As countries negotiate a new international climate agreement for the post-2020 period—including at this week’s intersessional meeting in Bonn, Germany—the key choices for putting the world on a secure pathway to a low-carbon future should be front-of-mind. The new agreement will be essential for putting in place the policies beyond 2020 that ensure a shift from high-carbon to low-carbon and climate-resilient investments. To do this, the agreement will have to send the right signals to governments and businesses about the trajectory we need to be on.
The UNFCCC meetings in Bonn this week mark a critical time, as one of the issues negotiators are focusing on is the development of countries’ post-2020 plans to reduce greenhouse gas emissions. Parties in a position to do so must communicate their post-2020 “contributions” by the first quarter of 2015. To help inform this discussion, we published a working paper outlining what this information should look like and why this level of transparency is important.
Ex-Ante Clarification, Transparency, and Understanding of Intended Nationally Determined Mitigation Contributions
Discussions are being initiated this month at the UNFCCC negotiating session in Bonn, Germany on the types of information that will be needed to understand the nationally determined contributions Parties put forward for the post-2020 period under the emerging 2015 Agreement.
Today the European Commission announced a climate and energy package for European Union (EU) heads of state to consider, which includes a domestic 40 percent reduction in greenhouse gas emissions by 2030 (below 1990 levels), a binding target of at least 27 percent renewable energy across the EU, and measures to improve the functioning of the Emissions Trading System.
The world will need to spend an estimated US$5.7 trillion annually in green infrastructure by 2020 in order to limit global temperature rise to 2 degrees C. This week, it took a step toward creating an institution – the Green Climate Fund – that will be pivotal in achieving this goal.
This year’s climate negotiations in Warsaw, Poland (COP 19) were a bit of a mixed bag. On the one hand, the summit’s outcomes were dramatically out of step with the level of action needed to solve the climate change problem. A tempting metaphor for the talks was the national stadium in which they were held– one could go around in endless circles in search of the right location.
On the other hand, the Warsaw COP did achieve the incremental outcomes needed to move the process forward. Negotiators put in place a work plan for securing an international climate agreement at COP 21 in Paris in 2015. The COP also made progress on scaling up climate finance and addressing the difficult issue of loss and damage, a process for addressing climate impacts that are difficult or impossible to adapt to. These are small but important steps toward bringing countries out of their repetitive, circular discussions and closer to agreeing collectively on how to address global climate change.
After two weeks of discussions, the climate negotiations wrapped up in Warsaw, Poland. COP 19 opened just as Typhoon Haiyan struck the Philippines, and the outcome was not decided until the final moments.
Following is a statement by Jennifer Morgan, Director, Climate and Energy Program, World Resources Institute:
“In the nick of time, negotiators in Warsaw delivered just enough to keep things moving. The talks opened with a tragic reminder of what is at stake, but there were few signs of urgency within the negotiating rooms.
As the UN climate meetings (COP 19) in Warsaw, Poland get down to serious business in their second week, the world beyond the negotiations looms large – both with challenges and with promise. It’s an important reminder of the stakes inside the negotiating venue.
Inside the negotiating rooms, things kicked into a higher gear yesterday. The co-chairs put forward a negotiating text laying out the key issues for establishing a new climate action agreement in 2015 (under the Durban Platform). Over the next several days, negotiators will grapple with four key issues.
While many people are traveling to Warsaw this week to participate in the international climate negotiations (COP 19), the city is also hosting another global conference: the International Coal and Climate Summit. It’s a troubling juxtaposition—coal contributes to 43 percent of global greenhouse gas emissions, making it a major driver of climate change. In fact, a new statement released by leading scientists suggests that nearly three-quarters of fossil fuel reserves—especially coal—must remain unused if the world is to limit temperature rise to 2 degrees Celsius. In other words, limiting sea level rise, extreme weather events, heat waves, and other climate impacts requires staying within world’s “carbon budget”—which doesn’t include unabated coal use.
Adapting to the impacts of climate change—like heat waves, increased floods, and natural disasters—is an enormous challenge. It’s also one that comes with an enormous price tag. Although it’s difficult to calculate the extent of the costs, the World Bank estimates that developing countries need $70 to $100 billion USD per year through 2050 to meet their current and future climate adaptation needs.
The Climate Policy Initiative, however, estimates that in 2011, only $4.4 billion USD in adaptation finance went to developing countries. This leaves a gap of anywhere from $65.6 to $95.6 billion USD per year between what developing countries need and what developed nations are giving.
So who can help fill this gap?