This paper evaluates the additional spending needed to meet core targets of selected Sustainable Development Goals (SDGs) while accounting for the associated cost to address climate risks. The SDGs under study are those related to human and physical capital development. An additional 3.8 percent of global GDP, or US$3.4 trillion, of public and private spending will be required by 2030 to achieve a strong performance in the selected SDGs while addressing associated climate risks. This includes an increase of 0.4 percent of global GDP (US$358 billion) compared to estimates that do not account for mitigation and adaptation needs within these sectors. LIDCs and SSA experience the highest climate-related cost augmentation relative to GDP, while EMEs (driven by large Asian emerging economies) bear the largest cost in absolute terms.

This publication serves as a roadmap for exploring and managing climate risk in the U.S. financial system. It is the first major climate publication by a U.S. financial regulator. The central message is that U.S. financial regulators must recognize that climate change poses serious emerging risks to the U.S. financial system, and they should move urgently and decisively to measure, understand, and address these risks. Achieving this goal calls for strengthening regulators’ capabilities, expertise, and data and tools to better monitor, analyze, and quantify climate risks. It calls for working closely with the private sector to ensure that financial institutions and market participants do the same. And it calls for policy and regulatory choices that are flexible, open-ended, and adaptable to new information about climate change and its risks, based on close and iterative dialogue with the private sector. At the same time, the financial community should not simply be reactive—it should provide solutions. Regulators should recognize that the financial system can itself be a catalyst for investments that accelerate economic resilience and the transition to a net-zero emissions economy. Financial innovations, in the form of new financial products, services, and technologies, can help the U.S. economy better manage climate risk and help channel more capital into technologies essential for the transition. https://doi.org/10.5281/zenodo.5247742

Climate change is one of the greatest challenges of this century. Mitigation requires a large-scale transition to a low-carbon economy. This paper provides an overview of the rapidly growing literature on the role of macroeconomic and financial policy tools in enabling this transition. The literature provides a menu of policy tools for mitigation. A key conclusion is that fiscal tools are first in line and central, but can and may need to be complemented by financial and monetary policy instruments. Some tools and policies raise unanswered questions about policy tool assignment and mandates, which we describe. The literature is scarce, however, on the most effective policy mix and the role of mitigation tools and goals in the overall policy framework.

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.

In December 2015, 196 parties to the United Nations Framework Convention on Climate Change (UNFCCC) adopted the Paris Agreement, seen as a decisive landmark for global action to stop human- induced climate change. The Paris Agreement will replace the 1997 Kyoto Protocol which expires in 2020, and it creates legally binding obligations on the parties, based on their own bottom-up voluntary commitments to implement Nationally Determined Contributions (NDCs). The codification of the climate change regime has advanced well, but the implementation of it remains uncertain. This book focuses on the implementation prospects of the Agreement, which is a challenge for all and will require a fully comprehensive burden- sharing framework. Parties need to meet their own NDCs, but also to finance and transfer technology to others who do not have enough. How equity- based and facilitative the process will be, is of crucial importance. The volume examines a broad range of issues including the lessons that can be learnt from the implementation of previous environmental legal regimes, climate policies at national and sub-national levels and whether the implementation mechanisms in the Paris Agreement are likely to be sufficient. Written by leading experts and practitioners, the book diagnoses the gaps and lays the ground for future exploration of implementation options. This collection will be of interest to policy-makers, academics, practitioners, students and researchers focusing on climate change governance.

This book presents the energy system roadmaps necessary to limit global temperature increase to below 2°C, in order to avoid the catastrophic impacts of climate change. It provides a unique perspective on and critical understanding of the feasibility of a well-below-2°C world by exploring energy system pathways, technology innovations, behaviour change and the macro-economic impacts of achieving carbon neutrality by mid-century. The transformative changes in the energy transition are explored using energy systems models and scenario analyses that are applied to various cities, countries and at a global scale to offer scientific evidence to underpin complex policy decisions relating to climate change mitigation and interrelated issues like energy security and the energy–water nexus. It includes several chapters directly related to the Nationally Determined Contributions proposed in the context of the recent Paris Agreement on Climate Change. In summary, the book collates a range of concrete analyses at different scales from around the globe, revisiting the roles of countries, cities and local communities in pathways to significantly reduce greenhouse gas emissions and make a well-below-2°C world a reality. A valuable source of information for energy modellers in both the industry and public sectors, it provides a critical understanding of both the feasibility of roadmaps to achieve a well-below-2°C world, and the diversity and wide applications of energy systems models. Encompassing behaviour changes; technology innovations; macro-economic impacts; and other environmental challenges, such as water, it is also of interest to energy economists and engineers, as well as economic modellers working in the field of climate change mitigation.

