Climate change is a major political and economic challenge. This paper sketches out its relevance for the financial sector. Necessary low-carbon investments imply a significant yet manageable financing gap. Beyond capital mobilisation that has attracted most attention until now, the main challenge is ensuring a transition-consistent capital reallocation.
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Despite a relatively good performance on several points compared to other countries, there is still scope for improving the effectiveness of Israel’s taxation policy from an environmental perspective.
The IEA is pleased to announce the second event in its new distinguished speaker series, Big IdEAs, which brings global leaders and decision makers to the IEA to share their views on a range of global issues. On Friday 29 January starting at 11h30, Professor Sir David King, the UK Foreign Secretary’s Special Representative for Climate Change, will speak on "Towards decarbonising the global economy".
Outdoor air pollution is a major determinant of health worldwide. The objective of this paper is to inform the development of improved estimates of the social costs of human morbidity impacts resulting from outdoor air pollution in two components; namely to develop a core set of pollutant-health end-points to be covered when estimating the costs of morbidity, and to review current estimates of the cost of morbidity from air pollution.
Given the years of preparation – and for some OECD colleagues, a life’s work – my hope was for an enduring, ambitious text, helping us to avoid climate catastrophe. My expectation was far less grand, more closely aligned to the reality of getting 195 countries to adopt an agreement with legal force.
Climate change is expected to increase the frequency and magnitude of extreme weather events, notably of droughts and floods to which the agriculture sector is particularly exposed. While agricultural productivity growth and policy development have allowed to better cope with these risks and reduce overall impacts on the sector and commodity markets, there is substantial room to improve policy responses and co-ordinate across policy domains, including with respect to water rights and allocation, weather and hydrological information, innovation and education, and insurance and compensation schemes. Indeed, drought and flood risks are likely to become a major policy concern as increasing population will increase the demand for food, feed, fibre, and energy, not to mention the competition for water resources, and urbanisation will increase the demand for flood protection and mitigation, raising the issue of the allocation of flood risks across sectors and areas.
In order to help address climate finance-related information needs under the UNFCCC, this paper explores the extent to which currently-available secondary data make it possible to estimate private finance mobilised by developed countries for climate action in developing countries.
With the world welcoming the new comprehensive global climate agreement at COP21 aiming to limit the global average temperature rise to well below 2 degrees Celsius, it is worth noting the significant contribution that the OECD family has made. These contributions were aptly summarized in a useful joint statement by the secretariats of OECD, IEA, International Transport Forum and Nuclear Energy Agency right after COP21 kicked off.
This is a watershed day for the world and especially heartening for the OECD as one of the first international bodies to call for zero net emissions in the second half of the century, for a price on carbon and for greater efforts to channel finance into the low carbon economy.
World leaders faced a fundamental dilemma: take strong action to address the risks associated with climate change, or see the ability to limit this threat slip from their grasp. Check out how the OECD contributed to get a successful outcome on 12 December at COP21 in Paris.