Davos 2017 - A New Chapter for Climate Action

TL;DR

Global leaders discuss the urgent need to address climate change and propose solutions to tackle the issue.

Transcript

welcome everybody if you want to take your seats we'll um we'll Jump Right In Here uh behalf of the for I want to thank everybody for coming out uh this early evening to talk about a critically important issue how we Propel uh the Paris agreement and enable it to reach the kind of scale uh that we know is required in order to keep global average te... Read More

Key Insights

• 💱 The urgency to address climate change is evident, given the potential catastrophic consequences.
• 🥘 Low-income, climate-vulnerable countries like Bangladesh require support in transitioning to low-carbon development and ensuring food security.
• 💻 Putting a price on carbon and reducing deforestation are critical steps in accelerating progress in combating climate change.
• 🖐️ Financial institutions play a vital role in supporting sustainable investments and promoting transparency in climate-related risks.

Questions & Answers

Q: How does Bangladesh plan to mitigate the effects of climate change on its vulnerable population?

Bangladesh is committed to low-carbon development and is focusing on sustainable agriculture, food security, and renewable energy. It calls for support in agriculture, smart agriculture practices, and access to renewable energy for farmers.

Q: What steps can the international community take to accelerate progress in combating climate change?

The international community can put a price on carbon, phase out fossil fuel subsidies, strengthen investment frameworks, and mobilize private investments in clean energy and sustainable technology. Collaboration and knowledge-sharing between businesses and governments are crucial.

Q: How can the banking industry contribute to climate change mitigation efforts?

Financial institutions can enforce stricter policies and standards, promote transparency and disclosure of climate risks, and support green and sustainable investments. They can also incentivize companies to adopt more sustainable practices and fund projects that reduce carbon emissions.

Q: How can the private sector help achieve sustainable growth and reduce deforestation?

Companies like HSBC can actively engage with stakeholders and invest in sustainable supply chains. They can collaborate with NGOs and other businesses to set standards for responsible sourcing and strive for transparency throughout the supply chain. Additionally, investing in renewable energy infrastructure and technologies can support economic growth and job creation.

Summary & Key Takeaways

• The climate issue is described as a "black elephant," an obvious problem with potentially catastrophic consequences if not addressed.

• Bangladesh, a country highly vulnerable to climate change, shares its efforts to shift to a low-carbon development path and calls for support in agriculture and food security.

• Norway acknowledges the global emissions gap and emphasizes the importance of putting a price on carbon and reducing deforestation.

• HSBC, a major financial institution, highlights the need for transparency and disclosure of climate risks in business industries such as palm oil production.