Burgess COMMENTARY

Peter Burgess

Climate change data underline the urgent need to move toward a low-carbon economy: a goal echoed in ambitious emissions reduction targets. Achieving this will require a substantial transformation of infrastructures and business models. For this to succeed capital must be moved from the established high-carbon investments towards low-carbon opportunities. However, this process is fraught with uncertainties - not least political ones - and redirecting capital flows across the economy will be a massive challenge.

In this event Kirsty Hamilton, Nick Robins, Anthony Hobley and Michael Wilkins shared their experiences of these challenges and suggested possible ways to overcome them. This was followed by comments from discussants and an open discussion with the participants. The discussion was moderated by Georg Zachmann, research fellow at Bruegel.

Speakers

• Kirsty Hamilton, associate fellow, Chatham House

• Nick Robins, co-chair, UNEP Finance Initiative Climate Working Group

• Anthony Hobley, CEO, Carbon Tracker Initiative

• Michael Wilkins, managing director for infrastructure finance ratings, Standard and Poor's

• Chair: Georg Zachmann, research fellow, Bruegel

Event Materials

A summary of the discussion -

Presentations by Kirsty Hamilton, Chatham House -, and Anthony Hobley, UNEP -.

Standard and Poor's latest CreditWeek magazine, focusing on the interaction between finance and climate change -.

Reports produced by Carbon Tracker about fuel transition, the US coal crash, Capex analysis, US fossil fuel regulations, fossil fuel companies' perception of risk and Carbon Tracker's suggestion of financial carbon bubble.

Background Materials

George Zachmann's memo to the new EU Commission for Climate Change, 2014 The 2013 Bruegel Policy Brief: Can border carbon taxes fit into the global trade regime? by Henrik Horn and André Sapir A discussion of this Policy Brief with Reinhard Quick. Practical Details

Venue: Bruegel, Rue de la Charité 33, 1210 Brussels Time: Monday, 27 April 2015, 12.30-14.00 Contact: Matilda Sevón, Events Manager - registrations@bruegel.org