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BY Désiré Kamanzi , Carlyn Frittelli Davies , Eustache Ngoga , James Brand , Jessica Blumenthal , Mansoor Parker , Binti Shah , Jean Makaka , Sonam Mansingh , Zaahirah America , Minna Mumma , Kerubo Orwaro, Tasneem Pirbhai, Fortune Shanduka, Denise van Heerden, Tarynn Davies, Sonam Mansingh, Ammaarah Roshan AND Nqobile Sithole
ENS contributes to the 2024 CLIMATE POLICY MONITOR, a new Oxford study revealing how economic policies align with climate goals.
As global leaders gather at #COP29 in Baku, a new study by Oxford University, in collaboration with 48 global law firms including ENS, provides a comprehensive assessment of how global economic regulation and policy align with climate goals. The Climate Policy Monitor is publicly accessible and evaluates regulatory efforts across 30 major economies.
The study considers Net zero regulations around the world, and notes a significant implementation gap:
- A granular survey of 30 major countries’ net zero implementation, compiled by University of Oxford researchers and 48 leading global law firms, gives the most detailed view yet of how aligned economic regulation and policy is with climate goals.
- While the incoming Trump Administration will likely reverse climate regulation and policy in the US, globally mandatory regulation to support net zero is spreading, with new rules in 21 jurisdictions ranging from Europe to China, to South Africa coming into effect from 2023 onwards.
- While net-zero regulation in some domains, like disclosure of climate-related information, is relatively robust, other areas continue to lack clear, ambitious standards.
ENS teams from Kenya, Rwanda and South Africa contributed to the research in the domains of Disclosure, Transition Planning, and Public Procurement.
“We were happy to contribute to this meaningful research as transparency will assist in driving global cooperation. ENS’s contribution to this project reflects our commitment to sustainability and to ensuring that we leverage our expertise to support meaningful progress real world progress.” says Jessica Blumenthal, Executive in Banking and Finance at ENS.
“As the urgency to meet global climate goals intensifies, collaboration is key to bridging the gap between ambition and action. From a South African perspective, we were proud to highlight some of the ambitious regulation and policy being developed”, James Brand, Executive in Natural Resources and Environment at ENS.
"Aligning public procurement with climate goals represents a powerful lever for sustainable development. By directing government spending toward climate-resilient and low-carbon projects, we are not only protecting the environment but also driving economic growth and job creation in green industries," says Binti Shah at ENS' office in Kenya. “These policies ensure that public funds are invested in a future that benefits both our economy and our planet."
"Climate-related disclosure is essential for accountability, and necessary to build a sustainable economy. By requiring companies and financial institutions to report their climate risks and impacts, we empower investors, policymakers, and communities with information to drive responsible decisions. These disclosures are a critical step toward fostering resilience and sustainability across our financial and corporate sectors," says Désiré Kamanzi at ENS' office in Rwanda.
The Climate Policy Monitor's comprehensive data highlights key areas where regulators can strengthen and harmonize economic policies to foster a level playing field for achieving net zero. With ongoing updates to include new domains and jurisdictions, the Monitor will remain an evolving resource for assessing the ambition, scope, and effectiveness of climate policies globally. Its findings also support the UN Taskforce on Net Zero Policy, reinforcing efforts to align policies with global climate goals.
To learn more about the study, and for full details for each participating country, visit Climate Policy Monitor | Homepage.
Contacts:
For ENS:
Ashleigh Faber
Communications Team Leader
For Oxford:
E: news.office@admin.ox.ac.uk
T: +44 (0) 1865 280528
About the Net Zero Regulation and Policy Hub
The Net Zero Regulation and Policy Hub is a research initiative based at the University of Oxford. It aims to build the evidence base and the capacity to advance net zero regulation and policy that is effective, rigorous and equitable. It is a collaboration between Oxford’s Blavatnik School of Government and the Oxford Sustainable Law Programme (the latter is a joint initiative of the Oxford Smith School of Enterprise and the Environment and Oxford's Law Faculty). It is part of the Oxford Net Zero strategic cluster. It was launched in October 2023 as a direct output of the Oxford Martin Programme on Net Zero Regulation and Policy with a £1m strategic funding grant from the Oxford Martin School. It is also supported by the EU Horizon ACHIEVE Project.
The Hub builds the evidence base and capacity to advance net zero regulation and policy through four intertwined workstreams:
• The Climate Policy Monitor
• Research on key dilemmas holding back effective regulation for net zero
• Collaboration with governments to advance the frontier of best practice
• Education and capacity-building
https://www.bsg.ox.ac.uk/research/net-zero-regulation-and-policy-hub
https://www.oxfordmartin.ox.ac.uk/net-zero-regulation
