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The US leads the world when it comes to climate change denial, but most of the world believes its happening now, and something should be done about it.
originally posted by: LDragonFire
I don't think the rest of the world has the political will to militarily attack the USA on this issue.
originally posted by: Xtrozero
originally posted by: LDragonFire
I don't think the rest of the world has the political will to militarily attack the USA on this issue.
Really? "The rest of the world?" Ever go to China, or Russia, or India, Africa, or South America...etc... You think America is doing all the bad stuff to the Earth...lol
I think once China can no longer use a butter knife to cut their air then maybe we are all heading in the right direction.
originally posted by: ausername
How many humans suffered and died recently in India from a relentless extreme heatwave?
These kind of extremes are going to become more common, more widespread, more frequent. Not just heat, but extreme climate shifts, cold, hot, flooding, droughts and regional or isolated devastating weather events. That is climate "change" the ultimate unmitigated future outcome would be considered a near extinction level event.
There really is nothing mankind can do to undo, or stop this process now. It is too close to the point of no return now.
Adding to impending global pain, misery and suffering by attempting to deal with it now in ways that are doomed to fail just seems to be acts of cruelty.
imo
originally posted by: LDragonFire
With the threat from climate change a worldwide issue that will only get worst, what should the other countries of the world do about the climate change denial from the USA?
I don't think the rest of the world has the political will to militarily attack the USA on this issue.
I wonder if the countries of the world could band together and force the USA to comply threw economic means?
NOTHING! There isn't a damn thing the rest of the world can do about it!
The US leads the world when it comes to climate change denial, but most of the world believes its happening now, and something should be done about it.
originally posted by: LDragonFire
a reply to: JDmOKI
Lead by example?
This report constitutes the second part of a major two-phase study on the financial services sector and climate change commissioned by the United Nations Environment Programme Finance Initiatives (UNEP FI) Climate Change Working Group (CCWG).
At the project finance level, data from the World Bank’s Prototype Carbon Fund indicate that
returns can be enhanced by several percentage points, although other practitioners have to date
fared less well.
Making full use of carbon finance opportunities plus other sustainability
benefits (which can increasingly be monetized) can only become more important in future.
However, a clearer picture has emerged of the measures that need to be taken to stimulate greater trading activity, and the
market will grow in the coming years, providing the political will to reduce emissions and
assign carbon a value is there. Forecasts of the future GHG credit trading market project a
rapid growth from $10 billion by 2005 to over $2 trillion per year by 2012.
Recommendations for overcoming these barriers
(1)
The formation of an ‘awareness raising’ task force of senior finance sector executives to inspire
individual financial institutions, industry associations, financial regulators and other industry
umbrella associations to support education and engagement on climate change using this study’s
reports as a blueprint for action.
(2)
The formation of a team to develop a quantitative analytical methodology – the “
Carbon
Asset
Pricing Model” -- for capturing the asset pricing and valuation implications of climate change and
carbon regulations.
(3)
The formation of a parallel project team to examine methods for capturing, monetizing and
optimizing the full range of environmental aspects within project finance settings.
GHG Market Framework Study – Module 1 13 UNEP FI
July 2002 Innovest SVA
From the perspective of changing climate conditions, the derivation of value is relatively
straightforward, at least in principle. Insurers, reinsurers, lenders and investors will need to
adapt the way they conduct their business to account for climatological shifts or face the
prospect of disproportionate financial loss or lower investment returns (or, where economic
productivity is actually enhanced by climate change, missing out on new markets). However,
in practice, actuarial data limitations and other analytical barriers mean that this process of
change will be far from easy.
From a mitigation perspective, however, the value creation process is more complex (see Figure
3). The critical initial step, our research suggests, is the commitment by policymakers to
emissions reductions. This, in turn, provides validation for both emissions trading (and the
various GHG market support services), and the pursuit of low carbon intensive technology
solutions. These market-based activities will lead to the establishment of a ‘price’ for carbon,
which is a prerequisite for GHG assets and liabilities to be included on the balance sheet and for
MOMENTUM ON CLIMATE CHANGE ACTION IS GATHERING PACE.....
At the present time, a number of powerful external forces are converging to make climate change and
carbon-related issues relevant to financial services companies. These include:
Strengthening scientific consensus on the impacts of climate change
E.U. and Japanese ratification of the Kyoto Protocol.
Political progress on GHG mitigation within the U.S., both in the White House and on Capitol Hill
The launch of the Carbon Disclosure Project, a coalition of institutional investors (with collectively over $5
trillion in assets under management) pressing major companies to disclose investment-relevant information
concerning their greenhouse gas strategies and emissions.
The success of the Dutch ERUPT program, in which the Dutch Government paid out nearly US$40M to 5
successful project bids for 4 million metric tons of CO2 allowances.
The experiences of the World Bank’s Prototype Carbon Fund, which is in the process of expand to support
greater market interest, and which has led to the emergence of a series of similar ‘spin-off’ funds.
The formation by Gensec Bank of the first weather hedging products in South Africa, and the intended
expansion of this service to other emerging markets.
The success of Australia’s green energy certificates trading scheme.
Increasing focus on climate change as a corporate governance and accounting issue for pension fund trustees
and fiduciaries.
The steady growth of the emissions trading market, where over 70 transactions have now been reported
involving some 95 million tons CO2eq.
Growing willingness of respected mainstream financial institutions to stir debate over implications of climate
change for the finance and insurance business.
EMISSIONS TRADING MARKETS
Financial institutions appear to be interested in Emissions Trading Schemes for two
reasons:
the chance to make money from trading GHG-related securities; and, the
need to understand the implications of emissions trading for the companies that are
their clients or in which they invest.
Forecasts of the future GHG credit trading market project rapid growth from $10 billion
by 2005 to over $2 trillion per year by 2012, the end of the Kyoto Protocol’s first
commitment period
22
. Leading companies undoubtedly recognize that the finance
sector will play an important role in the operation of this international market. The
UNEP FI, for example, supports emissions trading because it is an economically efficient
market based instrument that encourages the transition to a more sustainable
economy
23
. The formation of regional emissions trading schemes (in the U.K., Denmark.,
Slovakia, Northeast U.S. and, of course, the pan E.U. system under development), and
the various GHG exchanges (the Chicago Climate Exchange, for example) will soon
make emissions trading a reality for all financial institutions.
originally posted by: LDragonFire
a reply to: Wardaddy454
I didn't condone nor call for a attack, I'm not countries of the world......
?
I don't think the rest of the world has the political will to militarily attack the USA on this issue.