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C2ES Events in Marrakech

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Charting a Low-Carbon Course for the U.S. EconomyU.S. Center, Blue ZoneNovember 15, 2016, 4 p.m. -- 5 p.m. (11 a.m.-Noon EST) Side Event: Post-Election: The Outlook for U.S. Climate PolicyIETA Pavilion, Blue ZoneNov 16, 2016, 6 p.m. – 7:30 p.m. Reception: Business-Driven DiplomacyU.S. Center, Blue ZoneNovember 16, 2016, 7 p.m. – 9 p.m.  

Charting a Low-Carbon Course for the U.S. Economy

November 15, 2016
4 p.m. -- 5 p.m. (11 a.m.-Noon EST)
U.S. Center, Blue Zone

See a recap of this event on our blog: Businesses continue to lead on climate

American business understands that there is both opportunity in getting ahead of the climate curve, and considerable risk and cost to inaction. The Center for Climate and Energy Solutions (C2ES) and the Edison Electric Institute co-host this side event to showcase the actions of mainstream US businesses, including those who have signed the American Business Act on Climate Pledge, and are members of the C2ES Business Environmental Leadership Council, a group of 30 companies with a combined $2.3 trillion in revenue and over 3 million employees that support mandatory climate policy and are acting to reduce emissions. See our business statement applauding the Paris Agreement.

Speakers

Cathy Woollums
Senior Vice President, Environmental Services and Chief Environmental Counsel
Berkshire Hathaway Energy

Nanette Lockwood
Global Director, Policy and Advocacy
Ingersoll Rand

Kevin Rabinovitch
Global Sustainability Director
Mars Incorporated

Tamara “TJ” DiCaprio
Senior Director of Environmental Sustainability
Microsoft

Eric Holdsworth
Senior Director, Climate Programs
EEI

Moderator: Elliot Diringer
Executive Vice President
C2ES

Post-Election: The Outlook for U.S. Climate Policy

November 16, 2016
6 p.m. – 7:30 p.m.
IETA Pavilion, Blue Zone

U.S. policymakers and business leaders will provide their perspectives on what this pivotal election means for climate progress in Washington and at the state level. 

Speakers

Nathaniel Keohane
Vice President, Global Climate
Environmental Defense Fund

Josh Klein
Senior Professional Staff
Senate Foreign Relations Committee 

Matt Rodriquez
Secretary for Environmental Protection
California

Cathy Woollums
Senior Vice President, Environmental Services and Chief Environmental Counsel
Berkshire Hathaway Energy

Elliot Diringer
Executive Vice President, C2ES
 
Reception: Business-Driven Diplomacy
 
November 16, 2016
7 p.m. – 9 p.m.
U.S. Center, Blue Zone
 
Reception at the U.S. Center recognizing the role of the private sector in addressing climate change and reducing GHG emissions. Attendees are expected to include delegates from the EU, Umbrella Group, and developing countries, as well as business and industry representatives from around the world, environmental NGOs and academia. It will feature remarks by U.S. delegation official TBD, Elliot Diringer (C2ES), and Dirk Forrester (IETA).

A critical opportunity to build on the Paris Agreement

International negotiators are gathering in Kigali, Rwanda, with the goal of phasing down one of the most potent and rapidly expanding greenhouse gases affecting the climate.

Momentum is building for taking action on hydrofluorocarbons (HFCs), a family of industrial chemicals used worldwide in air conditioners, refrigeration, foam products, and aerosols.

  • On the sidelines of the recent U.N. General Assembly, more than 100 nations signed a declaration calling for an amendment to the Montreal Protocol to ambitiously deal with HFCs, with an early freeze date for developing countries and an early first reduction step for developed countries.
  • To jump start the transition away from HFCs, 16 donor nations have offered $27 million in new and additional money for use by developing countries in limiting HFC use in 2017. Donor countries are also committing to support the longer-term phase-down costs under the Montreal Protocol’s Multilateral Fund.
  • In an unprecedented move, a group of philanthropists (19 foundations and private individuals including Bill Gates and Tom Steyer) have offered an additional $53 million to developing countries to support efforts to move from HFCs to more energy-efficient alternatives.
  • More than 500 companies and organizations issued a call to action in support of an ambitious agreement on an HFC phasedown at the 28th Meeting of the Parties to the Montreal Protocol October 10-14.

