Blistering speech by United Nations Secretary General Antonio Guterres on World Evironment Day urging leaders take the right decisions taking urgent climate action, particularly over the next eighteen months, with concerning temperature trends and increasing climate damage impacts
Antonio Guterres highlighted that
The European Commission’s Copernicus Climate Change Service officially reported May 2024 as the hottest May in recorded history.
This marks twelve straight months of the hottest months ever.
The World Meteorological Organisation reports today that there is an eighty per cent chance the global annual average temperature will exceed the 1.5 degree limit in at least one of the next five years.
In 2015, the chance of such a breach was near zero.
There’s a fifty-fifty chance that the average temperature for the entire next five-year period will be 1.5 degrees higher than pre-industrial times.
Urged financial institutions to stop bankrolling fossil fuel destruction and start investing in a global renewables revolution; To present public, credible and detailed plans to transition [funding] from fossil fuels to clean energy with clear targets for 2025 and 2030;
Called for advertising and PR companies to "stop acting as enablers to planetary destruction. Stop taking on new fossil fuel clients, from today, and set out plans to drop your existing ones. Fossil fuels are not only poisoning our planet – they’re toxic for your brand."
Highlighted that "the Godfathers of climate chaos – the fossil fuel industry – rake in record profits and feast off trillions in taxpayer-funded subsidies.
Called for an effective price on carbon and tax the windfall profits of fossil fuel companies.
He proposed: "We do have a choice: Creating tipping points for climate progress – or careening to tipping points for climate disaster."
He advised that "We are playing Russian roulette with our planet. We need an exit ramp off the highway to climate hell. And the truth is… we have control of the wheel. The 1.5 degree limit is still just about possible."
The UN Human Rights Council at its 48th session recognised, for the first time, that having a clean, healthy and sustainable environment is a human right. The Human Rights Council also established the position of Special Rapporteur on Climate Change.
UN High Commissioner for Human Rights, Michelle Bachelet, in a statement called on Member States to take bold actions to give prompt and real effect to the right to a healthy environment.
“The Human Rights Council’s decisive action in recognising the human right to a clean, healthy and sustainable environment is about protecting people and planet – the air we breathe, the water we drink, the food we eat. It is also about protecting the natural systems which are basic preconditions to the lives and livelihoods of all people, wherever they live,” the High Commissioner said. “Having long called for such a step, I am gratified that the Council’s action today clearly recognises environmental degradation and climate change as interconnected human rights crises.”
Australia's Foreign Affairs minister Julie Bishop took the podium at the United Nations Climate Summit to an almost empty plenary to announce that Australia was balancing economic growth with climate action, with a 5 per cent cut based on 2000 levels by 2020 using $2.55 billion to fund emission reductions under the Government's Direct Action Plan. (Read speech) Two photos tell the story of her address to this climate summit, of the vast gap between the government's rhetoric and actual action.
The first is the more flattering image the Abbott Government would prefer you to see tweeted by Australia's ambassador and permanent representative to the United Nations Gary Quinlan:
The second photo is a wide angle shot encompassing much of the plenary room and shows that most delegates and ministers were not present when Ms Bishop delivered her statement. While this does not in itself mean much, it is symptomatic of Australia being diplomatically shunned for it's retrograde steps on climate policy, including being the first country to abolish a carbon pricing scheme, and the snubbing of the summit by Prime Minister Tony Abbott who attended UN sessions discussing on terrorism the following day.
The UN Climate Change Summit in New York brought many new pledges and commitments on emissions reduction targets, reduced deforestation, and in financing the Green Climate Fund, and many more.
The widow of Nelson Mandela, Graça Machel, addressed the UN Climate summit in the closing ceremony directly after UN General Secretary Ban Ki-moon's closing statement and questioned whether the pledges made so far meet the challenge that we face.
Because our very survival may depend upon these decisions.
"We have reached a tipping point" she said, "So our commitments must be ambitious enough to stop us falling over the precipice. And personally I have mixed feelings. I acknowledge that there is the beginning of understanding of the gravity of the challenge that we face. But at the same time I have the impression that there is a huge mismatch between the magnitude and of the challenge and the response that we heard here today. The scale is much more than what we have achieved."
Machel highlighted the huge marches on Sunday in New York, Melbourne and around the world demanding action on climate justice, which brought applause from those in the chamber.
"So the obligation in my view is to step up the ambition, is to maximise fairness, to increase the momentum, and to make sure that from now to Paris, each one of us has made their homework of matching the magnitude of the problem with the response we are prepared to do. We, citizens of the world, will be watching." Machel told the 120 world leaders and other representatives gathered.
The UN climate summit has resulted in an extensive range of promises and commitments on climate action. But noticeably absent is any mention of commitments from Canada and Australia. These two countries both have high carbon fossil fuel mining industries with governments in denial on taking effective climate action on a national level to reign in emissions and the mining and export of fossil fuels.
Australian, European and U.S. investor groups representing $13 trillion in assets said in a statement issued at a meeting at the UN in New York on Thursday "we cannot wait for a global treaty," They called on the U.S. Congress and other global decision-makers "to take rapid action" on carbon emission limits, energy efficiency, renewable energy, financing mechanisms and other policies that will accelerate clean energy investment and job creation.
