Dear big fossil fuel companies,
Eco Digital Blog
Tomorrow will bring another round of discussions about the Framework for Various Approaches. ‘Round’ being the operative word, as things seem to have been going around (and ‘round) in circles. Some countries are keen (maybe too keen?) to engage, while others are not willing to talk at all—at least until the ADP discussions conclude. Parties should take advantage of the time available in Bonn to share their views and come to an agreement on key principles.
The topic of long term finance, and pathways to the US$100 billion commitment by 2020, were conspicuous only in its absence in the Workshops on Long Term Finance this week.
So how did we reach this sorry state?
During these processes, finance negotiators have become better and better at avoiding any controversial discussion of pathways, sources or scaling up. This week’s sessions were a perfect example of how to fill 6 hours of workshop time with nice presentations and polite discussions worthy of the finest side event. And not once going within a 10-meter radius of a controversial issue.
Shockwaves are being felt far and wide: global investments in renewable energy capacity have outpaced investments in new fossil-based power generation for the last 3 years. Yesterday, the Norwegian Parliament decided that the world’s biggest sovereign wealth fund will divest from coal.
ECO is quite the food buff, and hence has been salivating in anticipation of the spectacular cuisine later this year in Paris.
Much like turning snails into escargot, thoughts of Paris should inspire negotiators to turn a slow start at the facilitated meetings here in Bonn on Workstream 2 into meaningful work on a COP decision text.
With all that Parisian inspiration, Parties can deliver a delicious WS2 recipe:
As G7 leaders gather in Schloss Elmau, ECO has a few concrete thoughts on how their work can nudge the UNFCCC process towards an ambitious agreement in Paris.
As we emerge from the first week in Bonn, negotiators have been busy trekking through the text. Here’s some guidance for those who may be missing the forest for the trees on mitigation.
The land sector offers significant potential for climate change adaptation, and opportunity to reducing emissions. As highlighted in the SBSTA workshops this week, actions in this sector are crucial for protecting food security and livelihoods, particularly adaptation actions for vulnerable, small-scale food producers.
Much as the Incredible Hulk, Thor and Black Widow come together to join their super powers in the fight for good – the Standing Committee on Finance (SCF), SBSTA and SBI are joining forces to discuss methodologies to improve the reporting of climate finance. The evil they battle is a lack of transparency leading to problems such as double counting, miscalculations (or outright exaggeration) and little opportunity to gauge the impact of the resources received.
To unlock their full superhero potential ECO recommends: