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Climate Brief

Global carbon accounts in 2022

Carbon revenues were nearly USD 100 billion in 2021. This represents a more than 80% increase year-on-year (USD 53.1 billion in 2020, USD 97.7 billion in 2021). This increase is largely driven by the rise in allowance prices on the European carbon market, which exceeded the symbolic threshold of EUR 100/tCO2 for the first time in the summer of 2022.

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  • 18/01/2023 Climate Brief
    The limitations of voluntary climate commitments from private financial actors
    Private finance will not fund the transition without a stronger commitment from public authorities. For several years, and particularly since COP 26, considerable time and attention has been dedicated to the subject of voluntary commitments from private financial actors. These commitments, made within the framework of international initiatives, should in principle enable private finance to be mobilized for the transition to a carbon neutral economy.
  • 16/01/2023 Climate Report
    Landscape of climate finance in France – 2022 edition
    2022, France is paying dearly for a dependence on fossil fuels maintained by a chronic lack of investment in the decarbonisation of the economy. This edition of the Landscape of climate finance in France makes a detailed analysis of these critical expenditures by households, companies and public authorities, in the retrofitting of buildings, the purchase of electric vehicles, and renewable energies, as well as in rail, cycling and urban public transport infrastructures. Encouragingly, climate investments have increased significantly in the past year, driven, among other factors, by favourable regulations and by state support under the recovery plan. But this growth remains fragile, and analysis of several transition scenarios shows that climate investments need to increase further in order to stay on track to carbon neutrality and to ensure a lasting reduction in France’s dependence on fossil fuels.
  • 24/11/2022 Climate Report
    Implementing prudential transition plans for banks: what are the expexted impacts?
    The European Union has made rapid progress on the issue of transition plans for companies and banks. First of all, the CSRD directive obliges each listed company to publish its plan for achieving carbon neutrality by 2050. Published by EFRAG this summer, the standards set for these plans can be considered ambitious and commensurate with the challenges they face. With regards to banks, it is now clear that they will be required to publish their transition plan. What remains under debate is whether these transition plans should be integrated into prudential regulations, which would open the way to numerous possibilities of action and sanctions by supervisors.
  • 09/11/2022 Climate Report
    The economic implications of the transition to a low-carbon and resilient economy: an LTS dashboard for Finance Ministers
    Long term national climate strategies, such as Long-Term Strategies (LTS) published to the UNFCCC, are key documents developed by governments to envision the transition to a low-carbon and climate resilient economy at the 2050 (or later) time-horizon. As of the beginning of COP 27 in Sharm-el-Sheikh, Egypt, on November 2022, 55 countries had submitted an LTS to the UNFCCC, answering renewed calls for countries to develop such strategies at COP 26. It is expected that additional LTS will be published shortly. 
  • 03/11/2022 Climate Report
    Ensuring sufficient means to adapt to climate change consequences in France: What are the costs?
    This study is a contribution to the French public debate. It aims at supporting the acceleration and concretization of climate change adaptation initiatives in this country. The study reviews 11 adaptation challenges such as the strengthening of civil protection, the reshaping of coastal areas or the protection of water resources. For each challenge, the study presents national budgetary decisions ready to make in the next Finance Bill that would complement existing actions and cost elements to feed the required arbitrations yet to be made.  
  • 21/09/2022 Climate Brief
    Global carbon accounts in 2022
    Carbon revenues were nearly USD 100 billion in 2021. This represents a more than 80% increase year-on-year (USD 53.1 billion in 2020, USD 97.7 billion in 2021). This increase is largely driven by the rise in allowance prices on the European carbon market, which exceeded the symbolic threshold of EUR 100/tCO2 for the first time in the summer of 2022.
  • 08/07/2022 Climate Report
    Recommendations for the European Carbon Certification Framework
    To achieve the climate goals of the UE, The European Commission wants to create a carbon certification framework to encourage carbon storage in the land sector. The challenge is to develop a common and harmonised framework at the European level by better relying on the expertise acquired through existing certification frameworks. With this study, I4CE propose 7 recommendations, inspired by both our concrete experience with the French Label Bas-Carbone to which we have contributed, and by 15 years of research on carbon certification.
  • 28/06/2022 Climate Report
    Long-term strategy use for Paris-aligned investments