The introduction of Agenda 2030 and its 17 Sustainable Development Goals (SDGs) has traced a path for private and public entities interested in pursuing sustainable development. This handbook identifies the recent challenges in accounting research and the SDGs by exploring the evolutionary pathways and future direction of sustainability reporting. It explores the role of businesses as contributors to Agenda 2030 by assuming a multidisciplinary approach and provides a measure of organisations' contributions to the SDGs through the understanding of business strategies and policies on Agenda 2030 integration. The book represents a substantial and multi-faceted contribution to the debate on SDGs accounting by assembling international scholars and practitioners to effectively explore the practice and theory revolving around the current state of the art and highlight future research pathways. By providing a comprehensive evaluation of accounting for the Sustainable Development Goals, this volume will appeal to a wide variety of readers, from students, scholars, researchers, practitioners and policymakers interested in increasing their awareness of Agenda 2030 and offers a significant contribution to the evolution of accounting practices.

. . . this book gives a good overview of major challenges facing policy makers, researchers and ultimately humankind in dealing with climate change. . . The reader also gets a good understanding of how fragmented and transversal the issues of climate change and sustainable development are. Quarterly Journal of International Agriculture . . . a unified, useful and stimulating book which should act as a springboard for further work into what is a very topical and extremely important issue for everyone in the world, not just academics and policymakers. This book serves its intended audience but also deserves to be more widely read. World Entrepreneurship Society Too often, writings on climate change are placed into two categories: climate-change deniers, and climate-change supporters. What this timely and insightful collection of Mohamed Salih s does, is to problematise the issue; taking the debate to a level where it desperately needs to be; asking the thorny questions of how do the politics and international relations of climate impact upon the most vulnerable; the least-affluent; the dwellers of the majority world. In short, Salih challenges us: How did the climate change about climate-change . The responses of his contributors are salient, to-the-point sometimes disturbing but always thought-provoking. Timothy Doyle, Keele University, UK Editing the proceedings of a symposium into a cogent and coherent book is no easy task. This book, a tribute to Professor Opschoor is no exception; with disperse contributions of some highly acclaimed authors covering a wide spectrum of themes. It is a credit to Professor Salih s insight to string them together in the introductory chapter and entice the reader to read on. This book has food for thought on many fronts, reaching far beyond climate change, as did the oeuvre of Hans Opschoor. . . an instructive read. Paul Vlek, Center for Development Research (ZEF), Bonn, Germany It is difficult, if not impossible, to formulate and implement sustainable policy without first understanding the dynamic relationships between nature, society, economics and technology, and research plays a pivotal role in this regard. Climate Change and Sustainable Development is an important book which deals with these issues in the context of climate change and the changing global context of development. It alerts us to the relationship climate change has with two urgent tasks: poverty reduction and sustainable development, which require efforts that span countries, regions and communities. In this interdependent world, argue the authors, a shared vision and common effort are vital to sustaining our life support system. It is a must read. Jacqueline Cramer, The Netherlands Minister for Spatial Planning and the Environment This unique book provides cutting-edge knowledge and analyses of the consequences that climate change will have for sustainable development and poverty reduction within the context of global development. Exploring alternative resource management approaches including federal resource management governance, ecosystem services, digital dematerialization, ecological cities, biofuels versus food, and children and climate change, this innovative volume provides fresh insights on the human condition with regards to the current debates on climate change. The distinguished contributors examine climate change induced processes that present profound challenges to sustainable development and poverty reduction at the local, national and global levels. This groundbreaking study will be a welcome addition for graduate and post-graduate students in development and environmental studies. It will also have great appeal to scientists, policy-makers and researchers in these fields.

Small Developing States (SDS) face substantial challenges in achieving sustainable development. Many of these challenges relate to the small size and limited diversification of their economies. SDS are also among the most vulnerable countries to the impact of climate change and natural disasters. Meeting SDS sustainable development goals goes hand-in-hand with building their climate resilience. But the additional costs to meet development and resilience objectives are substantial and difficult to finance. This work adapts the IMF SDG Costing methodology to capture the unique characteristics and challenges of climate-vulnerable SDS. It also zooms into financing options, estimating domestic tax potential and discussing the possibility of accessing ‘climate funds.’

This edition of the OECD Sovereign Borrowing Outlook reviews developments in response to the COVID-19 pandemic for government borrowing needs, funding conditions and funding strategies in the OECD area.