The former governor of the Bank of Canada, now United Nations special envoy for climate finance, issued this warning on Friday to some 400 people gathered virtually by the Council of International Relations of Montreal (CORIM) .
international","text":"Présentement, nous avons le momentum sur le climat et nous devons avoir le momentum sur la santé, sinon nous allons perdre le momentum sur le climat. Nous devrions avoir le momentum sur la santé en soi, pour ses propres raisons, mais nous perdrons le momentum sur le climat si nous n'accélérons pas l'effort en santé sur le plan international"}}">Right now, we have climate momentum and we have to have health momentum, otherwise we’re going to lose climate momentum. We should have health momentum per se, for its own reasons, but we will lose climate momentum if we don’t accelerate the international health effort.
, did he declare.
Mr. Carney says to himself enormously encouraged by the reactions of individuals – Quebeckers and Canadians – small acts of volunteering, social distancing for others, not necessarily for themselves. That is solidarity, it is to raise the objectives of society above the short-term objectives
, he mentioned speaking of the pandemic.
It tells me that we can raise other fundamental goals, like sustainability, like climate
, but he adds thatinternationally, it’s more difficult
. The slowness of the COVAX effort, by which rich countries have committed to providing vaccines to developing countries, worries him because of its very limited success.
The humanitarian imperative to act everywhere has not been met. This demonstrates the limits of [la] cooperation [internationale] and the need to strengthen it immediately to counter the virus and, at the same time, for the climate.
The parallel between the two crises – health and climate – should serve as a red flag for all international actors.
Despite the multiple and varied and public warnings, we have not invested enough in our capacity to prepare for a pandemic and, despite the scientific evidence, we have underinvested in the response to climate change.
A colossal effort, but achievable
Selon Mark Carney, % at 8% [les émissions de gaz à effet de serre] per year for decades. It’s enormous. But over the years there has been significant progress “,” text “:” the sense of urgency is increasing, even in the G7, but the size of the problem is enormous. We must reduce from 7% to 8% [les émissions de gaz à effet de serre] per year for decades. It’s enormous. But over the years there has been significant progress “}}”>the sense of urgency is growing, even in the G7, but the size of the problem is enormous. We must reduce from 7% to 8% [les émissions de gaz à effet de serre] per year for decades. It’s enormous. But over the years there has been significant progress
.
He now says he expects significant progress at COP26 in Glasgow, UK, in November.
The main objective is to maintain the objective of global warming, to limit it to 1.5 degrees [Celsius]. This objective must remain accessible.
Now, he continues, At this point in time, countries’ targets are compatible with 2.1 degree warming and that is progress. In Paris, it was 2.6 degrees, and now it’s 2.1 degrees according to the International Energy Agency. But the policies of the countries [mènent] at 2.6 or 2.7 [degrés], then we must have more ambition from here to Glasgow
.
Mark Carney is also seeing a shift in the business world, which is beginning to understand the risks and dangers of climate change for its financial results. He reports that the establishment of the Glasgow Financial Alliance for Net Zero (GFANZ) has garnered buy-in from major banks and investment funds with total balance sheets of $ 70 trillion, which have committed to equal net GHG emissions to zero. Although this is a commitment for 2050, he noted that it also included commitments relating to milestones to be reached in 2025 and 2030, strategies for specific sectors and annual progress reports.
000billion dollars and it will grow “,” text “:” This is the hard core of the financial system and it is a very important core with 70,000 billion dollars and it will grow “}}”>This is the hard core of the financial system and it’s a very important core with $ 70 trillion, and it’s going to grow
, he predicted.
60% reduction possible now
And the results are closer to hand than one might think, if the political will is there.
% greenhouse gas emissions now with commercial technologies, says Carney. It pays to reduce by 60% of emissions that exist today. It’s a matter of getting funding – which we do with GFANZ – of having credit policies that are credible and predictable like the carbon tax here in Canada and companies that take responsibility. “,” text “:” With policies that are necessary, like a tax on [carbone] and with advancements in technology, greenhouse gas emissions can actually be reduced by 60% now with commercial technologies, says Carney. It pays to reduce the emissions that exist today by 60%. It’s a matter of getting funding – which we do with GFANZ – of having credit policies that are credible and predictable like the carbon tax here in Canada and companies that take responsibility. “}} “>With policies that are necessary, like a tax on [carbone] and with advancements in technology, greenhouse gas emissions can actually be reduced by 60% now with commercial technologies, says Carney. It pays to reduce the emissions that exist today by 60%. It’s a question of obtaining financing – which we are doing with GFANZ – of having credit policies that are credible and predictable, like the carbon tax here in Canada, and companies that assume their responsibilities.
One of the goals for Glasgow is to make disclosure of financial results related to climate change mandatory. The G7 has gone in this direction and now the big countries like Brazil and China should follow suit.
It’s a dream of mine to have a global carbon tax
, he says. Although he admits that this is not realistic in the short term, he is optimistic that we can fall back on a middle ground.
000$ now –lots of headlines, but not a lot of action– but it’s a market that should be and could be $ 100 billion a year. We are laying the foundations, for a final action plan probably for mid-July and for Glasgow, we will start with this market and this market will be very important for developing countries and for indigenous peoples, even in Canada. “,” Text “:” For Glasgow, we are building a market for global carbon offsets. This market is only $ 300,000 now – a lot of headlines, but not a lot of action – but it is a market that should be and could be $ 100 billion a year. We are laying the foundations, for a final action plan probably for mid-July and for Glasgow, we will start with this market and this market will be very important for developing countries and for indigenous peoples, even in Canada. “}}”>For Glasgow, we are building a market for global carbon offsets. This market is only $ 300,000 now – a lot of headlines, but not a lot of stocks – but it is a market that should be and could be $ 100 billion a year. We are laying the foundations for a final action plan probably for mid-July; and for Glasgow, we will start with this market, and this market will be very important for developing countries and for indigenous peoples, even in Canada.
The movement, he said, is starting to gain popularity in the business world.
A huge number of companies are moving towards net zero. Their main action will be to reduce their total emissions, but in the beginning, to save the carbon budget, we need them to buy these offsets, which will result in a significant flow of capital to those parts of the world that need it the most. .
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