Why the strong push from the Investment sector for Government Climate Action? It could be just altruism. But, as always the devil is in the detail. In this case, the push is for carbon trading - Emissions Trading Schemes like Kevin Rudd's Carbon Pollution Reduction Scheme (CPRS), often referred to as Cap and Trade.
I can understand that these people want the Government to set the rules for climate action and reducing carbon use - this gives the market predictability and stability for basing investment decisions on. But these same people have a vested interest in another financial market - the carbon market. It's another way for them to make money. All well and good, except if it fails, so does the prospects for avoiding dangerous climate change.
The meeting was the Investor Summit on Climate Risk, a meeting of 450 global investors at the United Nations that included UN Secretary General Ban Ki-Moon, United States Special Envoy for Climate Change Todd Stern, billionaire investor George Soros, and former Vice President Al Gore.
Australia was represented at the meeting by the Investor Group on Climate Change (IGCC) which represents investors of over $500bn across all sectors of the Australian economy, including many retail and industry superannuation funds.
The meeting called for a legally-binding climate agreement this year with comprehensive long-term measures for mitigation, forest protection, adaptation, finance, and technology transfer, including a global emission reduction target of 50-85% by 2050, consistent with estimates from the Intergovernmental Panel on Climate Change.
"Investors are poised and ready to scale up investments in building the low carbon economy, but without policies that create a stable investment environment our hands are tied," said Anne Stausboll, chief executive officer of the California Public Employees Retirement System (CalPERS), one of larghe largest public pension funds in the USA with more than $205 billion in assets. "U.S. leadership is critical in this regard, including U.S. Senate action to limit and put a price on carbon emissions."
"What investors need most from national and state legislatures are transparency, longevity and certainty," said Kevin Parker, global head of Deutsche Asset Management and member of Deutsche Bank's Group Executive Committee. "Until the U.S. Congress passes climate regulation, America will be at a competitive disadvantage in the development of renewable energy and other climate change industries."
On emission reductions, the statement said "We call on developed countries to establish emission reduction targets of 80-95% by 2050, with interim targets of 25-40% by 2020. Developing countries should have clear action plans that deliver measurable and verifiable emission reductions compared to projected levels."
The statement called for "national regulators worldwide, including the U.S. Securities and Exchange Commission, to require companies to disclose to their investors material climate-related risks and the programs in place to manage those risks."
Excellent stuff! But keep in mind most of the people at this summit are part of the financial and investment establishment. They have a vested interest in market based policies to establish a carbon price - in the Cap and Trade Emissions Trading Systems in place in Europe and proposed for the USA and Australia.
Their statement calls for "governments to put in place market-based policies to establish a carbon price that will signal that investments in carbon-intensive projects may yield lower returns, that new and established zero- or low-carbon technologies can be deployed profitably, and that investment in clean energy infrastructure will yield sound returns."
They "call on governments to support robust, transparent, well-governed markets that include mechanisms for directing private financial flows to low-carbon development in developed and developing countries."
Yet an emissions trading system has great dangers of rorting and not sufficiently encouraging investment to low carbon or carbon neutral projects. Stopping government fossil fuel subsidies should be a major priority, and placing a tax on carbon where it is produced, with subsidies to low carbon alternatives and dividends to the population should be considered.
Friends of the Earth UK prepared a report on carbon trading in November 2009 - 'A Dangerous Obsession (PDF)' - in which they outline that carbon trading could be the next 'sub-prime' crisis.
'A Dangerous Obsession' focuses on the buying and selling of a new artificial commodity - the right to emit carbon dioxide - which the UK and other developed country governments want to see expanded into a massive worldwide market.
According to FoE UK the trade in carbon permits and credits, mainly based in Europe, was worth $126 billion in 2008 and is predicted to balloon to $3.1 trillion by 2020 if a global carbon market takes off.
Releasing the report in November Friends of the Earth's international climate campaigner and author of the report Sarah Jayne-Clifton said: "Pushing a world carbon market as part of a global agreement to tackle climate change risks a double whammy of financial and environmental disaster.
"Carbon trading is failing dismally at reducing emissions, yet allows speculators to grow rich from the climate crisis and hands politicians and industry a get-out clause for polluting business as usual.
"Science tells us rich countries must act first and fast to cut their emissions at home if we are to avert climate catastrophe - and support poorer countries with adequate public money to grow cleanly and adapt to the effects of climate change which they are already feeling.
"The credit crunch has taught us that Governments, not markets are best placed to safeguard our future - at this critical point in the fight against climate change Ministers must step in and lead the way with a new, direct approach to tackling carbon emissions to create a safe and green future for us all."
So what will Australia's CPRS do? Emissions won't begin to fall until 2033, according to Treasury modelling. And the reason they will fall then is the 'predicted' introduction of 'clean coal' technology and import carbon permits from developing countries. Sounds pretty shonky to me. Climate greenwash!
The Investor Statement on Catalyzing Investment in a Low-Carbon Economy (PDF). The Investor Statement was endorsed by four groups representing more than 190 investors. The groups are the Investor Network on Climate Risk (INCR), Institutional Investors Group on Climate Change (IIGCC), Investor Group on Climate Change (IGCC) and the United Nations Environment Programme Finance Initiative (UNEP FI).
Takver is a citizen journalist from Melbourne who has been writing on Climate Change issues and protests including Rising Sea Level, Ocean acidification, Environmental and social Impacts since 2004.
