COP26 SERIES: CARBON MARKET MECHANISMS AND COP26

OVERVIEW The Paris Agreement, adopted by 196 Parties at COP21 in Paris, aims to limit global warming to below 2, preferably to 1.5, degrees Celsius compared to pre-industrial levels. The Paris Agreement included a number of methods and goals for achieving this target. In particular, Article 6 contains three carbon pricing mechanisms, two of which … Read more

The IPCC 2021 Climate Change Report – An Overview

The United Nations Intergovernmental Panel on Climate Change (IPCC) has released its 2021 AR6 climate change report (Report), as well as a summary for policy leaders. The Report addresses the current understanding of the climate system and climate change as well as the future possibilities of what could occur. In early 2022, the IPCC plans … Read more

Bank of England launches Climate Biennial Exploratory Scenario

On Tuesday 8 June, the Bank of England launched its Climate Biennial Exploratory Scenario (BES), a stress-testing exercise on the financial risks from climate change. While the regulator’s rhetoric may sound like a call to arms, the BES hopes to understand the issues the financial system faces to ensure that real change is effected by … Read more