Ratcheting Up Mechanism
1 June 2015
Paris should not lock in, unacceptably and dangerously, low ambition on mitigation and finance. Periodic upward revision of ambition based on changing circumstances should be built into the text to help close the pre–2020 emissions gap. The mechanism of ratcheting up would thus help reduce the risk of locking in irreversible emission trajectories.
This mechanism should not be limited to just mitigation but should be all encompassing. It should review the respective mitigation component of INDCs and their adequacy as well as fairness in relation to others. It should also allow for the regular setting and adjusting of targets for financial support. The mechanism should also look at potential areas where various UNFCCC institutions could play a much stronger facilitative role, for example the TEC and CTCN, particularly on adequacy-guided technological innovation.
There are disparate elements of this ratcheting up mechanism within the current draft text, and ECO asks Parties to flesh these elements out and afford the issue of ratcheting up the necessary negotiating time and priority.