China to launch nationwide carbon market. #ClimateChange #auspol #qldpol #StopAdani

China is launching the biggest carbon market in the world, which will require power plants to hold emissions permits (Pic: Flickr/V.T. Polywoda)

By Li Jing in Beijing

China’s long-awaited nationwide emissions trading scheme (ETS) will be officially launched on 19 December, starting with the power sector only, according to a document from National Development Reform Commission (NDRC).

It represents a scaling back from the original plan for eight economic sectors to take part in the carbon market: petrochemicals, chemicals, building materials, iron and steel, non-ferrous metals, paper, power and aviation.

Nonetheless, it will instantly overtake the EU’s carbon market to become the world’s largest. The power sector accounts for 46% of China’s carbon dioxide emissions, of which an estimated 39% will be covered by the ETS, according to data from World Resource Institute.

Explaining the change, Chinese officials said some industrial sectors did not have strong statistical foundations, and the system would involve constant testing and continuous adjustments.

Carbon futures trading will not be available at the launch stage of the scheme, Xie Zhenhua, China’s special representative for climate change, said during the UN climate conference in Bonn last month. It is intended to create a cost for emitting carbon, not a platform for market speculation, he said.

An official at NDRC who asked not to be named said the conservative approach reflected the importance leaders attached to the overall stability of the country’s financial markets.

Liu Shuang, a program director with Energy Foundation China, said the power sector was the most suitable sector for China to start its national emission trading scheme, as it had the most credible and transparent emissions data.

Advocates of emissions trading say it creates an efficient system for cutting greenhouse gases where it is cheapest to do so. Polluting plants must hold permits for every tonne of CO2 they emit and can sell surplus allowances if they clean up their operations.

In existing systems, however, industry has lobbied for free allowances and policies resulting in low carbon prices. Critics say that gives little incentive to invest in cleaner technology for the long term.

Press link for more: Climate Change News


The Oceans make the Earth a habitable planet. #auspol #qldpol #StopAdani

The oceans make the planet habitable, if we continue to use the oceans as a garbage dump we will quickly make our planet uninhabitable.

Plastics & carbon pollution are real threats to marine life and ultimately to humanity.

Coral bleaching is inevitable as the oceans are heated by global warming.

The science is clear, we know what must be done.

We must demand political leadership.

We have the technology, we must become active it is the challenge for our generation.

First put a price on Pollution. Both carbon & plastic.

We can no longer be complacent.

Time is running out.

Australia quick to action in war has been slow to act on reducing pollution. Future generations will pay an enormous price.

Our carbon emissions per capita are among the highest in the world.

We are amongst the world’s worst when it comes to climate action.

We are literally stealing the future from our children and future generations.

“So reckless it’s terrifying!” #StopAdani #auspol #qldpol

“So reckless it’s terrifying!” Simon Baker, award-winning actor and director, has an important message for all Australians.

SHARE + ACT: Tell Turnbull to protect our Reef >> http://www.fightforourreef.org.au/simonbaker

#FightForOurReef #StopAdani

Simon Baker’s message should be a wake up call for everyone.

Climate change is causing extreme events all over the planet.

It’s hard to believe Australian politicians from both Labor & Liberal Parties are still not taking the climate science seriously.

Future generations of Australians will never understand how we ignored the warnings.

Scientists, economists, doctors are doing what they can to create awareness.

This week in France leaders from all over the world came together to demand climate action and plan for a carbon neutral economy. The One Planet Summit was ignored by Australian politicians & most of the Australian media.

If we are to limit global warming to 2C we must cease using fossil fuels by 2050.

Investing in new coal mines is reckless, it completely ignores the science & will most likely be the end of the Great Barrier Reef putting 70,000 jobs in Tourism at risk.

The threat to humanity from air pollution is also ignored.

A recent report from the World Health Organization said the 500,000 babies die every year from air pollution a large percentage of that due to burning coal.

Using the atmosphere as a garbage dump for carbon dioxide when we use fossil fuels has to end.

Putting a price on carbon is the most cost effective way to solve the problem.

#ClimateChange link to #CoralBleaching #StopAdani #auspol #qldpol

According to a new research report published today in a special edition of the Bulletin of the American Meteorological Society, the 2016 global average temperature and extreme heat wave over Asia occurred due to continued long-term climate change.

The report included research from NOAA scientists.

Additionally, climate change was found to have influenced other heat events in 2016, including the extreme heat in the Arctic, development of marine heat waves off Alaska and Australia, as well as the severity of the 2015-2016 El Nino, and the duration of coral bleaching in the Great Barrier Reef.