    This I4CE report focuses on the role of countries’ Long-Term Strategies (LTSs) in the Paris alignment approaches of Development Finance Institutions (DFIs). It explores the possible roles of both the LTS development process and the resulting LTS document in providing insights on the Paris alignment of investments within investment decision-making processes. The findings are relevant for a broader range of financial institutions.
  • 08/06/2022 Climate Report
    Scenario analysis of transition risk in finance – Towards strategic integration of deep uncertainty
    The restructuring of the economy towards a low-carbon system will lead to develop activities that are aligned with the needs of a net zero economy, to restructure others in order to make them compatible with these needs and to stop harmful activities. The financial sector needs to anticipate these dynamics to address strategic risks and […]
  • 26/04/2022 Climate Report
    Include mandatory banking transition plans within Pillar 2
    The transition plans aim to establish a progressive decarbonisation strategy by 2050, in line with the European Union’s objectives. The European Central Bank, through Frank Elderson, as well as several NGOs are calling for transition plans to be made mandatory for banks and to be integrated into prudential regulation. This note first looks at why […]
  • 27/01/2022 Climate Brief
    Design principles of a carbon farming scheme in support of the Farm2Fork & FitFor55 objectives
    In order to reach the objectives of the recently approved EU Climate Law, the agricultural sector has to simultaneously reduce significantly its level of emission, increase the amount of carbon it sequesters, and augment the production of biomass in substitution of fossil fuel – which are to be phased out in the short term. In […]
  • 15/12/2021 Climate Report
    Landscape of Climate Finance in France – 2021 edition
    A steep rise in investment in low-carbon vehicles and sustained climate investment in other sectors, a fall in the financing of fossil fuels, a climate funding deficit of over 13 billion that recovery measures are unlikely to offset...
  • 25/11/2021 Climate Report
    Challenges to implementing adaptation on the ground- 5 case-studies in France
    In order to understand what public financial institutions can do, I4CE and Ramboll have analyzed 5 territorial projects, from the Vosges to the Dordogne, which are trying to meet the challenge of adaptation. Beyond their differences, each of the cases studied shows that adaptation requires, above all, dedicating time and resources to change the way projects are designed and carried out.
  • 25/11/2021 Climate Report
    Adaptation : Public financial institutions (also) have a role to play – a study based on the french example
    In this study, I4CE reviews the characteristics and areas of intervention of public financial institutions, which make them essential actors for adaptation. The study also reviews all of the Public Financial Institutions' business lines to determine their levers for action.
  • 09/11/2021 Climate Report
    Promoting and reporting on climate action carried out within the framework of the Low-Carbon Standard
    In the context of the development of the Low Carbon Label, one of the recurring questions from potential financiers is: "What am I allowed to say and do when financing certified low carbon projects? With this publication, I4CE provides operational and pragmatic answers.
  • 21/10/2021 Climate Report
    Global Carbon Accounts in 2021
    Explicit carbon pricing systems - a tax or a carbon market - continue to develop around the world. In the 2021 edition of its Global Carbon Accounts, I4CE presents the main trends and provides an overview of these public policies ...
  • 14/10/2021 Climate Brief
    Does more sustainable food increase consumer budgets?
    Eating less animal products and wasting less reduces the budget, but increasing consumption of organic products increases it. In total, does adopting a sustainable diet increase or decrease consumer spending?
  • 14/10/2021 Climate Report
    Assessing the sustainability of the French food system: methodological issues and results
    To learn more about the methodology used by I4CE to assess the contribution of financing flows to the emergence of a sustainable food system, this technical paper introduces it and identifies its limitations and key methodological challenges for the future.
  • 14/10/2021 Climate Report
    The Good, the Bad and the Unclear : Environmental Budget Tagging
    This study takes stock on the experience of some twenty countries and several international development institutions in Environmental Budget Tagging. It identifies the expected benefits and the conditions to achieve them : take into account the measures that are unfavorable to the environment, consider the outcomes of assessed measures and not only their intention, repeat the exercise over time and fit it into the existing administrative culture and processes…
  • 23/09/2021 Climate Report
    Indexing capital requirements on climate : What impacts can be expected ?
    As the main financier of the French and European economies, banks play a key role in financing the transition. Their current contribution in France is in the order of 8 billion euros per year, but this will need to more than double according to estimates by I4CE. To accelerate this shift for banking institutions and to prevent their increasing exposures to climate risks, the debate has tended to revolve around whether or not there is a need to reform prudential requirements.

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