Climate Change Make Financial Policies to be Adjusted
- By Lanbo Jiang
- Published January 31st, 2012
- Business
- Unrated
100% Guaranteed Approval! Your $$$ in hours. Even with Bad Credit!
Cancun soon, in developed countries in the Copenhagen commitments to support developing countries response to climate change, 2010-2012 $ 30,000,000,000 fast start-up capital is still nowhere in sight. Nevertheless, developing countries including China, have taken positive in the domestic financial and monetary policies to address climate change.
"Financial and monetary policy should be a clear focus, 'adapt' issue should be a top priority." In the November 26 by the Ministry of Finance and Development Centre for Asia Pacific, the World Bank and the Asian Development Bank jointly sponsored by the Asia-Pacific Finance and Development Center 2010 pairs annual forum, experts repeatedly emphasized.
Financial subsidies, levying taxes, setting up industry development fund and bank lending in a variety of financial instruments, financial subsidies to be used with caution, because the use of the mistake will lead to trade disputes. Therefore, the Environmental Protection Department of Trade and Environment team leader Dr. Hu Tao at the forum suggested that the state financial subsidies in the development of financial sector policies, to ensure that the financial subsidies to achieve the "double green."
"Adapt" to climate change, one way: Insurance
International negotiations, people tend to focus on climate change mitigation, but in the country, the 'adaptation' than 'slow down' is more urgent.
Financial policies in the development of a low-carbon development, attention must be as slow as noted the importance of adaptation. Adaptation and disaster is closely related to the GDP for all those countries to address the urgent adaptation.
In China, 70% of the land, 50% of the population, 80% of the industry, the industrial areas vulnerable to the threat and impact of climate disasters. With climate change, this trend is constantly increasing. In Ede Ijjasz view, "the impact of climatic disasters on GDP can not be ignored, the impact on developing countries is much larger than the developed countries."
Statistics show that in 2008, natural disasters caused economic losses of U.S. $ 57,290,000 is, while the loss of China was $ 195,200,000. There such a big contrast between the two countries in the adaptation mechanism is the result of different abilities.
The developed countries have sophisticated security system, and their relatively wide coverage, have the ability to withstand climate change considerations, and the development of developing countries due to the maturity of the insurance market vary, the overall loss of ability to respond to relatively weak, and the community there is no overall mechanism for risk diversification, the more likely directly affected by this disaster impacts and threats.
At the same time, developing countries in various industries and cities have not yet established a mechanism to address climate disaster. To this end, Ede Ijjasz said, "We need to establish a more effective, broader coverage of the insurance mechanism, through fiscal, financial and such a polic
y mix, to mobilize governments, businesses and citizens, and other forces to adapt to the common development of such insurance system to climate change. "
In this regard, the Organization for Economic Cooperation and Development Environment Division Nils Axel Braathen reminded, "This insurance system may also encourage those parties to ignore the environmental risks, to take more risks, anyway, the loss can be compensated" .
International Finance Corporation, the business climate change Peter Cook, senior investment officer for financial forums in the "related to cooperation in our projects, and the Government is considering how the organization shared the payment of such insurance."
Financial subsidies and the WTO Anti-fight: "Double Green"
Developing countries including China, to promote low carbon economic development in the process, to take a variety of financial policies, financial subsidies are the most common type of policy. Although this policy with the United Nations Framework Convention on Climate Change requirements, but accidentally violated the provisions of the binding nature of WTO.
The so-called subsidies, which the Government or public sector use of financial resources or financial resources to help businesses of a particular purpose. "Subsidy policies in WTO rules, there are many restrictions. Therefore, in the formulation of policy must be cautious financial subsidies, financial subsidies to be 'double-green'." Hu Tao said in the Finance forum.
The so-called double green, one is to invest in the green industry subsidies, the second is the type of subsidies also is the green type. "The second point is often overlooked, cause of trade disputes is the reason why." Hu Tao said.
According to "Agreement on Subsidies and Countervailing Measures", subsidies are divided into three, one is the absolute prohibition of subsidies in red, the yellow one is conditional subsidies, but other countries may lead to sanctions; There is also a WTO subsidies to support the green This is the most secure.
Under the "SCM Agreement", the so-called green subsidies, including two categories, one is the non-specificity of universal access to subsidies, known as the enterprises can receive such benefits under the same conditions; The other is in line with specific conditions specificity subsidies, mainly refers to government research, backward areas and environmental subsidies.
Unfortunately, many of China's subsidy policy, in fact, do not meet the requirements of green subsidies in international trade face high risks, the recent U.S. launch of China's 301 clean energy survey is a good example of .
In addition, WTO rules can not but mention that the "United Nations Framework Convention on Climate Change" between, there are some incompatibilities. China's new energy subsidies, not only for China but also to the whole world of green development is consistent with "the United Nations Framework Convention on Climate Change" requirements, but such action may not meet the WTO.
