Opportunities for synthetic data in nature and climate finance

This paper delves into the intricacies of synthetic data, emphasizing its growing significance in the realm of finance and more notably, sustainable finance. Synthetic data, artificially generated to simulate real-world data, is being recognized for its potential to address risk management, regulatory compliance, and the innovation of financial products. Especially in sustainable finance, synthetic data offers insights into modeling environmental uncertainties, assessing volatile social and governance scenarios, enhancing data availability, and protecting data confidentiality. This critical review attempts first ever classification of synthetic data production methods, when applied to sustainable finance data gaps, elucidates the methodologies behind its creation, and examines its assurance and controls. Further, it identifies the unique data needs of green finance going forward and breaks down potential risks tied to synthetic data utilization, including challenges from generative AI, input quality, and critical ethical considerations like bias and discrimination.

Africa and climate justice at COP27 and beyond: impacts and solutions through an interdisciplinary lens

Climate justice is not just a financial transaction to protect the environment. It needs to be seen as the protection of the most vulnerable in society after centuries of resource exploitation. African countries disproportionately face impacts of climate change on their environments, their economies, their resources and their infrastructure. This leads to greater vulnerability and increased exposure to the negative effects of a changing climate. In this article, we highlight the importance of climate justice and its role within the United Nations negotiations, and ultimately in concrete action. We discuss current climate impacts across key sectors in the African region, with a focus on health, infrastructure, food and water scarcity, energy and finance. All sectors are affected by climate change. They are interconnected and under threat. This triggers a ripple effect, where threats in one sector have a knock-on effect on other sectors. We find that the current set of intergovernmental institutions have failed to adequately address climate justice. We also contend that a siloed approach to climate action has proven to be ineffective. As we head towards the next set of negotiations (COP27), this paper argues that the economic and social conditions in Africa can be addressed through financial and collaborative support for adaptation and localised solutions, but that this will only be achieved if climate justice is prioritised by the decision makers. This needs to include a global-scale transition in how climate finance is assessed and accessed. Climate justice underpins real, effective and sustainable solutions for climate action in Africa.

Sociotechnical Considerations About Ocean Carbon Dioxide Removal

Ocean carbon dioxide removal (OCDR) is rapidly attracting interest, as climate change is putting ecosystems at risk and endangering human communities globally. Due to the centrality of the ocean in the global carbon cycle, augmenting the carbon sequestration capacity of the ocean could be a powerful mechanism for the removal of legacy excess emissions. However, OCDR requires careful assessment due to the unique biophysical characteristics of the ocean and its centrality in the Earth system and many social systems. Using a sociotechnical system lens, this review identifies the sets of considerations that need to be included within robust assessments for OCDR decision-making. Specifically, it lays out the state of technical assessments of OCDR approaches along with key financial concerns, social issues (including public perceptions), and the underlying ethical debates and concerns that would need to be addressed if OCDR were to be deployed as a carbon dioxide removal strategy.

A Conceptual Framework of Climate Action Needs of the Least Developed Party Countries of the Paris Agreement

This article provides a framework for conceptualizing climate action needs grounded in the nationally determined contributions (NDCs) of the least developed party countries (LDPCs) of the Paris Agreement (PA). It examines the NDCs of 35 LDPCs recorded in the NDC public registry of the United Nations Framework Convention for Climate Change (UNFCCC). A grounded theory approach is adopted to assess what these countries need to materialize their NDCs under the PA. A conceptual framework of needs is figured out through an iterative process of data collection and analysis in three cycles: (1) open and in vivo coding; (2) axial coding; and (3) theoretical or selective coding. The data are analyzed with the help of NVIVO software. The results provide a verifiable framework of needs for climate action, which includes 55 saturated need factors extracted from the writing excerpts of NDCs, 17 sub-categories (axial codes) with climate finance and technology transfer as the most prominent, and 7 theoretical or selective categories with mobilize, educate, governmental, synergic, levels, equity, and public health. It provides a baseline for policy, research, and action from the developed party countries to uphold their PA obligations.

Climate Finance Effectiveness: A Comparative Analysis of Geothermal Development in Indonesia and the Philippines

In light of commitments made under the UNFCCC Paris Agreement and Glasgow Climate Pact, trillions of dollars are needed to fund climate mitigation and adaptation in developing countries. However, few studies have investigated the effectiveness of climate finance or how it impacts barriers to renewable energy development in recipient countries. This article contributes to the literature by investigating climate finance effectiveness through comparative case study analysis of its impacts on geothermal development in Indonesia and the Philippines. The article finds that three mechanisms of climate finance-utility modifier, social learning and capacity building-work interdependently in impacting the financial, regulatory, and technical barriers to geothermal development in Indonesia and the Philippines but are individually insufficient to scale the industry; political will and energy shocks play a significant intervening role. This paper raises policy implications for climate finance effectiveness and renewable energy technology deployment in developing countries.

Mapping adaptation opportunities and activities in an interactive atlas

The need for transparency is taking more prominence in international climate negotiations as developed countries pledge large sums of money to foster adaptation efforts in developing countries. Tools that provide accurate and up-to-date spatial information that can be easily used and vetted by local practitioners may provide effective and affordable ways to improve transparency. The Global Adaptation Atlas is such a tool, combining vetted, publicly available climate impact data with timely maps of on the ground adaptation projects to highlight confluences of effects of climate change with actions taken to address those effects. Here, we describe the structure and general functions of the Global Adaptation Atlas and explain how it may be utilized to track short-term investments in adaptation. Over longer time scales, it may also help gauge the effectiveness of specific adaptation investments as well as reveal how different climate impacts affect long-term investment in differing regions.