The sixth edition of Explaining Extreme Events from a Climate Perspective presents 27 peer-reviewed research papers that examine episodes of extreme weather across six continents and two oceans during 2016.

It features the research of 116 scientists from 18 countries — including five reports co-led by NOAA scientists — who analyzed historical observations and changing trends along with model results to determine whether and how climate change might have influenced an extreme event or shifted the odds of it occurring.

The findings

The new research found climate change increased the risk of wildfires in the western U.S., and the extreme rainfall experienced in China, along with South Africa’s drought and resultant food shortages.

Researchers found that climate change had reduced the likelihood of the cold outbreaks experienced in China and western Australia in 2016.

No conclusive link to climate change was found by scientists examining severe drought in Brazil, record rains in Australia, or stagnant conditions creating poor air quality in Europe.

In the report, 21 of the 27 papers in this edition identified climate change as a significant driver of an event, while six did not.

Of the 131 papers now examined in this report over the last six years, approximately 65 percent have identified a role for climate change, while about 35 percent have not found an appreciable effect.

There could be several reasons no climate signal was found by some papers; it might be that there were no changes in the frequency or severity for that type of event over time or that researchers weren’t able to detect changes using the available observational record or scientific tools and models available today.

Future studies could yield new insights on the climate’s influence on extreme weather.

More about the report

The BAMS annual report is designed to improve the scientific understanding of the drivers of extreme weather, provide insight into how the various weather extremes may be changing over time, and help community and business leaders better prepare for a rapidly changing world.

Press link for more: NOAA.GOV

Cities have the power to lead #ClimateChange #auspol #qldpol #OnePlanet #StopAdani

Cities have the power to lead climate change

Cities, as hubs of innovation, now stand at the forefront of climate action


Christiana Figueres, vice-chair of the Global Covenant of Mayors | via Global Covenant of Mayors

Negotiating the Paris Agreement was a monumental achievement.

Nations rallied together and subnational actors, especially cities and local governments, afforded confidence that targets could be met, leading to swift approval and ratification.

As we lean into implementation, leaders in every corner of the world, in cities large and small, are taking bold climate action to ensure we are able to meet these commitments — and, importantly, take even more ambitious action.

However, for some local leaders, implementation of the Agreement comes with challenges. This is especially pertinent when it comes to obtaining the financial support needed to turn ideas into action and make the changes necessary to ensure they can help meet the goals set forth in Paris.

Luckily, one of the many successes of the Paris Agreement was the establishment of mechanisms to increase climate-friendly ideas and investment.

Cities, as hubs of innovation, now stand at the forefront of climate action, ready to accept these investments.

I am proud to serve as the vice-chair of the Global Covenant of Mayors for Climate & Energy, an initiative that supports city leaders in meeting these commitments.

Together with our partner city networks both globally and locally, cities in this alliance are developing cutting-edge solutions to the challenges of climate finance.

They are providing critical leadership and support as national governments move towards a greener future.

The power these cities have to tackle climate change cannot be understated.

Mayors and local leaders often have greater influence over the sectors that most impact carbon emissions.

Buildings, transportation, water and waste are all complex systems, and city leaders’ in-depth knowledge of regional environmental landscapes means they are uniquely suited to pinpoint which areas need the most attention to reduce emissions while increasing sustainability and economic efficiency.

“We must see climate in every facet of the economy, from green buildings and infrastructure to sustainable agriculture, so that our growth will be climate neutral.”

Central to scaling timely global climate action is financing the development of modernized low carbon infrastructure.

We must see climate in every facet of the economy, from green buildings and infrastructure to sustainable agriculture, so that our growth will be climate neutral.

Investments in these priorities now will build the tomorrow we want our children to live in.

As cities work to accelerate the collective impact of their actions, improving city-level access to finance will increase investment flows into cities and other urban areas. It will unlock the potential of cities to be a fundamental part of the global climate solution. It will re-shape the economics of development and reinforce sustainable infrastructure as a stronger investment over high-carbon polluting options.

In Cape Town, this philosophy has been taken to heart as a number of new strategies are pursued to increase investments in our green future. Many climate and resilience solutions, such as renewable energy, green transportation and net-zero buildings, are less expensive to operate than they are to build, meaning it takes partnerships between governments and the private sector to finance them.

“Cape Town is poised to become the first city in Africa to install an electric bus system.”

