TSKB Economic Research underlines “water” theme in its second issue of the “Climate Review" Report.
The second issue of the report entitled "Climate Review", which is published quarterly by the TSKB Economic Research team as part of the “Green Swan Platform”, addressed the theme of "water". Sharing the calculations carried out as part of the strategic consultancy of the Finish’s campaign for water awareness, TSKB Economic Research notes that the Finish Water Index (FWI) declined by 1.7 per cent in the last quarter of 2020. The report, which also discussed the Falkenmark Indicator, emphasized that Turkey had an annual water potential of 1,358 m3 per capita.
The second issue of the report entitled "Climate Review" prepared quarterly by TSKB Economic Research to keep a finger on the pulse of the climate agenda within the “Green Swan Platform” was published. Aiming to draw attention to the diamond-water paradox in its report entitled "Water is the Next Diamond" in February 2019, TSKB shared its analysis under a special theme focusing on water in the second issue of “Climate Review”. TSKB continues its work on the Green Swan Platform in order to act jointly in tackling the climate crisis, which is the greatest obstacle to sustainable and inclusive development. TSKB Economic Research offers content enriched with special data with its reports “Climate Review”. Climate Review, presented under Green Swan Platform which draws attention to the unexpected but highly destructive risks related to climate, includes analysis and opinions which may be effective in tackling the climate crisis.
Addressing the theme of “water” due to the paradox that the price of water, which is a vital resource, remains below the price of diamond, which do not have a vital function, the TSKB Economic Research emphasizes that the issue of water gains more importance with the increasing drought in 2020.
In the second issue of “Climate Review”, according to the calculations carried out by TSKB Economic Research, as part of its strategic consultancy of Finish’s brand campaign for water awareness, the average FWI in December 2020 declined by 1.5 per cent compared to the same period of the previous year to 84.92. The report also drew attention to the Falkenmark Indicator values indicated for the renewable water potential per person. Turkey’s Falkenmark Indicator value of 1,358 m3 / person-year, pointed out to the necessity for a more careful and planned water management.
Green bond market reached USD 269 billion in 2020
“Climate Review” report emphasized anomalies in terms of climate change. For example, according to the General Directorate of Meteorology, the amount of precipitation in December in Turkey was 48.3% lower than the seasonal normals. The "Climate Finance" section of the report examined figures on the green bond market. There are also details and expectations regarding the structure of the market, which reached a total volume of USD 269 billion in 2020.
TSKB Economic Research also compiled the 2021 agenda of the European Green Deal (EGD), which constituted a considerable share in the policy agenda of the European Commission in 2020. According to the study carried out by TSKB Economic Research, this year’s agenda will focus on the issues of accelerating taxonomy work, renewal of waste laws, proposal for the carbon border adjustment mechanism for selected sectors, the new European Union Forest Strategy and many other policy measures.
Other headlines from the second issue of the Report on Climate are as follows:
Farm to Fork Strategy Might Decrease Agriculture Production
The U.S. Department of Agriculture released a new study examining the possible economic impacts of the European Green Deal. According to three distinct scenarios on the effects of the Farm to Fork Strategy, agricultural production in the European Union region is expected to decline by 12% and global agriculture production set to decrease by 1%
- Time to Transform Cities!
The Ross Center, established by the World Resources Institute (WRI) for sustainable cities, holds a global competition each year to reward cities for their transformative urban changes. The five cities to make the finals of this year's awards were Rosario in Argentina, Ahmedabad in India, Nairobi in Kenya, Monterrey in Mexico and London in the UK.
- Fed Joins Consortium Supporting Paris Climate Goals
The US Federal Reserve (Fed) has joined a consortium of central bankers supporting the Paris climate goals. On December 15, the Fed announced its membership of the Network for Greening the Financial System (NGFS), a group of 75 central banks formed to address climate change through financial practices.
- EU member states approve the European Investment Bank (EIB) Group Climate Bank Roadmap 2021-2025
“The EIB Group Climate Bank Roadmap 2021-2025: Turning ambition into reality” demonstrates the bank's support for climate action and environmental sustainability investments. In cooperation with public and private institutions, the EIB is committed to providing EUR 1 trillion in financing for the projects, which serve the aims and principles of the Paris Climate Agreement, by 2030.
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