Overview on Climate Change Mitigation and Adaptation. Main policy dynamics from macro to domestic level. Focus on Carbon Tracker action and message.

1. Initiative
arbon Tracker
Climate Change.
Mitigating the risks,
adapting to the impacts.

2. Initiative
arbon Tracker
Responsive attempt to
reduce vulnerability of
biological systems
Climate Change
Actions to limit CC impact
E.g. Reduction GHG emissions
through CCS, reforestation
Not an either/or it is both mitigation & adaptation.
Mitigation Adaptation

3. Initiative
arbon Tracker
Three Scenarios
But where are we now?
6°
£ 2°
£
2° £
Goldilocks
Scenario
Nightmare
Scenario
Last Minute
Scenario
1 2 3

4. 2° £
1
Initiative
arbon Tracker
Goldilocks Scenario
Policy & regulatory signal in time
to allow orderly transition
and a managed deflation
of the “carbon bubble”.

5. 2
Initiative
arbon Tracker
Nightmare Scenario
Global community fails to
send policy & regulatory signal
catastrophic warming of
3 to 6 degrees.
6°
£

6. 3
Initiative
arbon Tracker
Last Minute Scenario
Action delayed until events drive
political shift,
resulting action swift & severe.
carbon bubble bursts
massive financial shock.
2°
£

7. Initiative
arbon Tracker
International
Overview
Copenhagen disaster
UNFCCC
2005
Kyoto Protocol
2009
Road to Paris?
2015

8. Initiative
arbon Tracker
European Overview
40%
EU 2020 package
2007
EUETSEU ETS
Renewables
Directive
Energy
Efficiency
Key building blocks:
EU 2030 package
20% 20% 20%
27% cont.improv.
2014

9. UK Overview
Initiative
arbon Tracker
budget setting
But we are only small...what about China, US, India?
UK – Climate Change Act2008
UK – Committee on Climate Change

10. Broadening the context...
Initiative
arbon Tracker
This is not about the environment its about the whole economy.

11. A matter of communications...
Initiative
arbon Tracker
Carbon Tracker is translating climate change into the language of finance.
climate change
policy makers
$
investment
community
Financial experts making carbon investment risk visible in the capital markets today.

12. Carbon Tracker Formula
Initiative
arbon Tracker
carbon budgetlisted fossil
fuels reserves
unburnable carbon
stranded assets
potential
current
Listed reserves
are 1/4 of total
known reserves
Current listed reserves (762 GtCO2)
far exceed a quarter of
the carbon budgets
but could double (1541 GtCO2)
762
1541

13. Carbon Tracker Research
Initiative
arbon Tracker
2011 2013 2013 2013
‘This report shows very clearly the gross inconsistency between current valuations
of fossil fuel assets and the path governments have committed to take in order to
manage the huge risks of climate change’
Professor Lord Stern of Brentford, Chair, Grantham Research Institute, LSE

14. Thank you.
Anthony Hobley
CEO, Carbon Tracker Initiative
ahobley@carbontracker.org
Initiative
arbon Tracker