For example, Cape Town is poised to become the first city in Africa to install an electric bus system. The MyCiTi bus system is an ambitious project and will be made possible by a public-private investment partnership and pay dividends to the city in the future. The strategic partnership goes beyond just buying buses: the buses, currently made by Chinese green energy firm BYD, will soon be manufactured at a new plant in Cape Town in 2018. The implementation of the MyCiTi bus system is not only increasing sustainability and helping to reduce carbon emissions, it is boosting the city’s economy and creating hundreds of jobs. This project will help Cape Town save money with reduced maintenance and operating costs while supporting the city’s ongoing journey to build a strong and prosperous green economy.

The city is also collaborating with the private sector to mitigate the dire effects of drought on Cape Town’s water supply. To accelerate emergency water projects, the city is issuing tax-exempt green bonds to private sector developers to incentivize developments that will enhance sustainability and improve water security. Thanks to the investment spurred by green bonds and other innovative strategies, a platform of climate security is being created from which the city’s future is wide open.

“The implementation of the MyCiTi bus system is not only increasing sustainability and helping to reduce carbon emissions, it is boosting the city’s economy and creating hundreds of jobs.”

Cities like Cape Town are helping to spur the global transformation that spells success for the Paris Agreement. By investing in sustainability and resilience now, we can guarantee not only stable returns for our private sector partners, but a stable future for our cities and the world.

Unlocking a sustainable path for cities allows them to accelerate their impact. By 2050, implementing sustainable urban infrastructure choices could save $17 trillion on energy costs alone.

Through initiatives like the Global Covenant of Mayors for Climate & Energy, over 7,400 cities around the world — 9.35 percent of the population — are showing their potential and making real progress to greatly accelerate the world’s achievements towards the legally binding global commitment to create a carbon neutral world this century.


Christiana Figueres, Vice-Chair of the Global Covenant of Mayors

2016 Global Heatwaves due to Climate Change #StopAdani #auspol #qldpol #OnePlanet

Global heat waves in 2016 due purely to climate change: study

The findings mark the first time that global scientists have identified severe weather that could not have happened without climate change, said the peer-reviewed report titled “Explaining Extreme Events in 2016 from a Climate Perspective.”

Until now, the contribution of human-driven climate change has been understood to raise the odds of certain floods, droughts, storms and heat waves — but not serve as the sole cause.

“This report marks a fundamental change,” said Jeff Rosenfeld, editor-in-chief of the Bulletin of the American Meteorological Society, which published the peer-reviewed report.

“For years scientists have known humans are changing the risk of some extremes. But finding multiple extreme events that weren’t even possible without human influence makes clear that we’re experiencing new weather, because we’ve made a new climate.”

The report included 27 peer-reviewed analyses of extreme weather across five continents and two oceans.

A total of 116 scientists from 18 countries took part, incorporating historical observations and model simulations to determine the role of climate change in nearly two dozen extreme events.

Records shattered

In 2016, the planet reached a new high for global heat, making it the warmest year in modern times.

These record average surface temperatures worldwide were “only possible due to substantial centennial-scale anthropogenic warming,” said the report.

Asia also experienced stifling heat, with India suffering a major heat wave that killed 580 people from March to May.

Thailand set a new record for energy consumption as people turned on air conditioners en masse to cool off.

Even though the tropical Pacific Ocean warming trend of El Nino was pronounced in 2015 and the first part of 2016, researchers concluded that it was not to blame.

“The 2016 extreme warmth across Asia would not have been possible without climate change,” said the report.

“Although El Nino was expected to warm Southeast Asia in 2016, the heat in the region was unusually widespread.”

In the Gulf of Alaska, the nearby Bering Sea, and off northern Australia, water temperatures were the highest in 35 years of satellite records.

This ocean warming led to “massive bleaching of the Great Barrier Reef and one of the largest harmful algal blooms ever off the Alaska shore,” according to the report.

“It was extremely unlikely that natural variability alone led to the observed anomalies.”

Another chapter found that the so-called “blob” of sub-Arctic 2016 warmth “cannot be explained without anthropogenic climate warming.”

Most, not all

Most of the extreme events studied were influenced to some extent by climate change, as in the past six years that the work has been published.

Climate change was found to have boosted the odds and intensity of El Nino, the severity of coral bleaching in the Great Barrier Reef, and warmth in the North Pacific Ocean.

Flash droughts over southern Africa, like the one in 2015 and 2016, have tripled in the last 60 years mainly due to human-caused climate change, it said.

“Extreme rains, like the record-breaking 2016 event in Wuhan, China are 10 times more likely in the present climate than they were in 1961.”

