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SUSTAINABILITY AND CLIMATE RISK GARP SCR EXAM
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SUSTAINABILITY AND CLIMATE RISK GARP SCR EXAM LATESTACTUAL EXAM 300 REAL EXAM QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED
A+
United Nations Framework Convention on Climate Change (UNFCCC) - ANSWER: First
global agreement on climate changes established this in 1992 at the Rio Summit
Kyoto Protocol (1997) - ANSWER: From COP3 - First accord on emissions reductions -
took form of a legally binding treaty, according to which high-income countries agree
to reduce emissions by 5% from 1990 levels by 2008-2012
Paris Agreement (2015) - ANSWER: Latest global agreement on climate mitigation
and the most successful
- Agreement on a 1.5 - 2 degrees Celsius reduction aspiration and inviting all
countries to submit (non-binding) plans to get there - relying on the mechanism of
peer pressure
Carbon pricing at the national level - ANSWER: Widely used to reduce emissions, the
2 (two) principal ways to establish a price on carbon emissions are through
1. CARBON TAXES or 2. CAP-AND-TRADE SCHEMES
(not mutually exclusive)
Carbon pricing is not the only policy option to achieve emissions reductions - another
way is: - ANSWER: Sector-specific policies
Ex:
1. Priority dispatch
2. Feed-in tariffs
3. Net metering
4. Quota requirements for renewable power generation and fuel efficiency and CO2
emissions standards for automobiles.
One of the most impactful policy areas where climate change has been integrated is
that of: - ANSWER: Financial Supervision
Why is financial supervision a very impactful policy area where climate change has
been integrated? - ANSWER: Central banks expect financial institutions to integrate
climate into governance, risk management, and disclosure
Undergoing climate stress tests - purpose? - ANSWER: To assess the resiliency of the
financial system to climate shocks
Intergovernmental Panel on Climate Change (IPCC) (1988) - ANSWER: a UN-
convened organization of scientists, and soon thereafter to the United Nations
, Framework Convention on Climate Change (UNFCCC), a UN body dedicated to
climate change.
William Nordhaus - ANSWER: developed models to assess the costs and benefits of
mitigating climate change through emissions reductions vs physical impacts of
climate change
What did the original formulation of Nordhaus's dynamic integrated climate-
economy (DICE) model from early 1990s suggested what? - ANSWER: Warming of 3.5
degrees would be optimal in terms of not unduly hampering economic growth while
still mitigating the worst climate impacts.
Cumulative vs current annual emissions
- Current Annual emissions which countries are the biggest emitters? - ANSWER: 1.
China
2. US
3. India
Cumulative vs current annual emissions
- Cumulative emissions which countries are the biggest emitters? - ANSWER: North
America and Europe
Why in ways cumulative emissions matter more than current annual emissions? -
ANSWER: Cumulative emissions reflect the stock of CO2 in the atmosphere - and it is
the total stock, not the annual flow, that affect the changes in climate
The origins of international climate summit started what year and with what
summit? - ANSWER: 1979 - when the first World Climate Summit organized by the
World Meteorological Organization (WMO) - also the co-creator on the
Intergovernmental Panel on Climate Change (IPCC)
Subsequent summits of the UNFCCC where called what? - ANSWER: Conferences of
the Parties (COP)
Although immediately after its adoption, the Kyoto Protocol was viewed as a
success, but now looking back, it is widely viewed as having been a failure why? -
ANSWER: - It did not achieve even the modest emissions targets it had embedded
within it.
- Technical failings such as some of the planned emissions-trading scheme was never
properly implemented
The 2015 Paris Agreement is not based on legally binding emissions reduction
targets but on: - ANSWER: A commonly agreed aspiration to keep global
temperature rise "well below 2 degrees above pre-industrial levels to limit the rise to
1.5 degrees combined with national efforts by each individual party in this direction
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