scholarly journals Prospects for the development of the «green» bond market (Review)

2020 ◽  
pp. 102-114
Author(s):  
Svetlana Kodaneva ◽  
Keyword(s):  
Climate Change ◽  
Banking Sector ◽  
Bond Market ◽  
Paris Agreement ◽  
Financial Instruments ◽  
Market Review ◽  
Limited Government

In the context of limited government budgets and the capacity of the banking sector, there is a need for new financial instruments to attract investment for the implementation of the Paris Agreement on Climate Change. One of such instruments is «green» bonds. The review analyzes the reasons for the growth of the «green» bond market in different countries and the prospects for its development.

South-east Asian green bond demand will soon grow

2017 ◽  
Keyword(s):  
Climate Change ◽  
East Asia ◽  
East Asian ◽  
Bond Market ◽  
Bond Markets ◽  
South East Asia ◽  
Financial Instruments ◽  
Content Type ◽  
Investor Confidence ◽  
Climate Change Policies

Subject Prospects for the South-east Asian green bond market. Significance South-east Asia has been slow to capitalise on the global boom in 'green' financing, but is likely to become a prominent issuance source within a few years. Drivers will include demand for infrastructure funds and commitments to climate change policies. Impacts Regulators will need to keep pace with the industry's evolution, or risk undermining investor confidence. Immature bond markets will hamper issuance growth in emerging ASEAN economies. As they embrace more sustainable lending policies, banks will be important in developing green bonds. Green bonds face competition from other, cheaper financial instruments.

Impacts of Paris Agreement on Russian economy

2018 ◽  
pp. 76-94 ◽  
Author(s):  
I. A. Makarov ◽  
C. Henry ◽  
V. P. Sergey
Keyword(s):  
Climate Change ◽  
Economic Policy ◽  
Growth Rates ◽  
Paris Agreement ◽  
Gdp Growth ◽  
Russian Economy ◽  
Climate Policies

The paper applies multiregional CGE Economic Policy Projection and Analysis (EPPA) model to analyze major risks the Paris Agreement on climate change adopted in 2015 brings to Russia. The authors come to the conclusion that if parties of the Agreement meet their targets that were set for 2030 it may lead to the decrease of average annual GDP growth rates by 0.2-0.3 p. p. Stricter climate policies beyond this year would bring GDP growth rates reduction in2035-2050 by additional 0.5 p. p. If Russia doesn’t ratify Paris Agreement, these losses may increase. In order to mitigate these risks, diversification of Russian economy is required.

The Paris Agreement—China’s Kind of (International) Order?

2018 ◽  
Author(s):  
Daniel Krahl
Keyword(s):  
Climate Change ◽  
Developing Countries ◽  
Global Governance ◽  
World Order ◽  
Paris Agreement ◽  
Great Power ◽  
Old Order ◽  
Traditional Approaches ◽  
Emerging Powers ◽  
International Status

The Paris Agreement has turned traditional approaches to global governance upside down, using a bottom-up approach that made it possible for emerging powers like China to agree to binding emissions targets to contain climate change. It thus marks a further step away from the old order centered on Western power, and at the same time it fits well into Chinese attempts to create a post-American order that rests on great power diplomacy within a multilateral framework of cooperation that privileges developing countries. The Paris Agreement allows China to leverage the internal fight against pollution and the restructuring and upgrading of its economy for international status. That the agreement has so far survived President Trump’s announcement of America’s departure suggests that it could yet serve as a blueprint for other, future arrangements for world order that would be able to integrate a risen China.

Common but Differentiated Responsibilities and Respective Capabilities: Did This Principle Ever Exist?

2021 ◽  
pp. 1-7
Author(s):  
Armin Rosencranz ◽  
Kanika Jamwal
Keyword(s):  
Climate Change ◽  
Clean Development Mechanism ◽  
Clean Energy ◽  
Developed Countries ◽  
Developing Nations ◽  
Paris Agreement ◽  
Significant Shift ◽  
Historical Responsibility ◽  
Common But Differentiated Responsibilities ◽  
Self Differentiation