Action on HFCs is the single most significant step nations can take this year to advance the goal established in the Paris Agreement of limiting global temperature increases to well below 2 degrees Celsius. Estimates are that an ambitious HFC amendment would reduce global warming by as much as 0.5 degrees by the end of the century. 

While momentum for an ambitious agreement this year is strong and building, it is by no means assured. Even with more than 100 nations on board, reaching an international consensus in Kigali will not be easy. 

A large number of developed and developing countries have supported a developing country freeze in HFC use beginning around 2021, but India has supported a 2030 freeze date and Gulf Cooperation Council countries proposed a 2028 freeze. 

Issues under discussion include the costs and availability of alternatives, the role and timing of patent protections, the rules governing support of projects under the Multilateral Fund, and the need for updated standards for the safe handling and use of more flammable refrigerant alternatives. While there is general support for incorporating enhanced energy efficiency into the transition away from HFCs, there are questions about the ways to achieve this objective.

Solutions are on the table for all of these issues. Given progress to date and the financial resources now available to developing countries to support an ambitious HFC amendment, agreement in Kigali is well within reach. The costs of acting to reduce HFCs are small compared to the very real and present costs of inaction to limit changes to our climate.

Legal Note: Could a Future President Reverse US Approval of the Paris Agreement?

Legal Note: Could a Future President Reverse US Approval of the Paris Agreement?

October 2016

By Daniel Bodansky

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Like other treaties, the Paris Agreement includes provisions spelling out the manner in which a party may choose to exercise its right to withdraw. This note summarizes these provisions; relevant provisions of the U.N. Framework Convention on Climate Change (UNFCCC); related international law; and related provisions and practices under U.S. law. It also looks beyond these legal considerations at the potential diplomatic ramifications should the United States withdraw from the Paris Agreement. 

Daniel Bodansky
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A new flight path for reducing emissions from global aviation

After years of intense negotiations, governments have agreed on a framework for limiting greenhouse gas emissions from international aviation.

It’s the first climate agreement encompassing an entire sector of the global economy. It’s also the first to employ a market-based climate strategy across a global sector, which will help reduce emissions cost-effectively and expand international carbon markets.

International airline travel is among the fastest growing sources of greenhouse gases. Aviation emissions are expected to triple by 2050 without additional action, making this agreement urgent.

Governments agreed earlier this year at the International Civil Aviation Organisation (ICAO) to phase in new standards for more efficient aircraft design. ICAO is also encouraging operational efficiencies, such as altering flight routes, and the development of lower-carbon fuels.

But these efforts alone won’t meet the goal set by airlines and governments: to freeze aviation emissions at 2020 levels.

That’s why the centerpiece of the ICAO agreement reached October 6 is a market-based measure that will allow airlines to offset any growth in their emissions beyond 2020 levels with reductions in other sectors.

A market-based approach gives businesses the flexibility to choose the most economically efficient way to reduce emissions, which ultimately saves money for consumers. Emissions reductions can be achieved at a lower cost outside the aviation sector, particularly given the projected growth in air traffic in coming decades.

Having an entire sector of the global economy using a market-based approach could spur governments to undertake market approaches in other sectors. The ICAO agreement also comes as nations work toward guidelines under Article 6 of the Paris Agreement to ensure the environmental integrity of offsets and avoid double counting.

Initially, participation in the ICAO program will be voluntary. The United States, Canada, Mexico, China, Singapore, and 44 European nations have committed to sign up from day one. Eventually the program will be extended to all countries, with the exception of least developed countries, landlocked developing countries, and those with only a minor share of global international aviation.

Each individual airline’s offsetting responsibility will be based at first on the overall sector’s emissions growth, to be fairer to fast-growing airlines, and then shift toward an individual airline’s emissions growth.

While the agreement provides an initial framework, details remain to be negotiated. For example, the agreement sets a deadline of 2018 to set Emissions Unit Criteria that will determine what types of offsets are eligible.

The ICAO agreement falls short of universal participation in its earliest stages, but still provides a sensible and practical framework that we can build on to reduce commercial aviation emissions and expand market-based approaches to climate change.

