scholarly journals Climate Transition Risk and the Impact on Green Bonds

2021 ◽  
Vol 14 (12) ◽  
pp. 597
Author(s):  
Yevheniia Antoniuk ◽  
Thomas Leirvik
Keyword(s):  
Climate Change ◽  
Negative Impact ◽  
Climate Change Policy ◽  
Paris Agreement ◽  
Climate Mitigation ◽  
Mitigation And Adaptation ◽  
Change Policy ◽  
Political Events ◽  
Significant Negative Impact ◽  
The Impact

The green bond market develops rapidly and aims to contribute to climate mitigation and adaptation significantly. Green bonds as any asset are subject to transition climate risk, namely, regulatory risk. This paper investigates the impact of unexpected political events on the risk and returns of green bonds and their correlation with other assets. We apply a traditional and regression-based event study and find that events related to climate change policy impact green bonds indices. Green bonds indices anticipated the 2015 Paris Agreement on climate change as a favorable event, whereas the 2016 US Presidential Election had a significant negative impact. The negative impact of the US withdrawal from the Paris agreement is more prominent for municipal but not corporate green bonds. All three events also have a similar effect on green bonds performance in the long term. The results imply that, despite the benefits of issuing green bonds, there are substantial risks that are difficult to hedge. This additional risk to green bonds might cause a time-varying premium for green bonds found in previous literature.

scholarly journals Animals with Regard to Climate Changes - International and European Law Aspects

2019 ◽  
Vol 1 ◽  
pp. 41-58
Author(s):  
Olha Sushyk ◽  
Daria Rosokhata
Keyword(s):  
Climate Change ◽  
Negative Impact ◽  
Climate Change Policy ◽  
Cultural Significance ◽  
Change Policy ◽  
Agricultural Emissions ◽  
Livestock Emissions ◽  
Legal Frameworks ◽  
The One ◽  
The Impact

The article consists of three parts. Firstly, it introduces the connection between animal and climate change. On the one hand, the impact of agricultural emissions (livestock emissions) on climate change has been introduced. On the other hand, it has been presented that the climate change has a negative impact not only for the humankind, but also for the biodiversity (animals) which have an economic and socio-cultural significance. Th second part provides an analysis of relevant international legal frameworks (UN Climate Change regime) that stipulate specifically in relation to livestock emissions globally and existing legal and policy frameworks in the EU that address livestock emissions, namely the Effort Sharing Decision and the Common Agricultural Policy. Thirdly, the paper focuses on the problem of biodiversity conservation though the signifiant pace of climate change has been regulated by a number of international conventions. EU-wide ecological network is being created in Europe that ensures the preservation of the natural environment of animals and the ways of their migration, regardless of the existing borders of the countries. Climate change is already having adverse effcts on animal and those effects are likely to prove devastating in the future. Nonetheless, the relevant harms to animals have yet to become a serious part of the analysis of climate change policy.

scholarly journals Climate Change: Reversing the Past and Advancing the Future

AJIL Unbound ◽  
2021 ◽  
Vol 115 ◽  
pp. 80-85
Author(s):  
Daniel Bodansky
Keyword(s):  
Climate Change ◽  
Climate Change Policy ◽  
The United States ◽  
Paris Agreement ◽  
Montreal Protocol ◽  
Global Institutions ◽  
Change Policy ◽  
Global Action ◽  
Nationally Determined Contributions ◽  
Executive Action

After four years of not simply inaction but significant retrogression in U.S. climate change policy, the Biden administration has its work cut out. As a start, it needs to undo what Trump did. The Biden administration took a step in that direction on Day 1 by rejoining the Paris Agreement. But simply restoring the pre-Trump status quo ante is not enough. The United States also needs to push for more ambitious global action. In part, this will require strengthening parties’ nationally determined contributions (NDCs) under the Paris Agreement; but it will also require actions by what Sue Biniaz, the former State Department climate change lawyer, likes to call the Greater Metropolitan Paris Agreement—that is, the array of other international actors that help advance the Paris Agreement's goals, including global institutions such as the International Maritime Organization (IMO), the Montreal Protocol, and the World Bank, as well as regional organizations and non-state actors. Although the Biden administration can pursue some of these international initiatives directly through executive action, new regulatory initiatives will face an uncertain fate in the Supreme Court. So how much the Biden Administration is able to achieve will likely depend significantly on how much a nearly evenly-divided Congress is willing to support.

scholarly journals Global Recognition of the Importance of Nature-Based Solutions to Climate Change Impacts

2019 ◽  
Author(s):  
Nathalie Seddon ◽  
Elizabeth Daniels ◽  
Rowan Davis ◽  
Rian Harris ◽  
Xiaoting Hou-Jones ◽  
...  
Keyword(s):  
Climate Change ◽  
Global Climate ◽  
Climate Change Policy ◽  
Climate Change Impacts ◽  
Evidence Base ◽  
Paris Agreement ◽  
Change Policy ◽  
Ecosystem Science ◽  
Nationally Determined Contributions ◽  
Science Community

Ecosystems are not merely vulnerable to climate change but, if sustainably restored and protected, are a major source of human resilience. Not only is the evidence-base for the importance of these “Nature-based Solutions” (NbS) growing rapidly, but NbS are featuring with increasing prominence in global climate change policy. Here we report on the prominence of NbS in the 141 adaptation components of the 167 Nationally Determined Contributions (NDCs) that were submitted to UNFCCC by all signatories of the Paris Agreement. In total, 103 nations include NbS in the adaptation component of their NDC, 76 nations include them in both their adaptation and mitigation component, and an additional 27 include them as part of their mitigation plans only. In other words, 130 nations—or 66% of all signatories to the Paris Agreement—have articulated intentions of working with ecosystems, in one form or another, to address the causes and consequences of climate change. However, commitments rarely translate into robust science-based targets. As climate pledges are revised in 2020, we urge the ecosystem science community to work closely with policymakers to identify meaningful adaptation targets that benefit both people and the ecosystems on which they depend.

