New York and the Northeast region, across the United States, and around the world. As a unique organization that operates at the boundaries between law, policy, business, and regulation, we continue to bring innovative thinking, strong analysis, technological understanding, and stakeholder engagement to the vital climate and energy challenges facing us today. We have been pleased to become a key player in the New York Public Service Commission’s Reforming the Energy Vision (“REV”) initiative. REV seeks to devolve the electric utility of the future to accommodate new renewable and distributed energy resources, improve resiliency, and avoid significant increases in customer bills. We operate with a small staff of highly capable experts, multiplied by the commitment and energy of student interns, and leveraged through a community of clean energy stakeholders. Pace identifies and understands the issues, crafts the solutions and improvements needed, and uses the tools of law and policy advocacy to change the way things are done—for the better. In 2015, we continued and strengthened program efforts in many areas, expanded our reach an influence into new areas, and scored important victories in ensuring that clean, efficient, and renewable energy would be an increasing part of our lives, today and tomorrow. Facing the challenges of climate change up close, we design and implement solutions at the same scale—at the level of state and local policy and action—that will empower and support community initiatives wherever Pace works. All our work is made possible by the generous support of our funders and the continued commitment of Dean David Yassky, the staff and faculty of the Pace Law School, and the entire Pace University team. Standing behind them is a strong network of Pace alumni and donors who help keep us all going. We couldn’t do it without each of them

Global Climate Action – May Update:

The Climate Institute\u27s May update on the most recent developmentson new targets and other policies. Overview In the lead-up to the Paris climate talks in November, countries are advancing their domestic climate and clean energy efforts and developing their post-2020 emission reduction targets. This is The Climate Institute\u27s May update on the most recent developmentson new targets and other policies. As Australia continues to mull over its post-2020  emissions reductions target, a number of countries and now state governments have started to ramp up their  action to limit pollution. Many major countries announced their initial targets  earlier, but April saw important announcements from  the governments of California and Ontario, as well as  Japan. California has announced it will aim to reduce emissions by 40 per cent below 1990 levels by 2030 as part of its contribution to avoiding a 2°C increase in global temperature. If Australia were to match California’s target it would need to aim for pollution reductions of around 30 per cent below 2000 levels by 2025 (see more below). Ontario in Canada announced that it will implement an economy-wide cap and trade system, which will link with the similar systems in Quebec and California. Among the less rosy announcements was Japan’s draft post-2020 target of 26 per cent reduction below 2013 levels by 2030 (or 25.4 per cent below 2005 levels). This target would leave Japan on the sidelines of serious international action and clean technology investment

Australian Climate Roundtable: joint principles for climate policy

This document sets out principles to guide the development of sound long term policy to address climate change. These principles reflect extensive discussions between the diverse organisations participating in the Australian Climate Roundtable, encompassing business groups, unions, institutional investors, environmental groups, research organisations and social policy organisations. The principles address the goals of climate change policy and the ideal characteristics of policies to meet the goals. The principles spring from the considerable common ground between the existing policy approaches of each group, and have been revised and clarified to ensure that they cover areas of essential need and joint agreement. Each organisation maintains their own existing policy priorities, with which they have judged these principles to be compatible. The following organisations have agreed to the joint principles: Australian Aluminium Council Australian Conservation Foundation Australian Council of Social Service Australian Council of Trade Unions Australian Industry Group Business Council of Australia Energy Supply Association of Australia Investor Group on Climate Change The Climate Institute WWF Australia The Australian Climate Roundtable, is an alliance of major business, union, research, environment, investor and social groups that has come together to put the climate policy debate on common ground and offer a way forward. Our broad coalition has come together because climate change and climate policy both impact our missions and members. We believe Australia should play its fair part in global efforts to avoid 2°C and the serious economic, social and environmental impacts that unconstrained climate change would have on Australia. Avoiding unconstrained climate change will provide important benefits and opportunities to Australia. &nbsp

Climate risk assessment of the sovereign bond portfolio of European Insurers

In the first collaboration between climate economists, climate financial risk modellers and financial regulators, we apply the CLIMAFIN framework described in Battiston at al. (2019) to provide a forward-looking climate transition risk assessment of the sovereign bonds’ portfolios of solo insurance companies in Europe. We consider a scenario of a disorderly introduction of climate policies that cannot be fully anticipated and priced in by investors. First, we analyse the shock on the market share and profitability of carbon-intensive and low-carbon activities under climate transition risk scenarios. Second, we define the climate risk management strategy under uncertainty for a risk averse investor that aims to minimise her largest losses. Third, we price the climate policies scenarios in the probability of default of the individual sovereign bonds and in the bonds’ climate spread. Finally, we estimate the largest gains/losses on the insurance companies’ portfolios conditioned to the climate scenarios. We find that the potential impact of a disorderly transition to low-carbon economy on insurers portfolios of sovereign bonds is moderate in terms of its magnitude. However, it is non-negligible in several scenarios. Thus, it should be regularly monitored and assessed given the importance of sovereign bonds in insurers’ investment portfolios