Statement on ICAO global aviation emissions agreement

Statement of Bob Perciasepe
President, Center for Climate and Energy Solutions

October 6, 2016

On the agreement on an international framework for controlling emissions from the global aviation sector at the International Civil Aviation Organisation (ICAO) 39th Assembly:

Today’s agreement is another major step in global efforts to combat climate change, and a clear sign that the momentum we saw in Paris continues to build. The agreement provides a practical framework for harnessing market forces to limit the rapid growth in airline emissions.

International aviation is among the fastest growing sources of greenhouse gases. Without new measures, emissions are expected to triple by 2050.

Governments in the United States and around the world are already using flexible market-based approaches to cut emissions cost-effectively. This agreement is the first to apply a market-based climate strategy across an entire sector of the global economy. By allowing airlines to offset emission increases with reductions in other sectors, the agreement provides an economical way to hold aviation emissions at 2020 levels.

With this framework in place, governments and airlines should move quickly to develop rules ensuring a smooth-working market that delivers real reductions.  

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For more information:

To speak to a C2ES expert, please contact Laura Rehrmann at rehrmannl@c2es.org

About C2ES: The Center for Climate and Energy Solutions (C2ES) is an independent, nonprofit, nonpartisan organization promoting strong policy and action to address our energy and climate challenges. Learn more at www.c2es.org.

International Civil Aviation Organisation (ICAO)

Governments are working toward a new international agreement in October 2016 to limit greenhouse gas emissions from aviation.  Airline emissions account for 2 percent of global greenhouse gas emissions and, without stronger measures, could triple by 2050.

In 2010, the International Civil Aviation Organisation (ICAO), the United Nations body that governs civil aviation, set a goal of carbon-neutral growth starting in 2020.  At the 39th ICAO Assembly in October 2016, member states agreed two policies to meet the carbon-neutral goal: international CO2 standards for aircraft; and a market-based mechanism to offset aviation emissions with reductions in other sectors.   

Meeting the carbon-neutral goal will require efficiency improvements to reduce fuel use, new alternative fuels, operation improvements, and infrastructure upgrades.

CO2 Standards for Aircraft

In February 2016, the ICAO Committee on Aviation Environmental Protection (CAEP) gave preliminary approval to a CO2 standard for new aircraft, which was formally adopted at the 2016 ICAO Assembly.  The standard effectively mandates that each new generation of aircraft continue to achieve the 15-20 percent fuel efficiency gains seen in recent generations.

The standard will apply in three stages. From 2020, all new aircraft designs would have to comply with the new standards.  From 2023 to 2028, all aircraft models currently being produced will have to meet a less stringent “in-production” standard if they undergo modifications requiring re-certification. From 2028, all new aircraft will have to meet the full standards. 

Virtually all aircraft types in the global commercial fleet will be covered by the CO2 standard, which applies a complex formula based on fuel use during the “cruise” portion of a flight, adjusted for fuselage size.

A Market-Based Mechanism

Governments worked with the airline industry to design a market-based mechanism enabling airlines to offset increased emissions with reductions in other sectors.  With air travel projected to continue rising rapidly, airlines are expected to rely heavily on offsets to achieve carbon-neutral growth.  The World Bank estimates demand for offsets to reach 250 MtCO2e by 2030 and a cumulative 13-20 GtCO2e by 2050.

The Market-Based Measure is known as the Carbon Offset and Reduction System for International Aviation (CORSIA). These are the main features of the CORSIA:

  • The CORSIA would commence with a pilot phase from 2021 to 2023, a first phase from 2024 through 2026, and a second phase from 2027 through 2035. In the pilot and first phases, participation will be voluntary. More than 60 countries have agreed to join the program during the voluntary phase, including the U.S., China, European states, Mexico and others. In the second phase, all states not exempted (see below) will be required to participate.

  • Exemptions from the second phase apply to least developed countries (LDCs), small island developing states (SIDS), landlocked developing countries (LLDCs) and those with a share of international aviation below 0.5 percent in 2018. This is calculated on the basis of Revenue-Tonne-Kilometers (RTK), a measure of revenue generated moving a metric tonne by one kilometer.
  • Offset requirements during the pilot phase can be calculated either on the basis of an operator’s emissions during the given year (e.g. 2021-level emissions in 2021), or they could refer back to 2020 emissions throughout the pilot phase. It is up to each participating state to choose between these approaches.
  • ·      In the pilot phase, first phase, and the first two years of the second phase (i.e. from 2021 to 2029) the distribution of offsetting requirements would be completely on the basis of the growth rate of the sector overall, rather than each individual airline’s growth rate. This ratio would change over time, however, so that in 2030 to 2032, 20 percent would be on the basis of individual airline’s growth rate, and the rest on the basis of the sector. This grows to 70 percent individual rate applied from 2032 to 2035.

