Climate Change Advisory Council Ireland’s Post

Commissioner-Designate for Budget, Anti-Fraud and Public Administration, Piotr Serafin, had his hearing at the European Parliament today, and we listened closely👂 👏 It's encouraging to hear him acknowledge the massive investment needed for a green transition 👍 It's positive that he is committed to financing the green transition and recognises the scale of investment needed. He also mentioned exploring tools to mainstream horizontal policy goals like climate action, and emphasised applying the "Do No Significant Harm" (DNSH) rule across the entire EU budget. 💸 However, there is no concrete plan to address the significant green finance gap of 500 billion, and his commitments on the scale of green spending remain vague. 💶 Let's be clear: achieving a just and green transition requires significant public investment. We need a clear commitment to mobilising the necessary resources to make it happen. #EPHearings #EPHearings2024

Act Now for a #SustainableFuture 🌍 The Climate Change Advisory Council Ireland warns that Ireland must reduce emissions by 67% by 2040 or face significant costs. This is a critical moment for businesses to act. Thanks to our innovative funding model, we help you achieve your renewable energy and energy efficiency goals at Vivid Edge without upfront costs. Don’t let competing priorities hold you back, take action today to secure a cleaner, more sustainable future. Message Richard Huggard to learn how we can support your journey to sustainability. 🌱 #EnergyEfficiency #ClimateAction #Sustainability

The EPRS published a new article on the impact of sustainable finance in Europe. It gives a summary on the legislative landscape, including a discussion on the effectiveness of green bonds (yes, they are effective). Not surprisingly, the briefing highlights the high-regulatory complexity and the need of harmonising data and methodologies (carbon accounting). The article is clear and it provides many useful references to relevant scientific articles and reports: https://buff.ly/3MZVjnY

Join the European Commission and the Platform in a deep-dive discussion about the extent to which the Taxonomy and the wider Sustainable Finance Framework is working on the ground. We will delve into the last Platform report which outlined a methodology for monitoring capital flows to sustainable investments using the SSF as the defining frame. Lastly, we will debate on some of the areas that are at the core of a work-in-progress report on transition plans.

Very insightful practices on green budgeting!

The Federal Government in Canada is a leader in Green Budgeting practices in OECD countries. Today’s publication, Green Budgeting in the Government of Canada looks at the progress achieved by the Department of Finance Canada by including climate and environmental considerations in Federal budget proposals. Congratulations to Thomas Larouche, Trinish Padayachee, Doug Nevison, Sara Barnes, and Zachary Rosentzveig in the Department of Finance Canada in the development of the report, and to OECD colleagues for contributions to the work by Titouan Chassagne, Laurence Dynes, Anne Keller, Eva Ullinger, and Camila Vammalle. The report, available in English and French, contributes to the resources available through the OECD Paris Collaborative on Green Budgeting and the OECD Senior Budget Officials. #SBO #Budgeting #GreenBudgeting https://lnkd.in/eGmuFmG7

Consumers increasingly want to invest sustainably or in green technologies such as a heat pump or home renovation. This requires truly green investment options and affordable financing to be available. In recent years, laws have been introduced to facilitate this. Unfortunately, many consumers are still too often prevented from making the choices that conform to their values and preferences due to ineffective rules. The EU should fix this during the next legislative cycle by strengthening existing rules and closing regulatory gaps. Our new position paper 👇 and 👉 https://lnkd.in/eDm924P4

[MANIFESTO] 🗝🔓 We identified 8 key actions to achieve a green, cost-efficient, competitive and resilient EU economy. Here’s our key action # 1️⃣! Policy makers shall undertake a science-based impact climate and environmental assessment prior to developing any new legislation that directly, indirectly or potentially effects the availability of wood resources from the forest. In line with this request, it is important to: 🇦 assess the cumulative effect of legislation related to the supply of raw wood materials and consequent multiple economic impacts including on employment and living in remote rural areas, 🇧 agree that targets for the carbon sink of forests cannot be used to offset emissions from fossil-intensive sectors especially if this results in a reduction of raw material supply for the wood products industry, 🇨 nominate the Secretariat General as the DG responsible for policy coherence for all legislation impacting on forest-based industries. 🚀 Curious to know what are the 7 other key actions for decision makers to achieve a green, cost-efficient, competitive and resilient EU economy? 👉 Check out our Manifesto for the 2024-2029 political term: www.cei-bois.org/manifesto

New taxonomy just dropped. Here's what Karine Peloffy, CAFA's legal architect and Lawyer & Sustainable Finance Project Lead at Ecojustice Canada, had to say about it: “This taxonomy announcement was meant to settle what does and doesn’t count as a ‘sustainable investment’ — an ingredient in a broader effort to align Canada’s financial sector with Canada’s climate commitments, and ensure one isn’t working actively against the other. Instead, what we got was yet another “plan to eventually make a plan” that leaves the door open to considering fracked fossil gas as a climate solution, and brings us no closer to reining in the climate-heating investment practices of the financial sector. If decision-makers are looking for inspiration to bring much-needed clarity to this sector, I’d strongly recommend they borrow from the common-sense principles found in the proposed Climate-Aligned Finance Act (CAFA), currently before the Senate.” Read more here 👉 https://hubs.ly/Q02SSB300 #CAFA #SustainableFinance #cdnpoli #lng #frackedgas #fossilgas

📘 New Publication! Our chapter, "Policies to Mobilize Finance for Low-Carbon Transition," co-authored with Marco Amendola and Marco Valente, is now published in The Elgar Companion to Energy and Sustainability: Interdisciplinary Perspectives on the Sustainable Development Goals. This work explores how financial and fiscal policy measures can help manage climate risks and support the low-carbon transition. You can find the book here: https://lnkd.in/eet9iKAZ The chapter is available at this link https://lnkd.in/esGhvXMX. In this interdisciplinary volume, our chapter is featured alongside insightful contributions from other experts: Nadia Ameli, Hugues Chenet, Etienne Espagne, @Francesca Larosa, PhD, Sumit Kothari, Louison Cahen-Fourot, Jamie Rickman, and Carla Sciarra. Special thanks to Nadia Ameli and the editorial team for bringing this important volume together. It is an honor to be part of such a rich and collaborative effort! Looking forward to feedback from those interested in energy, sustainability, and policy! #ClimateFinance #Sustainability #EnergyTransition #Research #ClimateRisks #FinancialPolicies #FiscalPolicies