This article argues that the UN Framework Convention on Climate Change (UNFCCC)’s conception of common but differentiated responsibilities and respective capabilities (CBDRRC) was never effectively implemented through the Kyoto Protocol. The investments under the Kyoto Protocol’s Clean Development Mechanism suggest that CBDRRC has been used by developed countries to buy a “right to pollute”, i.e., maintaining or even increasing their greenhouse gas emissions, while investing in clean energy in developing nations, thus defeating the essence of CBDRRC as intended under the UNFCCC. Second, it points out that the Paris Agreement reflects a significant shift in the CBDRRC, both in terms of its textual understanding as well as its implementation. A qualifier, “in the light of national circumstances”, was added to the principle of CBDRRC in the Paris Agreement, allowing a form of voluntary self-differentiation. This qualifier diluted a top-down, objective analysis of States’ commitments. For several scholars, this shift has meant a softening of the principle, making the “differentiation” more dynamic and flexible. In the authors’ opinion, the qualifier is a fundamental modification of the principle to make it politically more palatable. It completely disregards the notion of historical responsibility for climate change, which was the cornerstone of CBDRRC as conceived under the UNFCCC. Therefore, rather than presenting a more flexible understanding of UNFCCC’s conception of CBDRRC, the Paris Agreement marks a total departure from it. Lacking an explicit redefinition of the principle of CBDRRC, it is misleading to contend that the Paris Agreement is still anchored in it.

scholarly journals Climate Change: Reversing the Past and Advancing the Future

AJIL Unbound ◽  
2021 ◽  
Vol 115 ◽  
pp. 80-85
Author(s):  
Daniel Bodansky
Keyword(s):  
Climate Change ◽  
Climate Change Policy ◽  
The United States ◽  
Paris Agreement ◽  
Montreal Protocol ◽  
Global Institutions ◽  
Change Policy ◽  
Global Action ◽  
Nationally Determined Contributions ◽  
Executive Action

After four years of not simply inaction but significant retrogression in U.S. climate change policy, the Biden administration has its work cut out. As a start, it needs to undo what Trump did. The Biden administration took a step in that direction on Day 1 by rejoining the Paris Agreement. But simply restoring the pre-Trump status quo ante is not enough. The United States also needs to push for more ambitious global action. In part, this will require strengthening parties’ nationally determined contributions (NDCs) under the Paris Agreement; but it will also require actions by what Sue Biniaz, the former State Department climate change lawyer, likes to call the Greater Metropolitan Paris Agreement—that is, the array of other international actors that help advance the Paris Agreement's goals, including global institutions such as the International Maritime Organization (IMO), the Montreal Protocol, and the World Bank, as well as regional organizations and non-state actors. Although the Biden administration can pursue some of these international initiatives directly through executive action, new regulatory initiatives will face an uncertain fate in the Supreme Court. So how much the Biden Administration is able to achieve will likely depend significantly on how much a nearly evenly-divided Congress is willing to support.

scholarly journals Waiting for a deus ex machina: ‘Sustainable extractives’ in a 2°C world

2020 ◽  
Vol 40 (4) ◽  
pp. 471-489
Author(s):  
Dinah Rajak
Keyword(s):  
Climate Change ◽  
Research And Development ◽  
Corporate Responsibility ◽  
Fossil Fuels ◽  
Oil Industry ◽  
Paris Agreement ◽  
New Wave ◽  
Suspension Of Disbelief ◽  
Oil Company ◽  
Growth Forecasts

In recent years the oil industry has shifted from climate change denialism to advocacy of the Paris Agreement, championing sustainability in an apparent assertion (rather than rejection) of corporate responsibility. Meanwhile growth forecasts continue unabated to finance the industry’s enthusiasm for upstream ventures in uncharted territories. How do extractive companies, and those who work in them, square this contradiction? Fieldwork among oil company executives points to a new wave of techno-optimism: a deus ex machina that will descend from the labs of corporate research and development (R&D) labs to reconcile these irreconcilable imperatives. Rather than denial, the projection of win-win synergies between growth and sustainability involves a suspension of disbelief; an instrumental faith in the miraculous power of technology that tenders salvation without forsaking fossil fuels, or restructuring markets.

Adaptation to Climate Change under Climate Change Treaties

2021 ◽  
Vol 23 (2-3) ◽  
pp. 158-167
Author(s):  
Agata Bator ◽  
Agnieszka Borek
Keyword(s):  
Climate Change ◽  
Paris Agreement ◽  
International Level ◽  
Adaptation To Climate Change ◽  
Adaptation Measures ◽  
Policy Makers ◽  
Adverse Impacts ◽  
Global Agreement ◽  
Local Levels ◽  
Impacts Of Climate Change

Abstract On the ground that climate change poses a great threat to societies and economies, it became evident for policy makers that attention should be given to the problem of adaptation, i.e. adaptation measures should be undertaken to minimize the adverse impacts of climate change. As the debate on the adverse impacts of climate change advanced at international level, states are taking actions at national, regional and local levels. Along with the increase awareness regarding importance of adaptation, regulations designed to prepare states to strengthen their resilience to climate change, has been developed in climate change treaties. Paris Agreement seems to be the first global agreement which addresses adaptation as one of its key goals and links it with mitigation efforts. The purpose of this article is to discuss the most important regulations and programmes within the regime established by the Framework Convention and the Paris Agreement concerning adaptation to climate change.

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