The Paris Climate Agreement officially goes into effect Nov. 4. But it will take much more to achieve its goals. Legal challenges could well provide one way for individuals, civil society and governments to support and reinforce global action on climate change.
Columbia Center on Sustainable Investment, Author at State of the Planet - Page 2 of 3
The Paris Climate Agreement officially goes into effect Nov. 4. But it will take much more to achieve its goals. Legal mechanisms could well provide one way for individuals, civil society and governments to support and reinforce global action on climate change.
As the world rushes to invest in clean energy, the potential impacts of these projects on the rights of local individuals and communities need to be properly addressed.
In order to promote a broader conversation on the issue of equity and stranded assets, Oxfam recently released a report discussing whether there is a reasonable case to be made that developing countries should get preferential treatment so that they bear less of the burden when it comes to having their assets stranded.
The Columbia Center on Sustainable Investment’s conference of early November will consider, notably, how world production of oil and gas could be significantly reduced in manners protecting the interests of lower-income producing countries, given that staying on carbon budget will require leaving two thirds of our fossil fuel reserves unburnt.
2016 was a hot year for climate change shareholder resolutions hitting the boardrooms of oil and gas companies. Although more familiar climate news headlines have carried calls to “keep it in the ground” and divest investment portfolios from fossil fuels, a patient strategy has been quietly gaining momentum: shareholder engagement on climate change.
Tunisia’s commitment to disclose extractive industry contracts was a critical step in promoting improved governance in Tunisia’s natural resources sector, as well as an important move toward improving trust between the government, investors and extractive project-affected communities.
Indigenous peoples and other communities hold and manage 50 to 65 percent of the world’s land, yet governments recognize only 10 percent as legally belonging to these groups, with another 8 percent designated by governments for communities. That’s bad economic policy.
With the approval of the Paris Climate Agreement comes a key question: Do our trade and investment agreements—current and proposed—create the space, send the right signals, and clear the path for the U.S. and other countries to meet their Paris commitments?
Calls are intensifying to phase out fossil fuels, and that is now beginning to occur in many developed countries. This shift will have profound implications for the developing world, which has vast untapped fossil fuel resources, but may be unable to realize their value.