Some issues will require further negotiation. A centralized registry under the auspices of ICAO will be designed by 2018, to take effect once the CORSIA begins. In addition, a monitoring, reporting and verification (MRV) system and the Emissions Unit Criteria (EUC), which determines what offsets are eligible to be used for compliance, will be decided by 2018.

 

Paris Climate Agreement Q&A

Paris Climate Agreement Q&A

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More than 190 nations meeting in Paris in December 2015 reached a landmark agreement to strengthen the global climate effort. The Paris Agreement commits countries to undertake “nationally determined contributions” and establishes mechanisms to hold them accountable and to strengthen ambition in the years ahead.

C2ES offers a summary of the key outcomes in Paris and other resources related to the climate talks. Here are answers to some frequently asked questions.

What’s the status of the Paris Agreement?

The Paris Agreement will formally enter into force on November 4, 2016. Under the terms of the agreement, it enters into force 30 days after being formally accepted by 55 countries accounting for 55 percent of global greenhouse gas emissions. Those thresholds were reached on October 5, 2016. Other countries will become parties to the Paris Agreement as they complete their domestic approval procedures.

What were the main outcomes of the Paris conference?

The Paris conference was the 21st session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC), known as COP 21. The conference concluded a round of negotiations launched in Durban, South Africa, in 2011 with the aim of producing a new legal agreement among national governments to strengthen the global response to climate change. A record 150 heads of state and government attended the opening day of the conference.

The Paris package had three main components: the Paris Agreement, an international treaty setting common goals, commitments and expectations; the intended “nationally determined contributions” (NDCs) submitted by more than 180 countries; and the thousands of contributions offered by companies, states, cities and civil society organizations.

How does the Paris Agreement relate to the UNFCCC?

The UNFCCC, adopted in 1992, is a treaty among governments that provides a foundation for the global climate effort. Enjoying near-universal membership, the convention was ratified by the United States with the advice and consent of the Senate. The convention set a long-term objective (avoiding “dangerous human interference with the climate system”), established principles to guide the global effort, and committed all countries to “mitigate” climate change by reducing or avoiding greenhouse gas emissions. The Paris Agreement defines how countries will implement their UNFCCC commitments after 2020.

What are nationally determined contributions?

In 2013, at COP 19 in Warsaw, parties were encouraged to submit their “intended nationally determined contributions” (INDCs) to the Paris Agreement well in advance of COP 21. These INDCs represent each country’s self-defined mitigation goals for the period beginning in 2020. To date, 189 countries accounting for almost 99 percent of global emissions have submitted INDCs to the UNFCCC secretariat.

Developed countries have offered absolute economy-wide emissions targets (the United States, for instance, has pledged to reduce its emissions 26-28 percent from 2005 levels by 2025). Developing countries have offered a range of approaches, including absolute economy-wide targets, reductions in emissions intensity (emissions per unit of GDP), reductions from projected “business-as-usual” emissions, and reductions in per-capita emissions. C2ES has produced a summary of countries’ INDCs.

Final NDCs are submitted by each party upon its formal ratification or acceptance of the agreement, and are recorded in a UNFCCC registry.

What obligations do countries have under the agreement to reduce their emissions?

The Paris Agreement establishes a set of binding procedural commitments. Parties commit to “prepare, communicate and maintain” successive NDCs; to “pursue domestic mitigation measures” aimed at achieving their NDCs; and to regularly report on their emissions and on progress in implementing their NDCs. The agreement also sets the expectation that each party’s successive NDC will “represent a progression” beyond its previous one and “reflect its highest possible ambition.”  The achievement by a party of its NDCs is not a legally binding obligation.

Does the agreement meet the goal of limiting warming to 2 degrees Celsius?

