Climate Barometer shows rise in confidence following business and regional leader announcements

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21 August 2015

LONDON: The Climate Group’s 'Climate Barometer' - which measures confidence levels among business and government leaders in the low carbon economy - has risen for the third time, to 54%. The Climate Group's CEO Mark Kenber said the rise was due to “fast-paced action” from non-state actors.

The Climate Barometer is based on regular surveys of a 50-strong panel drawn from The Climate Group’s high-level network of businesses, governments and international institutional leaders.

This month, average confidence from sub-national government leaders rose from 50% to 55.2%, but average confidence dropped slightly for businesses, down to 44.8% from 48.46%. However, confidence levels within international institutions surveyed almost doubled from 34.3% to 62.9%.

Overall average confidence across sectors has risen 10% to 54.3%, from 44.3% last month.

Mark Kenber, CEO, The Climate Group attributes the rising needle on the Climate Barometer to recent moves from non-state actors such as sub-national governments and businesses: “Despite the slow pace of climate negotiations, the fast pace of action on the ground and commitments by non-state actors is giving investors increasing confidence that we are moving inexorably toward a low carbon economy.”

The panel’s confidence could likely have been lifted following July’s state and regional government progress showcased at two major summits in Europe and North America, where it was revealed that governments representing US$8.3 trillion GDP have publicly submitted their emissions data for the first time through The Climate Group’s Compact of States and Regions.

Climate action also came from unexpected new voices in July, including Pope Francis who declared climate as an area of critical importance for the first time and announced his support for a global climate deal.

Reactions to national level progress will have been mixed though, as while the world’s most powerful economies including Brazil, China and the US have now submitted their INDCs ahead of COP21, the level of ambition is seen as lacking by many in the sector.

For the first time, this month the Barometer also displays anonymous quotes from our leaders network, on their opinions of the global low carbon economy.

Next month the Climate Barometer will be relaunched to coincide with Climate Week NYC, with a public element and live results at The Climate Group’s events.

See the Climate Barometer here


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