Private Actors: Part of the Problem, Part of the Solution

9 Pages Posted: 16 Mar 2017 Last revised: 20 Mar 2017

Date Written: March 14, 2017

Abstract

The Paris Agreement establishes a frame-work for international cooperation in limiting the impact of climate change to an average global temperature increase of less than 2 degrees Celsius. The accord also facilitates equitable climate adaptation and seeks to align financing incentives with sustainability.

To achieve these goals, the 195 adopting nations will develop individual plans for meeting their Nationally Determined Contributions. Most of these emissions-reduction plans will involve regulation at various levels of government and bilateral or regional agreements among nations. But these actions will still fall short of the goals of the agreement. In fact, temperatures could increase almost twice as much if governments alone address the risks to society and the biosphere — a truly dangerous situation. To meet the 2 degree target involves making a positive out of what is seemingly a triple negative: nongovernmental actors will need to take steps not required or not incentivized by regulation. These initiatives will come from a variety of agents, take many forms, and aim at a myriad of objectives. Corporations will reduce emissions and track reductions. Citizens groups will facilitate transitions to clean energy and sustainable resource use. Financing mechanisms will recognize the value of sustainable enterprises, including green municipal bonds and development projects, and selective investment and divestment.

Institutions — cultural, religious, and academic — will reduce emissions while adjusting their platforms and reallocating resources to respond to the effects of climate change. And households across the globe will make adjustments involving the day-to-day lives of almost all people around the planet, as energy generation and use is transformed.

The 2016 ELI-Miriam Hamilton Keare Policy Forum took on this difficult problem at the intersection of public and private policy. ELI’s multidisciplinary panel debated the complementary mechanisms that will facilitate the transition to a climate-sensitive future, with special emphasis on what the Paris Agreement will mean for private actors and related civil society mechanisms. We present a transcript of the forum that has been edited for space reasons and to improve clarity.

Keywords: Paris agreement, climate change, sustainable

Suggested Citation

Vandenbergh, Michael P., Private Actors: Part of the Problem, Part of the Solution (March 14, 2017). Environmental Forum, 2017, Vanderbilt Law Research Paper No. 17-14, Available at SSRN: https://ssrn.com/abstract=2933178

Michael P. Vandenbergh (Contact Author)

Vanderbilt University - Law School ( email )

131 21st Avenue South
Nashville, TN 37203-1181
United States

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