The world is not doing enough to mitigate or adapt to the increasingly obvious risks and impacts of an unstable climate. The lack of political will was most recently on display at Climate Week NYC. Despite coming on the heels of a summer of massive climate impacts and a growing body of evidence of risks to global peace and prosperity, too few Heads of State gave climate action the priority it deserves.
The key question is why? Why is climate action not getting the political attention it warrants? And what can we do to change the calculus? E3G has been calling for a new model of climate ambition where international cooperation is strengthened to accelerate the decarbonization of the real economy and better prepare our economies for the growing risks. In turn, progress in these areas is used to drive further national ambition at home and in international negotiations.
We explore this theory of change in this month’s newsletter with a focus on real economy drivers.
We start with a look at how the multi-stakeholder coalitions and new initiatives announced during the Global Climate Action Summit in San Francisco and Climate Week NYC can be translated from positive headlines into sustained positive momentum. Then, Camilla Born urges world leaders, CEOs and city mayors to work together to better prepare our societies for the coming climate impacts. Next, in their respective pieces, Dileimy Orozco and Kate Levick consider the macroeconomic context and systemic risks to the global financial system, while George Triggs looks at recent developments in sustainable finance. Finally, our coal phase out team rate how major economies are doing on their commitment to phase out coal for electricity generation.
Taken together these are critical inputs if we are to build the confidence and willingness of world leaders to throw their political heft behind their domestic decarbonization agenda and step up on the international stage.
Thanks for reading,
Programme Director; Climate Diplomacy, Risk and Security