October 2018    
Let’s get real about how the real economy is shaping climate ambition 

Dear reader,

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,

Claire Healy

Programme Director; Climate Diplomacy, Risk and Security

Ryan-cheng-unsplash Blog — 4 October 2018
A new model of climate ambition
by Claire Healy
A barrage of new climate announcements was recently on display at both Climate Week NYC and the Global Climate Action Summit in San Francisco. How can these commitments go from a few days of positive headlines into real sustainable change?

Kiwihug-266154-unsplash Blog — 20 September 2018
The Guterres Climate Summit will fail if we don’t take climate resilience seriously
by Camilla Born
This time next year, UN Secretary General António Guterres will host his ‘Climate Summit’. If he is to succeed, he must show the international community is taking climate impacts seriously.

Peter-court-unsplash Blog — 20 September 2018
Ten years on: the chance for a positive legacy of the financial crisis
by Dileimy Orozco, Kate Levick
The 2008 financial crisis created a need to re-evaluate the financial system, with a view to reconnecting finance and the real economy. Ten years after Lehmann Brothers filed for bankruptcy, policymakers should continue seeking ways to make finance more effectively serve the broader economy.

money grass Blog — 3 October 2018
The development of a global sustainable finance system: an update from Climate Week NYC
by George Triggs
In a globally connected financial system, it is more important than ever to coordinate, collaborate and learn from each other. Is sustainable finance the key to achieving all three?

Excavator at garzweiler lignite mine Summary — 21 September 2018
Decision time for coal in Germany: Summary of 2018 G7 Coal Scorecard report
by Chris Littlecott, Louise Burrows, Alexander Reitzenstein, Pieter de Pous, Rebekka Popp
Our fourth annual G7 Coal Scorecard is out, providing a look at how G7 countries are doing on phasing out coal use for electricity generation. Find out how the G7 nations are faring here.

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'International flags'
Climate Diplomacy
Driving up ambition for action on climate change. A portfolio of our climate diplomacy work, helping to shape the strategic planning of governmental and non-governmental actors.
Featured document
 G7 Coal Scorecard 2018 - Fourth Edition - Decision time for coal in Germany
Report — by Chris Littlecott, Louise Burrows, Alexander Reitzenstein, Pieter de Pous, Rebekka Popp

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