Carbon Finance The Financial Implications of Climate Change

by Labatt, Sonia; White, Rodney R.

• ISBN13: 9780471794677
• ISBN10: 0471794678
• Edition: 1st
• Format: Hardcover
• Copyright: 2007-04-06
• Publisher: Wiley

Summary

Praise for Carbon Finance "A timely, objective, and informative analysis of the financial opportunities and challenges presented by climate change, including a thorough description of adaptive measures and insurance products for managing risk in a carbon constrained economy." -James R. Evans, M. Eng. P. Geo., Senior Manager, Environmental Risk Management, RBC Financial Group "Climate change will have enormous financial implications in the years to come. How businesses and investors respond to the risks and opportunities from this issue will have an enormous rippling effect in the global economy. Sonia Labatt and Rodney White's insights and thoughtful analysis should be read by all who want to successfully navigate this global business issue." -Andrea Moffat, Director, Corporate Programs, Ceres "In Carbon Finance, Labatt and White present a clear and accessible description of the climate change debate and the carbon market that is developing. Climate change is becoming an important factor for many financial sector participants. The authors illustrate how challenges and opportunities will arise within the carbon market for banking, insurance, and investment activities as well as for the regulated and energy sector of the economy." -Charles E. Kennedy, Director and Portfolio Manager, MacDougall, MacDougall & MacTier Inc. "Climate change is the greatest environmental challenge of our generation. Its impact on the energy sector has implications for productivity and competitiveness. At the same time, environmental risk has emerged as a major challenge for corporations in the age of full disclosure. Carbon Finance explains how these disparate forces have spawned a range of financial products designed to help manage the inherent risk. It is necessary reading for corporate executives facing challenges that are unique in their business experience." -Skip Willis, Managing Director Canadian Operations, ICF International "In this timely publication, Labatt and White succeed in communicating the workings of carbon markets, providing simple examples and invaluable context to the new and changing mechanisms that underpin our transformation to a carbon-constrained world. Carbon Finance will be the definitive guide to this field for years to come." -Susan McGeachie, Director, Innovest Strategic Value Advisors, Graduate Faculty Member, University of Toronto; and Jane Ambachtsheer, Principal, Mercer Investment Consulting, Graduate Faculty Member, University of Toronto

Author Biography

Sonia Labatt is an associate faculty member at the Centre for Environment, University of Toronto. She has been engaged in the academic world of environmental finance through her graduate-level courses at the university, and in the financial services world as an active investor. Dr. Labatt broadens her environmental concerns, experience, and commitment through her association with World Wildlife (Canada).

Rodney R. White, Professor of Geography at the University of Toronto, was director of the university's Institute for Environmental Studies from 1994 to 1999 and 2000 to 2005. He is an Associate Fellow of the Environmental Change Institute at the University of Oxford and a Senior Fellow at Massey College, University of Toronto. White's recent books include Building the Ecological City, Planning in Cities (with Roger Zetter), and Environmental Finance (with Sonia Labatt), which was also published by Wiley.

Table of Contents

Foreword

About the Authors

Acknowledgments

List of Acronyms

Chapter 1

Introduction

The Changing Climate

The Scientific Context of Climate Change

The Political Context of Climate Change

Corporate Climate Risk

Regulatory Risk

Physical Risks

Business Risks

Climate Policies

Mitigation Policies

Adaptation Measures

Role of the Financial Services Sector

Conclusion

Chapter 2

Introduction

The Energy Chain and the Value Chain

Carbon Policies

Policy Approaches

The Broader Policy Context

National and Local Self-Sufficiency

Impacts of Different Users and Uses on Climate Change

Users: Business, Households, and Government

Uses: Manufacturing, Transportation, Heating, Water, and Solid Waste

Sources of Energy: Fossil Fuels

Coal

Oil 37 Gas

Sources of Energy: Nuclear Energy

Sources of Energy: Hydroelectric Power

Sources of Energy: Renewables

Traditional

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