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Petersberg Climate Dialogue to be held virtually this year

Sustainable Recovery**

Livestream recording of “Financing Climate Ambition in the context of
COVID-19”. A sustained green, resilient recovery from COVID-19 requires
significant investments to scale and achieve economy-wide transformation,
particularly in developing and emerging markets. Delivering this
sustainable recovery and creating new opportunities for growth will involve
accelerating the transition towards a low-carbon, resilient future that is
already underway.

Since its inception in 2010, the Petersberg Climate
Dialogue has provided a forum for high-level political discussions,
focusing both on the international climate negotiations and on advancing
climate action on the ground.
This year, the Petersberg Climate Dialogue
will be held virtually for the first time, and will focus on climate
ambition in the context of a green, resilient recovery. See, in particular
Mark Carmey from 41.43 He asks “what can we do to drice climate finance
in support of the transition to a net zero economy?” A related question
is what will be the economics of a post-Covid world? The new economy will
require a massive reallocation of capital. It provides an opportunity to
require companies and sectors to have net zero transition plans. The aim of
his work on Cop-26 is to ensure that every financial decision takes climate
into account. 120 countries have committed to net zero. That means every
company, every sector, every pension fund in those countries should have a
net zero plan which it has disclosed. When countries are designing their
recovery strategies they would do well to use this new financial framework
that is centred around the transition to net zero because that will amplify
the effectiveness. Once the war against Covid in won our ambition should be
to build a planet fit for our grandchildren.

Climate Policy Initiative 29th April 2020

Top regulator who steered banks’ revival after last crash has a new crisis
mission: ‘My green energy plan to spark the economy back to life’. With the
oil price at record lows, Lord Turner concedes that fossil fuels ‘are
suddenly going to look cheap’ as travel resumes – potentially making a
switch to cleaner energy less attractive. But he is adamant that investment
in green fuel would create jobs and give Britain’s post-coronavirus economy
a much-needed boost. For instance, a jobs cull in North Sea oil could be
offset by transferring workers with marine engineering skills to building
bases for offshore windfarms, he says. ‘North-west Europe is blessed with
huge amounts of offshore wind potential, and both the UK and the rest of
Europe should be planning for massive offshore wind developments in the
North Sea that can give us green electricity at a low price,’ he says.
‘It’s a huge strategic opportunity.’ When pressed on whether the Government
should bail out struggling companies, rather than letting some firms fail,
it’s the first time his smooth theorising is rattled. ‘I’m not getting into
the specifics of individual companies,’ he says testily. ‘But any company
that receives a bailout should have green targets attached.’

Daily Mail 2nd May 2020


May 3, 2020 - Posted by | ANTARCTICA, climate change

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