Events

THESys Graduate Program member Luis Zamarioli has recently published a paper in nature climate change (read it here). The paper's findings will be presented and discussed in two webinars, held on July 15th at 10 AM (register here) and 5 PM (register here) respectively.

The paper differentiates two financial dispositions of the Paris Agreement. On the one hand, the duty to provide financial support to climate-related implementation in developing countries (art. 9). On the other, which is the main focus of our research, the global purpose of making all finance flows consistent with climate objectives (art. 2.1c). Based on the history of negotiations and the consolidating practice of governments and markets, we find that the Paris Agreement created a new purpose for all countries, sending a clear signal for governments, civil society and private sector. At its core lays the urgent need to transform our financial system not only towards a new climate-consistent real economy, but also away from the financing of carbon-intensive, maladapted and resilience-detrimental assets and practices. While policy and financial solutions for art. 2.1(c) will need to be adequate for countries' contexts, accounting of trade-offs should ensure some level of convergence for a global, timely and equitable progress towards the climate-consistency of finance flows. That includes, for example, the consideration of solutions currently under development against their (positive and negative) effects for countries already vulnerable to climate change.