PARIS, FRANCE — Today at the One Planet Summit in Paris, France, the World Bank Group (WBG) made a series of announcements, including a headline announcement that they will end finance for upstream oil and gas projects after 2019, in order to align its support to help countries meet their goals under the Paris Agreement.
The One Planet Summit is a positive move in the right direction. But governments must step up with faster and more ambitious climate action.
Paris - The One Planet Summit saw the emergence of many positive initiatives namely the World Bank committing to stop financing oil and gas exploration and extraction projects by 2019 and AXA insurance halting all new coal and oil sands development and announcing 12 billion Euros of green investment by 2020. While they are positive steps in the right direction, these pledges are not enough to meet the objectives of the Paris Agreement and the needs of vulnerable communities to adapt to climate change and deal with the damages and losses caused by its impacts. We know from the 2017 United Nations Emissions Gap Report that we are not on track. The report tells us that we need to triple efforts, step up both private and public finance and accelerate the deployment of renewables to meet the goals of the Paris Agreement and keep warming below 1.5C.
This year is probably among the five-warmest since about 150 years and brought massive hurricanes in the Atlantic and the Caribbean, devastating floods in South Asia and out of control wildfires in California. Simultaneously, 2017 might have broken the global record of man-made CO2 emissions after three years of stagnating carbon pollution, indicating that global use of fossil fuels is growing stronger than its replacement by renewables.
G20 countries must show climate leadership by signalling their intent to enhance ambition as they prepare to assess progress on their national climate plans under the 2018 Talanoa Dialogue and revise their emission reduction targets by 2020.
COP23 shows there is a strong appetite for faster action and stronger ambition. Countries must work in the run up to COP24 next year and prepare to show they will step up and enhance ambition by 2020
BONN, GERMANY (November 17, 2017)— As the conclusion of the COP23 climate talks near, the key ingredients are coming together for 2018 to galvanize stronger climate action under the Paris Agreement.
Climate leadership starts with strong domestic action and developed countries must put more on the table on finance and overall support
15 November 2017, Bonn. The political phase of COP23 begins today, with ministers and some heads of state arriving for the high-level talks. Negotiations at the technical level have been reasonably successful, but will political leaders of wealthy nations recognise the urgency of moving beyond the cautious limits their negotiators were working within?
14 November 2017, Bonn: Speaking at a Climate Action Network press briefing today, Li Shuo, Greenpeace East Asia, reiterated the feeling that the first week has been smooth overall. “The Talanoa Dialogue discussions have gone well. Negotiations over transparency have gone surprisingly well, producing a good informal note and moving into substantive discussions. Discussions of the global stocktake lost some time in procedural back and forth, but also produced an informal note this morning.
9 November 2017, Bonn: The press briefing began by addressing the (Republican) elephant in the room: the Trump administration's decision to withdraw from the Paris Agreement.
Mariana Panuncio-Feldman, WWF, said the #WeAreStillIn coalition – which includes mayors, governors, business leaders and college presidents, American Indian tribes, faith leaders and more, representing some 130 million Americans – remains committed to climate action and an international agreement to take climate action forward.
7 November 2016, Bonn: On the second day of the UN Climate Conference in Bonn, speakers at the Climate Action Network press briefing welcomed a positive early announcement of funding, encouraged China to fully assume the leadership role it's been signalling, and again stressed the urgency for beginning a process to set out clear and effective rules for implementation of the Paris Agreement by the end of this COP.