Data Visualizations on Global Climate Change Investment Show We're Falling Short of the Need
WARSAW, Poland, Nov. 20, 2013 /PRNewswire-USNewswire/ -- A new series of data visualizations from Climate Policy Initiative (CPI) illustrate climate investment around the world, a topic countries are currently debating at the 19th United Nations Framework Convention on Climate Change Conference of Parties, which is convening in Warsaw, Poland through November 22. The visualizations are available at www.FinanceLandscape.org.
Key findings from the data visualizations include:
- Climate investment plateaued at USD $359 billion in 2012, far short of the need. The International Energy Agency projects that an additional investment of $5 trillion (above business as usual) is required between now and 2020 for clean energy alone, to limit warming to two degrees Celsius.
- Seventy-six percent of climate finance originated in the country in which it was used. Further, much of the international money flowing between developed countries is private, while the vast majority of money flowing from developed to developing countries is public. This highlights investors' preference for familiar environments perceived to be lower risk.
- Public sources provided $135 billion, or 38% of total finance. Public sources played a critical role in enabling private finance through incentives, low-cost loans, risk coverage mechanisms, direct project investment, and technical support. Private sources contributed $224 billion.
- These public measures for climate change are significant, but remain dwarfed by government support for fossil fuel consumption. The OECD estimates government support to fossil fuel energy consumption and production, estimated at $523 billion each year for developing and emerging economies alone.
The Climate Finance Landscape visualization project is based on the most comprehensive inventory of climate investment available, The Global Landscape of Climate Finance 2013, a CPI report released in October, 2013. The website was built by Vizzuality, a respected data visualization and citizen science firm based in Madrid and New York.
Sample social media posts:
- Are we investing enough in our low-carbon future? FinanceLandscape.org gives the numbers. via @climatepolicy #COP19
- Show us the money: Visualizations of #climatefinance say we're nowhere near the mark: FinanceLandscape.org via @climatepolicy #COP19
- Most comprehensive inventory of #climatefinance is now available as a series of data visualizations – via @climatepolicy
Climate Policy Initiative is a team of analysts and advisors that works to improve the most important energy and land use policies around the world, with a particular focus on finance. An independent organization supported in part by a grant from the Open Society Foundations, CPI has offices and programs in Brazil, China, Europe, India, Indonesia, and the United States.
SOURCE Climate Policy Initiative