“The world has to move forward without the US” — PIK Research Portal

1/09/2016 – Science cannot expect positive climate action from President-elect Donald Trump, says Hans Joachim Schellnhuber, Director of the Potsdam Institute for Climate Impact Research. “The world has now to move forward without the US on the road towards climate-risk mitigation and clean-technology innovation,” he states.

“President-elect Donald Trump’s stance on global warming is well known,” says Schellnhuber, who is also a member of the National Academy of Sciences of the United States. “Ironically, he contributed to the popularity of our recent ‘Turn down the heat’-report series for the World Bank by attacking it on Twitter. Yet apart from this, science cannot expect any positive climate action from him. The world has now to move forward without the US on the road towards climate-risk mitigation and clean-technology innovation. The US de-elected expertise and will likely show a blockade mentality now, so Europe and Asia have to pioneer and save the world.”

“Formally leaving the Paris Agreement would take longer than one Presidential term, yet of course the US could simply refuse reducing national emissions which would mean a de facto exit out of international climate policy,” Schellnhuber adds. “Now the US are one of the world’s biggest economies, and even just four years of unbridled emissions staying in the atmosphere for many hundreds of years would make a substantial difference. The climate system doesn’t forget, and it doesn’t forgive. The US is prone to potentially devastating climate change impacts. Hurricanes hit US coastal cities, the California drought affected farmers, and a state like Florida is particularly exposed to sea-level rise. Sadly, in the long run nature itself might show the US citizens that climate change as a matter of fact is not a hoax. But it might be too late.”

Source: “The world has to move forward without the US” — PIK Research Portal

After poisoning and dividing America, Donald Trump has won an ugly victory. The Conversation

9 November 2016
“….In truth, the sickness this election has brought to the surface has been brewing for a long time. Trump is a symptom, not just a pathogen. He has shown a genius for channelling the grievances and insecurities of those disaffected by economic and social changes in the US – primarily, though not solely, working-class whites. With this uncanny skill, he has magnified a form of identity politics the Republicans have long been using to appease and mobilise their base. This experiment in political engineering began in earnest back in the early 1990s. It was until recently an insidious thing, usually advanced via dog-whistle tactics. Trump has picked it up and turned into a blunt instrument as he doubled down on his pursuit of a core white vote and eschewed any serious appeals to minorities….”

Read the article here:

Source: After poisoning and dividing America, Donald Trump has won an ugly victory

The Great Investment Turnaround: how to finance a sustainable world economy — PIK Research Portal

07/20/2016

– Banks and insurers can play a crucial part in stabilizing the climate, while at the same time safeguarding their clients’ assets. Leading representatives of finance and climate research will discuss the best strategies for a turnaround in investing this Thursday in Berlin. The event is hosted by the Swiss global bank UBS, the French multinational insurance firm AXA, CDP, the European innovation initiative Climate-KIC, Humboldt-Universität zu Berlin and the Potsdam Institute for Climate Impact Research (PIK).

Divestment – the diversion of capital from fossil fuel industries to green innovation and sustainable businesses – is a new approach to reducing greenhouse-gas emissions, which could turn out to be a global “game changer”.

Already today, investments of billions of Euros are being redirected. Pioneered by students of wealthy US universities, divestment has reached financial big shots like Allianz by now: the financial services company announced its intention to divest from its assets in coal mining. The foundation of the legendary US oil dynasty Rockefeller plans to divest their funds from the fossil fuel industry as well.

“The risks of climate change affect everyone and everything. When the finance sector now divests billions from the fossil business, this does not only reflect a moral responsibility but also makes good business sense,” says PIK director Hans Joachim Schellnhuber, co-initiator of the conference. “While weather extremes increase already, many of the biggest climate impacts, like the consequences of sea-level rise, will become perceptible only after it would be too late to act. Therefore it is important for the finance sector to recognize the warnings of science and to ramp up sustainable investments as soon as possible. The Paris Agreement substantiates that the nations of the world aim at reaching zero emissions by 2050. This means we are now in year one of the Great Transformation. Whoever still invests in coal and oil will not only damage the environment, but eventually also lose a lot of money.”

“Recognize the possible economic and social impacts of climate change”

„As a global bank it is of major importance to recognize the possible economic and social impacts of climate change, in order to better prepare us and our clients,” says Axel Weber, Chairman of the Board of Directors of UBS Group AG. “The financial sector is working hard to lay the foundations for filling gaps in financing climate action and to support nations in delivering on their corresponding commitments. We aim for a sensible long-term allocation of capital that is congruent with a low-carbon economy.”

Christian Thimann, Global Head of Strategy, Sustainability, and Public Affairs at AXA Group and Vice-Chair of the FSB Task Force on Climate-related Financial Disclosure, says: “Finance has an important role in addressing climate change, because it steers long-term investment. Investors need to understand how companies address climate change in their strategies, which goes well beyond the current carbon footprint. Under the mandate of the G20 and the Financial Stability Board, the Task Force on Climate-related Financial Disclosure seeks to develop consistent voluntary disclosures by companies and enhance investor understanding of climate-related business risks and opportunities. Such disclosures and better investor understanding will foster implementation of the COP21 agreement.”

„Divestment is one of the most potent signals of investor discontent”

Susan Dreyer, CDP Country Director Germany, Austria, Switzerland adds: „Divestment is one of the most potent signals of investor discontent and can be a valuable method to manage portfolio risk, given climate risks are becoming more urgent every day. Having built a platform for transparent and comparable climate strategies, into which 5600 companies worldwide are voluntary reporting today, CDP knows of the impact investor engagement can unfold. Shareholder resolutions or setting joint reduction targets are good examples. And yet, the clear signal from both civil society and investors that fossil based business models do not have a future in the decarbonized world of 2050, is helpful and needed.”

Source: The Great Investment Turnaround: how to finance a sustainable world economy — PIK Research Portal

Dakota Access protests poised to become political debacle for American oil and gas industry – The American Energy News : The American Energy News

Industry leaders, including Kelcy Warren, have mishandled Dakota Access pipeline protest right from the beginning Six weeks ago, I warned that the Dakota Access pipeline protest was going to be the next Keystone XL issue for the American oil and gas industry. I was wrong. It’s going to be much worse. Eco-activists have acknowledged that opposing …

Source: Dakota Access protests poised to become political debacle for American oil and gas industry – The American Energy News : The American Energy News