Therefore, in the promotion of national financial policy, Asia-Pacific countries should unite to a number of regional actions to jointly promote the WTO rules and the "United Nations Framework Convention on Climate Change" match between the issues.
"Financial and monetary policy should be a clear focus, 'adapt' issue should be a top priority." In the November 26 by the Ministry of Finance and Development Centre for Asia Pacific, the World Bank and the Asian Development Bank jointly sponsored by the Asia-Pacific Finance and Development Center 2010 pairs annual forum, experts repeatedly emphasized.
Financial subsidies, levying taxes, setting up industry development fund and bank lending in a variety of financial instruments, financial subsidies to be used with caution, because the use of the mistake will lead to trade disputes. Therefore, the Environmental Protection Department of Trade and Environment team leader Dr. Hu Tao at the forum suggested that the state financial subsidies in the development of financial sector policies, to ensure that the financial subsidies to achieve the "double green."
"Adapt" to climate change, one way: Insurance
International negotiations, people tend to focus on climate change mitigation, but in the country, the 'adaptation' than 'slow down' is more urgent.
Financial policies in the development of a low-carbon development, attention must be as slow as noted the importance of adaptation. Adaptation and disaster is closely related to the GDP for all those countries to address the urgent adaptation.
In China, 70% of the land, 50% of the population, 80% of the industry, the industrial areas vulnerable to the threat and impact of climate disasters. With climate change, this trend is constantly increasing. In Ede Ijjasz view, "the impact of climatic disasters on GDP can not be ignored, the impact on developing countries is much larger than the developed countries."
Statistics show that in 2008, natural disasters caused economic losses of U.S. $ 57,290,000 is, while the loss of China was $ 195,200,000. There such a big contrast between the two countries in the adaptation mechanism is the result of different abilities.
The developed countries have sophisticated security system, and their relatively wide coverage, have the ability to withstand climate change considerations, and the development of developing countries due to the maturity of the insurance market vary, the overall loss of ability to respond to relatively weak, and the community there is no overall mechanism for risk diversification, the more likely directly affected by this disaster impacts and threats.
At the same time, developing countries in various industries and cities have not yet established a mechanism to address climate disaster. To this end, Ede Ijjasz said, "We need to establish a more effective, broader coverage of the insurance mechanism, through fiscal, financial and such a polic
In this regard, the Organization for Economic Cooperation and Development Environment Division Nils Axel Braathen reminded, "This insurance system may also encourage those parties to ignore the environmental risks, to take more risks, anyway, the loss can be compensated" .
International Finance Corporation, the business climate change Peter Cook, senior investment officer for financial forums in the "related to cooperation in our projects, and the Government is considering how the organization shared the payment of such insurance."
Financial subsidies and the WTO Anti-fight: "Double Green"
Developing countries including China, to promote low carbon economic development in the process, to take a variety of financial policies, financial subsidies are the most common type of policy. Although this policy with the United Nations Framework Convention on Climate Change requirements, but accidentally violated the provisions of the binding nature of WTO.
The so-called subsidies, which the Government or public sector use of financial resources or financial resources to help businesses of a particular purpose. "Subsidy policies in WTO rules, there are many restrictions. Therefore, in the formulation of policy must be cautious financial subsidies, financial subsidies to be 'double-green'." Hu Tao said in the Finance forum.
The so-called double green, one is to invest in the green industry subsidies, the second is the type of subsidies also is the green type. "The second point is often overlooked, cause of trade disputes is the reason why." Hu Tao said.
According to "Agreement on Subsidies and Countervailing Measures", subsidies are divided into three, one is the absolute prohibition of subsidies in red, the yellow one is conditional subsidies, but other countries may lead to sanctions; There is also a WTO subsidies to support the green This is the most secure.
Under the "SCM Agreement", the so-called green subsidies, including two categories, one is the non-specificity of universal access to subsidies, known as the enterprises can receive such benefits under the same conditions; The other is in line with specific conditions specificity subsidies, mainly refers to government research, backward areas and environmental subsidies.
Unfortunately, many of China's subsidy policy, in fact, do not meet the requirements of green subsidies in international trade face high risks, the recent U.S. launch of China's 301 clean energy survey is a good example of .
In addition, WTO rules can not but mention that the "United Nations Framework Convention on Climate Change" between, there are some incompatibilities. China's new energy subsidies, not only for China but also to the whole world of green development is consistent with "the United Nations Framework Convention on Climate Change" requirements, but such action may not meet the WTO.
Therefore, in the promotion of national financial policy, Asia-Pacific countries should unite to a number of regional actions to jointly promote the WTO rules and the "United Nations Framework Convention on Climate Change" match between the issues.
Written by Lanbo Jiang
I am a professional editor from China Products, and my work is to promote a free online trade platform. http://www.himfr.com/ contain a great deal of information about cctv ccd camera,self laminating pouches,delta of venus, welcome to visit!