The unusual Arctic warmth observed in November–December 2016 “most likely would not have been possible without human-caused warming,” it added.

But not all extreme weather was influenced by global warming.

About 20 percent of the events studied were not linked to human-caused climate change, including a major winter snowstorm in the Mid-Atlantic United States, and the drought that led to water shortages in northeast Brazil.

The findings were released at the annual meeting of the American Geophysical Union in New Orleans.

Press link for more: SBS.COM.AU

Planetary Prosperity Means Zero Carbon #StopAdani #auspol #qldpol #OnePlanetSummit



Mother Nature seems to be in full revolt.

A stone’s throw from the city of Oakland, where Global Footprint Network is based, the seasonal Diablo winds recently reached record intensity, fanning the worst fires that the famous wine-producing region of Napa has known, reducing to ashes vineyards and residential neighbourhoods, and pushing tens of thousands of inhabitants on the roads.

Now Santa Ana winds are wreaking similar havoc in Southern California, causing more evacuations and burning more structures.

On the other side of the continent, the Caribbean islands most affected by the hurricanes of the last weeks – Saint Martin, Saint Barthelemy and Puerto Rico in front – face a tremendous reconstruction project, needing to rebuild access to safe water and electricity.

The time is not for discouragement or defeatism.

More than ever, it is evident that every human community must do its utmost to keep pace with the planet that is hosting us.

The time for transformation is now.

Humanity is not idle.

The root causes are recognized.

On December 12, we celebrate the two-year anniversary of the Paris Climate Agreement, when world leaders came together to commit to limit global warming to 2 degrees Celsius and strive for 1.5 degrees.

Although President Donald Trump has withdrawn from the agreement, leaders around the world are standing firm.

In Paris, French President Emmanuel Macron, World Bank President Jim Yong Kim, and UN Secretary António Guterres will gather at the One Planet Summit on December 12 to call for concrete action.

Similarly, I am among 31 Blue Planet Laureates who not only want to mark this important anniversary but also remind the world that the climate agreement is achievable and desirable.

We have summarized our position as follows:

Planetary Prosperity Means Zero Carbon

The resource hunger of the human enterprise has become too large for our planet.

The Paris Climate Agreement recognizes this. It aims to limit global warming to less than 2°C above the preindustrial level.

This means ceasing fossil-fuel use before 2050, increasing ecosystem and biodiversity conservation, and improving human well-being.

We, Blue Planet Laureates, wholeheartedly and emphatically support this transformation.

It is technologically possible, economically beneficial, and our best chance for a prosperous future.

Our planet is finite. But human possibilities are not. The transformation will succeed if we apply people’s greatest strengths: foresight, innovation, and care for each other.

Examples across the globe show positive results.

Cities like Zurich, Curitiba, Malmö, Masdar, and Reykjavik have shown leadership. Regions have taken charge, including California, where Gov. Jerry Brown will convene the Global Action Climate Summit next year.

China has made creating an Ecological Civilization in harmony with nature a priority in its latest 5-year plan.

France and the UK have announced the end of fossil fuel cars by 2040, and Tesla surpassed General Motors earlier this year to become the most valuable US auto maker – without ever building a gasoline-powered car.

Other companies such as Schneider Electric thrive on driving down their clients’ carbon emissions and costs. Achieving Paris is possible.

Perhaps one of the greatest challenges of this transformation is sparking the imagination of people around the world and making them realize that a zero-carbon world is much more likely to secure long-term prosperity than continuing our destructive path.

We also need to start to recognize that this transformation primarily builds on foresight and innovation, not sacrifice and suffering.

Even with the UN projecting world population growth of 13 percent by 2030 and 28 percent by 2050, flourishing lives on this one planet are possible through walkable cities that are renewably powered and sustainably fed.

Encouraging smaller families and empowering women around the world will also produce immediate positive health and educational outcomes for those families.

Such steps will also substantially reduce the carbon footprint and ease the resource budget for each country in the long run. Indeed, ‘family planning’ and ‘educating girls’ rank sixth and seventh in Project Drawdown’s ranking of solutions to reverse global warming.

We stand for one-planet prosperity. ‘One planet’ means that we recognize the physical context of our economies. ‘Prosperity’ means that we choose flourishing lives over misery. Will you join us?

Press link for more: Impakter.com

One Planet 🌍 #auspol #qldpol #climatechange #StopAdani

Climate Change is our greatest challenge it’s a race against time, and we’re losing.

Australia & the United States should be leading the world.

Instead we continue to invest in fossil fuels and refuse to put a price on carbon pollution.