34 Warming Waters and Souring Seas: Climate Change and Ocean Acidification

2015 ◽  
Author(s):  
Stephens Tim
Keyword(s):  
Climate Change ◽  
Ocean Acidification ◽  
Global Climate ◽  
Law Of The Sea ◽  
Climate Mitigation ◽  
Sea Levels ◽  
Mitigation And Adaptation ◽  
Rising Sea Levels ◽  
The Impact

This chapter examines the impact of climate change and ocean acidification on the oceans and their implications for the international law of the sea. In particular, it assesses the implications of rising sea levels for territorial sea baselines, the seawards extent of maritime zones, and maritime boundaries. It also considers the restrictions placed by the UN Nations Convention on the Law of the Sea (LOSC) upon States in pursuing climate mitigation and adaptation policies, such as attempts to ‘engineer’ the global climate by artificially enhancing the capacity of the oceans to draw CO2 from the atmosphere. The chapter analyzes the role of the LOSC, alongside other treaty regimes, in addressing the serious threat of ocean acidification.

Brazilian Climate Change Law

2016 ◽  
Author(s):  
Karen Alvarenga Oliveira
Keyword(s):  
Climate Change ◽  
Climate Change Policy ◽  
National Policy ◽  
Ghg Emissions ◽  
Governance Structure ◽  
Low Carbon ◽  
Adaptation To Climate Change ◽  
Low Carbon Economy ◽  
Mitigation And Adaptation ◽  
Change Policy

This chapter examines the climate change policy of Brazil. In 2010 at the Sixteenth Conference of Parties in Cancún, Brazil announced its voluntary national target of significantly reducing greenhouse gas (GHG) emissions between 36.1 per cent and 38.9 per cent of projected emissions by 2020. These targets were defined in the Brazilian National Policy on Climate Change (PNMC). The PNMC establishes principles, guidelines, and economic instruments for reaching the national voluntary targets. It relies on sectoral plans for mitigation and adaptation to climate change in order to facilitate the move towards a low-carbon economy. The PNMC defined various aspects related to the measurement of goals, formulation of sectoral plans and of action plans for the prevention and control of deforestation in all Brazilian biomes, and governance structure.

China will resist becoming climate change leader

2017 ◽  
Keyword(s):  
Climate Change ◽  
Climate Change Policy ◽  
The United States ◽  
Paris Agreement ◽  
Climate Impacts ◽  
Content Type ◽  
Pull Out ◽  
Change Policy ◽  
Trading Scheme ◽  
Export Industries

Subject China's climate change policy after US withdrawal from the Paris Agreement. Significance Beijing is seen as a potential global leader on climate change following US President Donald Trump’s June 2 announcement that Washington will pull out from Paris Agreement. China, the world’s largest greenhouse gas emitter, has already won applause simply by promising to honour existing commitment to the international climate accord. Impacts China prefers to aid developing countries through its South-South fund, so it is unlikely to contribute to the Green Climate Fund. Concerns over competitiveness, especially in export industries, will weaken the national carbon trading scheme due to launch this year. China will negotiate energy sector deals with the United States on economic criteria rather than environmental or climate impacts.

Prospects for Climate Change Litigation in China

2019 ◽  
Vol 8 (02) ◽  
pp. 349-377 ◽  
Author(s):  
Yue Zhao ◽  
Shuang Lyu ◽  
Zhu Wang
Keyword(s):  
Climate Change ◽  
Climate Change Policy ◽  
Low Carbon ◽  
Regulatory State ◽  
Public Authorities ◽  
Public Interest Litigation ◽  
Legal Rules ◽  
Legal Traditions ◽  
Change Policy ◽  
The Impact

AbstractWhile legal scholarship seeks mainly to assess the impact of climate change litigation (CCL) on the regulatory state and on climate change policy in common law countries, the potential influence of government climate policy on the judicial practices of jurisdictions with different legal traditions attracts much less attention. This article fills the gaps by exploring how courts in China, an authoritarian country with a civil law tradition, react to government climate policies and how this judicial response might affect relevant legal rules and eventually contribute to climate regulation. An empirical analysis of 177 Chinese judicial cases reveals that CCL in China consists mostly of contract-based civil actions steered by the government's low-carbon policies. Moreover, although the prospects of CCL against public authorities in China remain very bleak, there is scope for the emergence of tort-based CCL, backed by government policies. In this respect, recent tort-based public interest litigation on air pollution in China may serve as a substitute or, more promisingly, a gateway to the emergence of a tort-based branch of Chinese CCL.

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