This post is by Nick Robins, professor in practice for sustainable finance at the Grantham Research Institute.
At the UN climate conference last December, 53 countries including the UK, signed the Silesia Declaration fleshing out the commitment to implement the Paris Agreement, by taking into account “the imperatives of a just transition of the workforce and the creation of decent work and quality jobs”. For the Polish host the case was clear: “considering the social aspect of the transition towards a low carbon economy is crucial for gaining social approval for the changes taking place.”
The need for a strong social dimension to climate policy has also been displayed on the streets of Paris, with the initial protests by the gilets jaunes prompted by an increase in carbon taxes. Read more
This post is by Jenny Bird, Dr Florian Kern, Dr Paula Kivimaa and Dr Karoline Rogge from the Centre on Innovation and Energy Demand.
Prior to the era of Donald Trump, tweeting was an unusual way to make a government announcement. But a tweet from the UK team at the 2014 UN climate summit in New York declared David Cameron’s intention to “phase out existing coal over the next 10-15 years”. Read more
Reading the news, it’s hard to know what to make of the UK’s low carbon progress. On Christmas Day we were running on 40 per cent renewable power, and earlier last year we switched all our coal fired power stations off for the first time in 130 years. Read more
This post is by Mariana Mazzucato, RM Phillips professor in the economics of innovation, SPRU, University of Sussex, author of The entrepreneurial state: debunking public vs private sector myths and Green Alliance trustee.
Speaking at the start of the COP21 meeting in Paris, President Obama told delegates:
“We have proved that strong economic growth and a safer environment no longer have to conflict with one another; they can work in concert with one another.”
He’s right that a green economy need not come at the expense of growth. Policy makers must also now recognise that we cannot rely on the private sector to bring about the kind of radical reshaping of the economy that is required. As Bill Gates recently acknowledged, only the state can provide the kind of patient finance and direction required to make a decisive shift.
This post is by Saker Nusseibeh, chief executive officer of Hermes Fund Managers. It is the foreword to Green Alliance’s new report The future savings challenge, produced in association with Hermes.
In the debate about the future of the financial system and the reforms needed to ensure that it is better positioned to serve its proper purpose in society, what is often forgotten is that the investment industry is merely an agent for ordinary savers, who are often excluded from the discussion by the ‘professionals’ and the academics. Such exclusion reflects the disassociation of the ultimate asset owners from the actions undertaken by their agents, which in many ways has contributed to the dysfunctionality of the industry. Read more