Corporations have corrupted our democracies.

Our children & future generations will pay for our greed & negligence.

Nature’s Shock & Awe for The U.S #ClimateChange #auspol #StopAdani

Shock and awe. Photo: Mario Tama/Getty Images

The time between Thanksgiving and Christmas is meant to be, in Southern California, the start of rainy season.

Not this year.

The Thomas Fire, the worst of those roiling the region this last week, grew 50,000 acres on Sunday alone; it has now burnt 270 square miles and forced 200,000 people from their homes.

There is no rain forecast for the next seven to ten days, and as of Monday morning, Thomas is just, in the terrifying semi-clinical language of wildfires, “10% contained.” To a poetic approximation, it’s not a bad estimate of how much of a handle we have on the forces of climate change that unleashed it — which is to say, hardly any.

“The city burning is Los Angeles’s deepest image of itself,” Joan Didion wrote in “Los Angeles Notebook,” collected in Slouching Towards Bethlehem. But the cultural impression is apparently not all that deep, since the fires that broke out last week produced, in headlines and on television and via text messages, an astonished refrain of the adjectives “unthinkable,” “unprecedented,” and “unimaginable.”

Didion was writing about the fires that had swept through Malibu in 1956, Bel Air in 1961, Santa Barbara in 1964, and Watts in 1965; she updated her list in “Fire Season (1989),” describing the fires of 1968, 1970, 1975, 1978, 1979, 1980, and 1982: “Since 1919, when the county began keeping records of its fires, some areas have burned eight times.”

We could use further updating: Five of the 20 worst fires in California history have now hit since just September, when 245,000 acres in Northern California burned — devastation so cruel and sweeping that two different accounts were published in two different local newspapers of two different aging couples taking desperate cover in pools as the fires swallowed their homes.

One couple survived, emerging after six excruciating hours to find their house transformed into an ash monument; in the other, it was only the husband who emerged, his wife of 55 years having died in his arms. As Americans traded horror stories in the aftermath of those fires, they could be forgiven for mixing the stories up or being confused; that climate terror could be so general as to provide variations on such a theme seemed, as recently as September, impossible to believe.

But if last week’s wildfires were not unprecedented, what did we mean when we called them that?

Like September 11, which followed several decades of morbid American fantasies about the World Trade Center, the brushfires that began last week north of Santa Paula look to a horrified public like a climate prophecy, made in fear, now made real.

That prophecy was threefold.

First, the simple intuition of climate horrors — an especially biblical premonition when the plague is out-of-control fire, like a dust storm of flame.

Second, of the expanding reach of wildfires in particular, which now can feel, in much of the West, like a gust of bad wind away, and never impossible no matter the time of year.

Over the last few decades, the wildfire season has already grown by two months, and by 2050, destruction from wildfires is expected to double (for every additional degree of global warming, it will quadruple).

But perhaps the most harrowing of the ways in which the fires seemed to confirm our cinematic nightmares was the third: that climate chaos could breach our most imperious fortresses — that is, our cities.

With Katrina, Sandy, Harvey, Irma, Americans have gotten acquainted with the threat of flooding, but water is just the beginning.

In the affluent cities of the West, even those conscious of environmental change have spent the last few decades believing that, and behaving as though, we had — with our street grids, our highways, our superabundant supermarkets and all-everywhere, all-enveloping internet — built our way out of nature.

We have not.

A paradise dreamscape erected in a barren desert, L.A. has always been an impossible city, as Mike Davis, among many others, has so brilliantly written.

The sight of flames straddling the eight-lane 405 is a reminder that it is still impossible.

In fact, getting more so.

One response to seeing things long predicted actually come to pass is to feel that we have settled into a new era, with everything transformed.

In fact, that is how Governor Jerry Brown described the state of things this weekend: “a new normal.”

The fact that the news cycle has already moved on, while the fires are just as out of control, is another sign of our eagerness to normalize these horrors — or at least to look away.

But normalization is problematic, as perversely comforting as it may feel to think we’ve settled into a familiar nightmare.

Climate change is not binary, and we have not now arrived at a new equilibrium; as I’ve written before, the climate suffering we are seeing now is a “beyond best case” scenario for our future.

With each further tick upward in global temperatures — each tiny tick — the effects will worsen.

And further ticks are inevitable; the question is only how many.

It would be much more accurate to say that we have passed beyond the end of normal, into a new realm unbounded by the analogy of any human experience.

But two big forces conspire to prevent us from normalizing fires like these, though neither is exactly a cause for celebration.

