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This report examines the contribution that corporate reporting of greenhouse gas (GHG) emissions makes to the UK meeting its climate change objectives. Current research shows that businesses are considering their environmental impact at the highest level. 62 per cent of FTSE all-share companies reported quantified figures on climate change or energy use in their 2009 annual reports. Measuring emissions, then reporting, enables enabling target-setting which leads to emissions reductions. There is significant and growing interest from investors in GHG emissions data and investor pressure is one of the main drivers for reporting. Though there are costs in the reporting process, the research found additional benefits for companies in areas such as reputation, brand value, improving investor relations and being able to respond to shareholder requests.
The GHG Protocol Corporate Accounting and Reporting Standard helps companies and other organizations to identify, calculate, and report GHG emissions. It is designed to set the standard for accurate, complete, consistent, relevant and transparent accounting and reporting of GHG emissions.
Climate change resulting from CO2 and other greenhouse gas emissions poses a huge threat to human welfare. To contain that threat, the world needs to cut emissions by about 50 per cent by 2050, and to start cutting emissions now. A global agreement to take action is vital. A fair global deal will require the UK to cut emissions by at least 80 per cent below 1990 levels by 2050. In this report, the Committee on Climate Change explains why the UK should aim for an 80 per cent reduction by 2050 and how that is attainable, and then recommends the first three budgets that will define the path to 2022. But the path is attainable at manageable cost, and following it is essential if the UK is to play its fair part in avoiding the far higher costs of harmful climate change. Part 1 of the report addresses the 2050 target. The 80 per cent target should apply to the sum of all sectors of the UK economy, including international aviation and shipping. The costs to the UK from this level of emissions reduction can be made affordable - estimated at between 1-2 per cent of GDP in 2050. In part 2, the Committee sets out the first three carbon budgets covering the period 2008-22, and examines the feasible reductions possible in various sectors: decarbonising the power sector; energy use in buildings and industry; reducing domestic transport emissions; reducing emissions of non-CO2 greenhouse gases; economy wide emissions reductions to meet budgets. The third part of the report examines wider economic and social impacts from budgets including competitiveness, fuel poverty, security of supply, and differences in circumstances between the regions of the UK.
Economic development, population growth and poor resource management have combined to alter the planet’s natural environment in dramatic and alarming ways. For over twenty years, considerable research and debate have focused on clarifying or disputing linkages between various forms of environmental change and various understandings of security. At one extreme lie sceptics who contend that the linkages are weak or even non-existent; they are simply attempts to harness the resources of the security arena to an environmental agenda. At the other extreme lie those who believe that these linkages may be the most important drivers of security in the 21st century; indeed, the very future of humankind may be at stake. This book brings together contributions from a range of disciplines to present a critical and comprehensive overview of the research and debate linking environmental factors to security. It provides a framework for representing and understanding key areas of intellectual convergence and disagreement, clarifying achievements of the research as well as identifying its weaknesses and gaps. Part I explores the various ways environmental change and security have been linked, and provides principal critiques of this linkage. Part II explores the linkage through analysis of key issue areas such as climate change, energy, water, food, population, and development. Finally, the book concludes with a discussion of the value of this subfield of security studies, and with some ideas about the questions it might profitably address in the future. This volume is the first to provide a comprehensive overview of the field. With contributions from around the world, it combines established and emerging scholars to offer a platform for the next wave of research and policy activity. It is invaluable for both students and practitioners interested in international relations, environment studies and human geography.
