COP26, WHAT HAVE YOU DONE FOR ME?
#COP26 #Ambition #ClimatyeFinance #LossandDamage
Private finance plays a growing role in supporting mitigation and adaptation. Will our central and commercial banks have a seat at the table, and will they pioneer green financing?
Developed and large developing country actors are moving ahead to set a global private finance framework, with several groupings such as the International Platform on Sustainable Finance (IPSF), the Glasgow Financial Alliance for Net Zero (GFANZ), the Network for Greening the Financial System (NGFS), and the Net Zero Asset Managers Initiative.
Small and vulnerable countries should ensure they have a say in the development of these arrangements.
#COP26 #ClimateFinance #SustainableFinance #GreenFinancing #PrivateFinance #NetZero
Agreements need clear rules to ensure implementation. COP26 must agree on a complete Rulebook that is fair to all countries, especially the poorest and most vulnerable.
The Rulebook of the Paris Agreement, which has not yet been finalised, provides guidance to the signatories of the Agreement on all aspects of implementation.
It stipulates how countries should prepare their Nationally Determined Contributions (NDC), such as what information should be included in a clear and transparent manner to demonstrate how each country plans to account for its greenhouse gas (GHG) emissions.
The issue of whether all NDCs should cover the same timeframe remains under negotiations.
With respect to financing, the Rulebook also specifies the type and level of information that developed and other countries providing support must communicate, and a process for how this information will be considered and discussed.
The Rulebook also offers guidance on the information participating countries should share concerning their own adaptation priorities, plans and actions.
#Rulebook #Fairness #ParisAgreement #GHG #Vulnerable
COP26 must agree on common timeframes for new NDCs that are fair to all and do not result in low ambition.
In the Paris Agreement, all countries were expected to submit, by 2020, the first of their Nationally Determined Contributions (NDC), showing how they would reduce emissions. COP26 is expected to make decisions with respect to the timeframe for new NDC submissions, how it applies to developed and developing countries, and its linkages with other processes and schedules under the Paris Agreement.
#ParisAgreement #Ambition #ReduceEmissions #1o5C
⭐ Loss & Damage: Operationalise It!
➡️ COP25 created the Santiago Network to catalyse technical assistance to address Loss & Damage at local, national, regional levels.
➡️ Will COP26 make the Santiago Network truly operational, and will there be new and additional finance for Loss & Damage?
➡️ This 2017 #1point5toStayAlive Loss & Damage video is a must to better understand the issue, as explained by Dawn Pierre-Nathoniel (Coordinator, Loss & Damage, Department of Sustainable Development, Saint Lucia, CARICOM & AOSIS). → 👀 WATCH HERE
➡️ For more context on Loss & Damage, follow this Climate Analytics link.
#1o5C #1point5toStayAlive #SantiagoNetwork #OperationaliseIt
Will COP26 deliver carbon markets that scale down emissions... or will it weaken national commitments and increase emissions, at the world's expense?
Article 6 was included in the Paris Agreement at the very end of the negotiations at COP21 in 2015, and it has been discussed at every COP since, with many contentions issues left unresolved. Its purpose is to regulate the carbon markets, whereby countries can purchase emission reductions from other nations that have already cut their emissions more than the amount they have pledged.
Negotiations at COP26 are expected to produce the precise rules that will govern these markets. One of the controversial issues is that Article 6 could actually weaken the countries’ commitments (their Nationally Determined Contributions) and increase global emissions. This could happen especially if there is double accounting, with the country that sells the “credits” also including these in its own reporting.
There are several other complex issues related to Article 6 that will be discussed in Glasgow this week.
#Article6 #CarbonMarkets #ParisAgreement #COP21 #1o5C
#1Point5toStayAlive COP25 - 2019 - Messages
#1Point5toStayAlive COP24 - 2018 - Messages