In agreements adopted in Copenhagen in 2009 and Cancún in 2010, governments set a goal of keeping global temperature increases below 2 degrees Celsius above pre-industrial levels. The Paris Agreement reaffirms the 2-degree goal, while urging efforts to limit the increase to 1.5 degrees Celsius. The agreement also sets two other long-term mitigation goals: first, a peaking of emissions as soon as possible (recognizing that it will take longer for developing countries); then, a goal of net greenhouse gas neutrality (“a balance between anthropogenic emissions by sources and removals by sinks”) in the second half of the century.

Analyses of the INDCs submitted by countries conclude that, while they move us closer to the 2-degree goal, they are not ambitious enough to achieve it. An analysis by the Climate Action Tracker, a consortium of research institutions, concluded that the INDCs, if fully implemented, could result in warming of 2.7 degrees Celsius, which would be 0.9 degrees lower than without them.

How will the Paris Agreement get countries to increase their ambition?

The Paris Agreement provides a durable framework guiding the global effort for decades to come. The aim is to create a continuous cycle that keeps the pressure on countries to raise their ambition over time. To promote rising ambition, the agreement establishes two linked processes, each on a five-year cycle. The first process is a “global stocktake” to assess collective progress toward meeting the agreement’s long-term goals. Parties will then submit new NDCs, “informed by the outcomes of the global stocktake.”

Because the Paris Agreement is to apply post-2020, the first formal stocktake under the agreement will not take place until 2023. But under a decision accompanying the agreement, parties will jumpstart the five-year cycle with a “facilitative dialogue” on collective progress in 2018, and the submission by 2020 of NDCs running through 2030.

How will parties be held accountable?

Accountability will be achieved primarily through an “enhanced transparency framework.” All countries are required to submit emissions inventories and the “information necessary to track progress made in implementing and achieving” their NDCs. These reports will be subject to an independent review by technical experts and a “facilitative, multilateral consideration of progress” by fellow governments.

Unlike the current transparency system under the UNFCCC, which sets different requirements for developed and developing countries, the new transparency framework will apply to all countries but provide “built-in flexibility” to accommodate varying national capacities. The aim is for all parties to work toward the same standards of accountability as their capacities strengthen over time.

In addition, the agreement establishes a new mechanism to “facilitate implementation and promote compliance.” This “non-adversarial” committee of experts will seek to help countries falling behind on their commitments get back on track. There are no penalties for noncompliance.

How does the agreement address climate adaptation?

Adaptation—steps to cope with the impacts of climate change—receives much greater emphasis under the Paris Agreement than previously under the UNFCCC. Just as parties will submit mitigation contributions, the agreement requires all parties, “as appropriate,” to plan and implement adaptation efforts and encourages all parties to report on their adaptation efforts and/or needs. The agreement also includes a review of adaptation progress, and the adequacy and effectiveness of adaptation support, in the global stocktake to be undertaken every five years.

What does the Paris outcome do to support the efforts of developing countries?

Developed countries committed under the UNFCCC to support mitigation and adaptation efforts in developing countries. As part of the Copenhagen and Cancún agreements, developed countries committed to mobilize $100 billion a year in public and private finance for developing countries by 2020.

The Paris Agreement reaffirms developed countries’ UNFCCC obligations; the COP decision accompanying the agreement extends the $100 billion-a-year goal through 2025, and calls for a new goal beyond that “from a floor of” $100 billion a year. The agreement also broadens the donor base beyond developed countries by encouraging other countries to provide support “voluntarily.” China, for instance, recently pledged $3 billion to help other developing countries.

Many national governments offered new financial pledges in Paris. Collectively, developed countries pledged $19 billion to help developing countries, including an announcement by Secretary of State John Kerry that, by 2020, the United States will double its support for adaptation efforts to $800 million a year. In another sign that developing countries are now also providing support, Vietnam pledged $1 million to the new Green Climate Fund (GCF). And for the first time, subnational governments also offered pledges, including 1 million euros from the city of Paris for the GCF, and CAD 6 million from Quebec for the UNFCCC Least Developed Countries Fund. As of June 2016, $10.3 billion has been pledged to the Green Climate Fund from 43 governments.

Does the Paris Agreement address carbon markets?

Many countries indicated in their INDCs that they intend to use some form of international emissions trading to implementing their contributions. To ensure the environmental integrity of such transactions, the agreement requires parties to follow accounting practices avoiding the double counting of “internationally transferred mitigation outcomes.” In addition, the agreement establishes a new mechanism contributing to mitigation and supporting sustainable development, which, depending on its design, could generate or certify tradable emission units.