"The Fight for Climate after COVID-19 draws on the troubled and uneven COVID-19 experience to illustrate the critical need to ramp up resilience rapidly and effectively on a global scale. After years of working alongside public health and resilience experts crafting policy to build both pandemic and climate change preparedness, Alice C. Hill exposes parallels between the underutilized measures that governments should have taken to contain the spread of COVID-19 -- such as early action, cross-border planning, and bolstering emergency preparation -- and the steps leaders can take now to mitigate the impacts of climate change. Through practical analyses of current policy and thoughtful guidance for successful climate adaptation, The Fight for Climate after COVID-19 reveals that, just as our society has transformed itself to meet the challenge of coronavirus, so too will we need to adapt our thinking and our policies to combat the ever-increasing threat of climate change." --
How knowing the extreme risks of climate change can help us prepare for an uncertain future If you had a 10 percent chance of having a fatal car accident, you'd take necessary precautions. If your finances had a 10 percent chance of suffering a severe loss, you'd reevaluate your assets. So if we know the world is warming and there's a 10 percent chance this might eventually lead to a catastrophe beyond anything we could imagine, why aren't we doing more about climate change right now? We insure our lives against an uncertain future—why not our planet? In Climate Shock, Gernot Wagner and Martin Weitzman explore in lively, clear terms the likely repercussions of a hotter planet, drawing on and expanding from work previously unavailable to general audiences. They show that the longer we wait to act, the more likely an extreme event will happen. A city might go underwater. A rogue nation might shoot particles into the Earth's atmosphere, geoengineering cooler temperatures. Zeroing in on the unknown extreme risks that may yet dwarf all else, the authors look at how economic forces that make sensible climate policies difficult to enact, make radical would-be fixes like geoengineering all the more probable. What we know about climate change is alarming enough. What we don't know about the extreme risks could be far more dangerous. Wagner and Weitzman help readers understand that we need to think about climate change in the same way that we think about insurance—as a risk management problem, only here on a global scale. With a new preface addressing recent developments Wagner and Weitzman demonstrate that climate change can and should be dealt with—and what could happen if we don't do so—tackling the defining environmental and public policy issue of our time.
The Government has highlighted the importance of the EU Emissions Trading Scheme (ETS) in providing the cornerstone of its policy framework to tackle climate change. The Committee published its report on the Scheme (HCP 70, session 2006-07; ISBN 9780215032720) in March 2007, in which it made an assessment of the likely impact of the ETS to 2012 and its implication for the UK Climate Change programme. This report contains the Government's reply to the Committee's report, together with the Committee's thoughts on that reply. Amongst its findings, the Committee concludes that emissions trading can be very valuable, enabling emissions cuts to be made in the most economically efficient manner irrespective of location. However, their report raises ongoing concerns about i) the transparency of the reporting process on emissions trading and the risk that the complexities of such transactions might obscure whether they are reducing the full amount of emissions they ostensibly represent. It is especially important to get the transparency of reporting right at this stage, given the Government's plans under the forthcoming Climate Change Bill, to make use of international emissions trading within a national carbon budgeting system; and ii) the Government's presentation in some publications of the purchase of carbon credits by the UK as being, in practice, synonymous with reducing emissions within the UK, since buying emissions credits from other countries does not necessarily translate into cutting emissions, at home or abroad.
This report examines the draft Climate Change Bill, which published in March 2007 as Command paper Cm 7040 (ISBN 9780101704021). Target setting alone cannot deliver policy objectives, but enshrining one in law will strengthen the Government's resolve to achieve it, ensure greater public accountability, and give confidence to the business community whose investment decisions are central to meeting the target. The Committee recommends a number of changes to the bill. Inconsistency in language, with "UK carbon account" and "UK carbon dioxide emissions" seemingly used interchangeably, should be addressed. There should not be an upper limit on the 2020 target (26-32 per cent reduction in carbon dioxide emission), and the Bill should make provision for both the 2020 and 2050 targets to be revised, though only in an upwards direction. The provision to amend a budget more than a year after the end of a budgetary period is seen as making a nonsense of the concept of budgetary periods, and should be removed completely. The proposed Committee on Climate Change, rightly composed of experts, should not appear to give more representation to economic interests over environmental ones. The resources proposed for the Committee may prove inadequate. The Committee recommends that the impact of climate change on biodiversity should be added to the Bill.
Emissions trading is central to the Government's efforts to reduce greenhouse gas emissions in the UK. This inquiry examines the prospects for a global carbon market and the implications of this for further development of the European Union Emissions Trading System (EU ETS). It reviews the impact and future prospects for the EU ETS in meeting the Government's twin objectives of reducing emissions at lowest cost and setting a carbon price that delivers investment in low-carbon technologies. The EU ETS has emissions caps set too high to force emitters to make the often costly investment decisions which would reduce emissions. The recession has only served to loosen what little constraint the cap provided. The carbon price has been too low to encourage the necessary investment in low-carbon processes and infrastructure. The cap mechanism therefore needs to be significantly tightened. This should be supported by cancelling 'new entrant reserve' allowances and auctioning as many allowances as possible, rather than giving them away for free (with the revenues possibly hypothecated to climate change measures). The Government should explore the possible use of a carbon tax. It should also encourage more use of allowance auctions with reserve prices, more use of incentives for low-carbon power generation and emissions performance standards for electricity generation. The emphasis should also be on harmonising the approach internationally, and on extending effective emissions trading systems. The Committee lists 19 conclusions and recommendations.