The first is that extreme weather won’t let us, since it won’t stabilize — so that even within a decade, it’s a fair bet that these fires will be thought of as the “old normal.”

Whatever you may think about the pace of climate change, it is happening mind-bendingly fast, almost in real time.

It is not just that December wildfires were unheard of just three decades ago.

We have now emitted more carbon into the atmosphere since Al Gore wrote his first book on climate than in the entire preceding history of humanity, which means that we have engineered most of the climate chaos that now terrifies us in that brief span.

The second force is also contained in the story of the wildfires — the way that climate change is finally striking close to home.

Striking, in fact, some quite special homes: Last Thursday, for instance, there were reports that the fires were threatening the Getty Museum in Pacific Palisades and Rupert Murdoch’s Bel-Air estate.

There may not be two better symbols of the imperiousness of American money than the Getty villa, a San Simeon built on the pure blue Pacific with Texas oil money laundered through art philanthropy; and the nearby toy vineyard of climate-change-denier Rupert Murdoch, built on some of the most expensive real estate in the country.

One imagines that Murdoch will not be writing tweets like this one again anytime soon; then again, who knows?

When, on Thursday, I tweeted that NBC News was reporting that Murdoch’s vineyard was on fire, it immediately spawned a thread of gleeful, crowing responses, more than a thousand of them. But, of course, his property and the Getty were not being singled out; they were fighting off flames because the entire rest of the county was, too, and — no matter how well-equipped or well-defended or well-heeled they were — having just as much trouble. Which is, as uncomfortable as it may be to admit, a very useful allegory for the rest of us to keep in mind.

By accidents of geography and by the force of its wealth, the United States has, to this point, been mostly protected from the devastation climate change has already visited on parts of the less-developed world — mostly.

The condition of Puerto Rico, nearly three months after Hurricane Irma hit, is a harrowing picture of what climate devastation can do to the least among us. That it is now hitting our wealthiest citizens is not just an opportunity for ugly bursts of liberal Schadenfreude; it is also a sign of just how hard, and how indiscriminately, it is hitting. The wealthy used to build castles to defend themselves against the world; more recently it’s been a more modern kind of fortress, cities, enclosing more and more of us in an illusion of man-made security. All of a sudden, it’s getting a lot harder to protect against what’s coming.

Top economists call for an end to fossil fuel investment! #StopAdani #Auspol #BeatPollution

Declaration on Climate Finance

In advance of French President Macron’s climate and finance summit, we call for an immediate end to investments in new fossil fuel production and infrastructure, and encourage a dramatic increase in investments in renewable energy.


We the undersigned, call for an immediate end to investments in new fossil fuel production and infrastructure, and encourage a dramatic increase in investments in renewable energy.

We are issuing this call to action in the lead up to the climate summit hosted by President Macron in Paris this December. President Macron and other world leaders, have already spoken out about the need for an increase in finance for climate solutions, but they have remained largely silent about the other, dirtier side of the equation: the ongoing finance of new coal, oil and gas production and infrastructure.

Ongoing global climate change and environmental destructions are happening at an unprecedented scale, and it will take unprecedented actions to limit the worst consequences of our dependence on oil, coal, and gas.

Equally as critical as drastically curbing the carbon intensity of our economic systems is the need for immediate and ambitious actions to stop exploration and expansion of fossil fuel projects and manage the decline of existing production in line with what is necessary to achieve the Paris climate goals.

Research shows that the carbon embedded in existing fossil fuel production will take us far beyond safe climate limits. Thus, not only are new exploration and new production incompatible with limiting global warming to well below 2ºC (and as close to 1.5ºC as possible), but many existing projects will need to be phased-out faster than their natural decline. Simply put: there is no more room for new fossil fuel infrastructure and therefore no case for ongoing investment.

It is time for the community of global economic actors to fully embrace, safe, and renewable energies and phase out fossil fuels. This letter affirms that it is the urgent responsibility and moral obligation of public and private investors and development institutions to lead in putting an end to fossil fuel development.

A global transition to a low carbon future is already well underway and we recognize that a full transition away from fossil fuels is an opportunity for a new economic paradigm of prosperity and equity. Continued expansion of oil, coal, and gas is only serving to hinder the inevitable transition while at the same time exacerbating conflicts, fuelling corruption, threatening biodiversity, clean water and air, and infringing on the rights of Indigenous Peoples and vulnerable countries and communities.

Energy access and demand can and must now be met fully through the renewable energies of the 21st century. Assertions that new fossil fuels, such the current push for gas, are needed for this transformation are not only inaccurate; they also undermine the speed and penetration of renewable energy.

