Climate Bonds has posted a new item, ‘Update from Crazy Abu Dhabi: green bonds part of UN Climate Summit / Jeffrey Sachs lays out 7 Step Survival Plan / Ban Ki Moon’s soft power‘
Abu Dhabi is indeed a crazy place: gold-leaf covered 7 star hotels surrounded by desal-water fed green lawns and endless freeways in a hot hot hot and dry land.
Abu Dhabi has been (generously) hosting the 2 day “UN Ascent” preparatory meeting for September’s UN Climate Summit. Lots of governments here and a bunch of others working on Summit components, like me.
There’s been a lot of discussion about green bonds or “green climate bonds”. As World Bank VP Rachel Kyte said “Green Bonds are the biggest climate finance story around today”.
Rachel also inadvertently broke the news of our new Green City Bonds project, to be launched at the UN Climate Summit. Info to follow.
A few minutes ago Jeffrey Sachs (passionately) explained the 7 deep change decarbonization steps needed to avert climate disaster:
- Massive expansion of clean energy.
- All heating becomes electric.
- Massive energy efficiency roll-out.
- Full electrification of vehicles by 2030.
- Bio-storage of CO2: avoid deforestation + active sequestration through soil and new forests.
- Phase out coal unless carbon sequestration is used.
- No new exploration of oil of any kind. None.
UN Secretary-General Ban Ki Moon is giving his inspirational closing address – he’s good. It’s an odd job he has, a bit like modern royalty: no real power, but people turn up when he asks them (convening power). I’ve just sat through a small meeting with African Government Ministers where they were explaining their energy plans to him. He’s like a supervising coach – everyone tells him what they’re doing and he talks warmly of how important it is. It works.
You may view the latest post at http://www.climatebonds.net/2014/05/update-from-crazy-abu-dhabi/ You received this e-mail because you asked to be notified when new updates are posted. Best regards, Sean Kidney [email protected]