The Green Transition and Bank Financing

Climate change is one of the largest environmental hazards affecting our society. There is a scientific consensus that greenhouse gas (GHG) emissions are at the root of the problem, the consequences of which are widespread. In particular, the rise in GHG emissions in the atmosphere is associated wit...

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Bibliographic Details
Published inEuropean economy (Roma) no. 2; pp. 75 - 88
Main Authors Degryse, Hans, Goncharenko, Roman, Theunisz, Carola, Vadasz, Tamas
Format Journal Article
LanguageEnglish
Published Rome Europeye srl 01.01.2021
Subjects
Climate change
Climate policy
Emissions
Environmental impact
Greenhouse effect
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Summary:Climate change is one of the largest environmental hazards affecting our society. There is a scientific consensus that greenhouse gas (GHG) emissions are at the root of the problem, the consequences of which are widespread. In particular, the rise in GHG emissions in the atmosphere is associated with an increase in global temperatures leading to extreme weather events and sea level rise, amongst others. Governments have not been ignorant with regard to climate change. Already in 1992, the United Nations Framework Convention on Climate Change (UNFCCC) was established in order to 'stabilize greenhouse gas emissions in the atmosphere'. Each year, the Conference of the Parties (COP) meet to assess the progress in dealing with climate change, to make pledges and to set out future objectives concerning climate change policies. The Paris Climate Accord (COP21) was the result of the 2015 convention. This Accord, signed by nearly 190 countries, aims to limit the increase in average global temperatures to 1.5 degrees Celsius relative to the pre-industrial level.
ISSN:2421-6917
2421-6917