The global investment community has the power to create the conditions under which this shift is possible. Current and future investments in fossil fuel production are at odds with a safe and equitable transition away from ever stronger climate disasters.

Global investor and international development actors and institutions must recognize that continued investments in fossil fuel production supply-side is irreconcilable with meaningful climate action. Instead, let us all prioritize the tremendous investment opportunities for a 100% renewable future that support healthy economies while protecting workers, communities, and the ecological limits of a finite planet.

Signers of the Declaration on Climate Finance:

• Alain Grandjean

• Economist, Scientific advisor to the Foundation for Nature and Mankind

• Alain Karsenty

• Research Director at CIRAD, Montpellier

• Ann Pettifor

• Director of Policy Research in Macroeconomics, Prime

• Anu Muhammad

• Professor of Economics, Jahangirnagar University, Dhaka, Bangladesh

• Aurore Lalucq

• Economist and Director of the Veblen Institute

Camilla Toulmin
Professor, Dr

• Carolina Burle Schmidt Dubeux

• Environemental Economist, PhD and teacher at the Federal University of Rio de Janeiro · COPPE/Centro Clima

• Cédric Durand

• Maître de conférences en Économie, université Paris 13

• Claudia Kemfert

• Head of the department of energy, transportation and environment at the German Institute for Economic Research in Berlin

• Co-Pierre Georg

• Associate Professor, University of Cape Town. Research Economist – Deutsche Bundesbank , Policy Associate – Economic Research Southern Africa

Denis Dupré
Professor of finance and ethics

• Dominique Plihon

• Professor Emeritus of Economics, Paris-Nord University Director, Center of Economics of the University of Paris Nord

• Dr Ben Groom

• Associate Professor of Environment & Development Economics, LSE

• Dr Michael Mason

• Associate Professor, Department of Geography and the Environment, LSE

Dr. Alaa Al Khourdajie
Teaching Fellow in Environmental Economics, School of Economics, University of Edinburgh

• Dr. Ashok Khosla

• Chairman, Development Alternatives

• Dr. Charles Palmer

• Associate Professor of Environment and Development, London School of Economics and Political Science (LSE),

• Dr. Ron Milcarek

• UMASS Economics Department

• Dr. Simplice Asongu

• Lead Research Economist, African Governance and Development Institute

• Emilio Padilla Rosa

• Associate Professor, Department of Applied Economics, Autonomous University of Barcelona

• Frank Ackerman

• Principal Economist, Synapse Energy Economics

• Gail Whiteman

• Professor

• Gautam Sethi

• Associate Professor of Economics and Econometrics, Bard Center for Environmental Policy

• Helene Ollivier

• Research fellow of the CNRS and Associate Professor at Paris School of Economics

• Herman Daly

• Emeritus Professor, University of Maryland

• Ian Kinniburgh

• Former Director of Department of Policy and Analysis Division, UN Department of Economic and Social Affairs

• Ilan Noy

• Chair in the Economics of Disasters, Victoria University of Wellington, New Zealand

• Ivar Ekeland

• Fellow of the Royal Society of Canada, Former President, the University of Paris-Dauphine

• Jaime De Melo

• Scientific Director at Ferdi (Emeritus Professor, University of Geneva)

• James Kenneth Galbraith

• Economist

• Jean Gadrey

• Jean Gadrey, former Professor of economics, University of Lille

• Jean-Pierre Ponssard,

• Senior Research Fellow CNRS France

• Jeffrey Sachs

• Economist, Senior UN Advisor

• John C. Quiggin

• Australian Research Council Laureate Fellow and professor at the School of Economics, University of Queensland

• John Hewson

• Former Leader of the Federal Opposition, Australia

Jon D. Erickson
David Blittersdorf Professor of Sustainability Science and Policy

• José Almeida de Souza Jr.

• Economist

• Jusen Asuka

• Professor Tohoku University

• Kate Pickett

• Professor, University of York Research Champion for Justice & Equality

• Kate Raworth

• Senior Visiting Research Associate, Environmental Change Institute, Oxford University

• Katheline Schubert

• Associate Professor at the Paris School of Economics and researcher at the Sorbonne Center for Economics.

• Katrin Millock

• Associate Professor, Paris School of Economics & Research Fellow at CNRS

• Lionel Fontagné

• Professor of Economics at the Paris School of Economics – University Paris 1

• Maria rosa ravelli abreu

• Prof. Universidade Brasilia

• Mariana Mazzucato

• Professor in the Economics of Innovation and Public Value, Director, UCL Institute for Innovation and Public Purpose

• Mark Campanale

• Founder & Executive Director, Carbon Tracker Initiative

• Marzio Galeotti, Ph.D.

• Professor of Environmental and Energy Economics, University of Milan – Milan, Italy

• Maxime Combes

• Maxime Combes, economist for ATTAC

• Michael Jacobs

• Visiting Professor, School of Public Policy, University College London

• Michael Pirson

• Professor, Gabelli School of Business, Fordham University

• Mohammad A Jabbar

• Agricultural Economist, International Livestock Research Institute

• Mouez FODHA

• Professor of Economics, Paris School of Economics & University Paris 1 Pantheon-Sorbonne.

• Mutsuyoshi Nishimura

• Former Ambassador of Japan to the UNFCCC negotiations Research Fellow, The Japan Institute of International Affairs (JIAA)

• Neva Rockefeller Goodwin

• Co-Director, Global Development And Environment Institute, Tufts University

• Nicolas Bouleau

• Mathematician, Economist

• Oliver Sartor, PhD

• Senior Research Fellow Climate and Energy, IDDRI

• Patrick Criqui

• Research Director, CNRS

• Peter A. Victor Ph.D.,FRSC

• Professor, Faculty of Environmental Studies, York University

• Pierre-Richard Agenor

• Professor of International Macroeconomics and Development Economics, University of Manchester

pirax didier

• Prof Ross Garnaut

• Professorial Research Fellow in Economics, Faculty of Business and Economics, University of Melbourne

• Prof. James Renwick (Victoria University of Wellington

• Professor at Victoria University of Wellington, School of Geography, Environment and Earth Sciences

• Prof. Michael Finus

• Chair in Environmental Economics

• Prof. Phoebe Koundouri

• Athens University of Economics and Business, Director of International Center for Research on the Environment and the Economy, Chair Sustainable Development SOlutions Network Greece

• Prof. Simone Borghesi

• President Elect IAERE – Italian Association of Environmental and Resource Economists

• Ramon E. Lopez

• Professor at the University of Chile , Santiago · Departamento de Economía

• Ramón López

• Professor of Economics, Department of Economics, University of Chile, Santiago, Chile


• Professor, Centre Sèvres-Jesuit University of Paris and researcher, ESSEC Business School

• Reyer Gerlagh

• Professor of Economics, Tilburg University, Netherlands

• Richard Denniss

• Chief Economist, The Australia Institute

• Richard Wilkinson

• Emeritus Professor of Social Epidemiology University of Nottingham.

• Rick Van der Ploeg

• Professor of Economics and Research Director of the Oxford Centre for the Analysis of Resource Rich Economies at Oxford University, former Chief Financial Spokesperson in the Dutch Parliament

• Robert Costanza

• VC’s Chair in Public Policy, Crawford School of Public Policy, The Australian National University

• Robert M. Freund

• Theresa Seley Professor in Management Science, Sloan School of Management, MIT

• Serge Reliant

• Economiste

• Seyhun Orcan Sakalli

• Postdoctoral Research Fellow, Department of Economics, University of Lausanne

• Shahriar Shahida

• Co-Chief Investment Officer Constellation Capital Management LLC

• Shuzo Nishioka

• Counsellor, Institute for Global Environmental Strategies

• Slim Ben Youssef

• Professor, ESC de Tunis

• Suzi Kerr

• Senior Fellow, Motu Economic and Public Policy Research

• Takeshi Mizuguchi

• Professor Takasaki City University Of Economics

• Terra Lawson-Remer

• Fellow at the Stanford Center for Advanced Studies in the Behavioral Sciences

• Thomas Porcher

• Associate Professor, Paris School of Business, member of “Les économistes attérrés

• Thomas Sterner

• Chair LOC World Conference of Environmental Economics

• Tim Jackson

• Professor, University of Surrey, UK

• Tom Sanzillo

• Director of Finance for the Institute for Energy Economics and Financial Analysis

• Tom Steyer

• Founder and former co-senior managing partner of Farallon Capital and the co-founder of OneCalifornia Bank

• Valentina Bosetti

• Associate professor at the Department of Economics, Bocconi University, President of the Italian Association of Environmental Economists

• Véronique Seltz

• PhD in Economics

• Yanis Varoufakis

• Greek Economist, Academic and Politician

• Yifat Reuveni

• Head of social-finance innovation JDC College of Management business school, Faculty of Management – Tel Aviv University

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