Australia, Austria, Belgium, Ireland, Iceland, Greece, Portugal and the European Union are the An-nex 2 Parties yet to make their pledges to the Green Climate Fund. ECO notes the same is true for Poland, Hungary and a few others. Five years ago, developed countries had not only promised to set up the fund but, also fill it. ECO, optimistic as ever, is convinced that all of them know rather well how much in these negotiations depends on the GCF getting off to a good start. They will not let us down.
Eco Digital Blog
The IPCC found that in order to get onto a 2°C pathway, there needs to be a massive shift in energy investment flows in the next 15 years. Hundreds of billions of dollars would need to be annually shifted away from fossil fuel investments, and into, first and foremost, energy efficiency, and secondarily, renewable energy.
There is a growing realisation, supported by AR5, that emission reductions are not a zero sum game. In fact, emission reductions will have significant development co-benefits. There are two aspects to this.
i) How can we try and ensure that global CO2-emissions go to zero to ensure that average temperatures do not rise beyond 1.5°C?
ii) What can the IPCC say on the past and future cost trends of CCS and renewables? Based on existing level of technological maturity, will CCS ever be a viable option for achieving global zero emissions of GHGs?
iii) What are the findings of the IPCC on the co-benefits (e.g. public health, economic benefits due to lower fuel prices) of low or zero carbon scenarios? How can one ensure that co-benefits are recognised and pursued?
The importance of equity in the 2015 agreement has broad support, but what an equitable agreement applicable to all actually means is both an unclear and controversial issue. Disagreement exists on the operationalisation and scope of equity, and on approaches for assessment of the INDCs.
We are very happy to be in Lima, and ECO is ready to get right to it. COP20 needs to deliver on enough confidence building measures to ensure climate action and a successful outcome from next year’s COP in Paris. The wheels have already started turning:
-The Peruvian COP presidency has shown commitment and substantial
effort to guide the negotiations onto the right track.
At the Vigil for the Climate outside the Pentagonito, Christiana Figueres, executive secretary of the UNFCCC, and Manuel Pulgar-Vidal, the Peruvian Minister for the Environment and incoming COP president. The lighting of candles begins the celebration of the first year of monthly fasting by faith and environmental groups around the world in the Fast for the Climate.
Today, on the occasion of the opening of COP20, marks the largest climate fast on record, with the whole nation of Tuvalu called on to fast, and empty tables being erected round the world.
Let’s start off this COP with a bit of a reality check on the progress (or lack thereof) on phasing out dirty fossil fuels – particularly in developed countries. Scientists have shown that we currently have many times more fossil fuels in existing reserves than our global carbon budget can withstand in a 2 oC scenario. Yet governments continue to subsidize the exploration and production of even more fossil fuels. So again ECO reminds about their existing commitments to phase out these subsidies.