May 12, 2017 (Investorideas.com Newswire) The task force on climate policy and finance has proposed policy options for the G20 with the intent of achieving the objectives of the Paris Agreement.
The policy brief, Towards a comprehensive approach to climate policy, sustainable infrastructure, and finance, was published as part of the Think Tank 20 (T20) dialogues in anticipation of the 2017 G20 summit.
"Infrastructure is the Marshall Plan of the 21st century, it will cement Europe and will be a foundation for Canada’s climate commitments," says Céline Bak, senior fellow at the Centre for International Governance Innovation, who co-authored the brief and co-chairs the task force on climate policy.
Leading with the point that G20 countries are responsible for roughly 80 per cent of global energy use and CO2 emissions, the brief proposes that:
1. G20 countries should include targets on quantity and quality of sustainable infrastructure consistent with the Paris Agreement.
2. G20 countries should undertake systematic assessments of current investments and impediments to sustainable infrastructure.
3. The G20 should invite global governance and finance institutions working in cooperation with other international organizations to establish common definitions and standards, and set targets for sustainable infrastructure.
4. The G20 should invite the Financial Stability Board (FSB) to establish a platform to exchange experiences and develop approaches to disclosure on climate-related financial risks.
5. Public and private-sector financial institutions should adopt shadow carbon pricing in internal decision-making as an instrument to help reduce climate-related risk in their investment portfolio.
6. G20 Finance Ministers should commit to a peer review process to assess the adequacy of the current carbon pricing systems.
7. G20 members should set 2022 as a target date for eliminating fossil fuel subsidies, including both production and consumption subsidies.
8. G20 should develop a carbon pricing roadmap, agree on a minimum and rising carbon price broadly, while maintaining social equity though increased access to sustainable infrastructure. G20 countries should continue bilateral peer-review of carbon pricing systems.
For an interview with Céline or for more information, please contact:
Allison Leonard, CIGI Communications Advisor
+1 519 885 2444 ext 7205
+1 519 722 6537
We are the Centre for International Governance Innovation: an independent, non-partisan think tank with an objective and uniquely global perspective. Our research, opinions and public voice make a difference in today’s world by bringing clarity and innovative thinking to global policy making. By working across disciplines and in partnership with the best peers and experts, we are the benchmark for influential research and trusted analysis.
This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release on the Investorideas.com newswire http://www.investorideas.com/News-Upload/
Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.