How did the Paris conference engage stakeholders such as states, cities and business?

Although only national governments participate directly in the negotiations, COP 21 provided many opportunities to showcase the contributions of “non-state actors” to the global climate effort. The strong display of commitments by cities, subnational governments and businesses at the New York Climate Summit in September 2014 led to the establishment at COP 20 of the Lima-Paris Action Agenda and the online NAZCA portal, where non-state actors can register their commitments. By the time of Paris, the portal listed nearly 11,000 commitments from 2,250 cities, 22,025 companies, and hundreds of states/regions, investors and civil society organizations. The unprecedented showing of action and support from all levels of society was widely credited as an important factor in Paris’ success.  Governments and stakeholder groups are working to strengthen non-state contributions to the UNFCCC.

Is the agreement legally binding?

Yes. The agreement is considered a “treaty” under international law, but only certain provisions are legally binding. The issue of which provisions to make binding was a central concern for many countries, in particular the United States, which wanted an agreement the president could accept without seeking congressional approval. Meeting that test precluded binding emission targets and new binding financial commitments. The agreement, however, includes binding procedural commitments – such as the requirements to maintain successive NDCs and to report on progress in implementing them.

Will Congress have any say over the agreement?

Under U.S. law, a president may under certain circumstances approve U.S. participation in an international agreement without submitting it to Congress. Important considerations include whether the new agreement is implementing a prior agreement such as the UNFCCC that was ratified with the advice and consent of the Senate, and whether it is consistent with, and can be implemented on the basis of, existing U.S. law. Because the agreement does not include binding emission targets, or binding financial commitments beyond those contained in the UNFCCC, and can be implemented on the basis of existing law, the president could choose to approve it by executive action.

A C2ES legal analysis examines issues surrounding U.S. acceptance of the Paris Agreement.

Could a future president withdraw the United States from the agreement?

Under U.S. law, U.S. participation in an international agreement can be terminated by a president, acting on executive authority, or by an act of Congress, regardless of how the United States joined the agreement. The Paris Agreement specifies that a party may not withdraw from the agreement within the first three years following its entry into force.

What happens next?

As other countries complete domestic procedures to formally accept the Paris Agreement, all parties are also expected to continue moving forward with the domestic policies needed to implement their nationally determined contributions. At the same time, governments are negotiating the details of how the Paris Agreement will be implemented – for instance, accounting rules and accountability procedures. These decisions are likely to be finalized by 2018.

The next major UNFCCC conference, COP 22, will take place in Marrakech, Morocco, in November 2016. The conference will mark the first meeting of the Paris Agreement’s governing body, known as the CMA. This initial session of the CMA will likely be suspended until next year or later to allow parties more time to complete the decisions needed to fully implement the agreement.

Business support for the Paris Agreement


 

On October 5, 2016, 11 major corporations based or operating in the United States voiced support for the Paris Agreement as an expression of the strong governmental leadership needed to smoothly transition to a low-carbon, sustainable future.

The companies are endorsing a statement organized by the Center for Climate and Energy Solutions applauding the swift action by governments to bring the Paris Agreement into force, encouraging other governments to move expeditiously to formally join, and pledging to work with countries to enact and implement the necessary domestic measures.

The full text is below.
Download a PDF of the statement
 

BUSINESS STATEMENT APPLAUDING THE PARIS CLIMATE AGREEMENT

This statement was developed by the Center for Climate and Energy Solutions (C2ES) and is supported by the major companies listed below.

We applaud the swift action by governments to bring the Paris Agreement into force. The Paris Agreement on climate change is a landmark achievement – it establishes an inclusive, pragmatic and, hopefully, durable framework for progressively strengthening efforts globally to address the causes and consequences of climate change.

We recognize the rising environmental, social, economic, and security risks posed by climate change. As businesses concerned about the well-being of our investors, our customers, our communities, and our planet, we are committed to working on our own and in partnership with governments to mobilize the technology, investment and innovation needed to transition to a sustainable, low-carbon economy.

We welcome the Paris Agreement as an expression of the strong governmental leadership needed to smoothly transition to a low-carbon, sustainable future. The agreement will help to facilitate and strengthen the role of the private sector in this transition by:

  • Providing Long-Term Direction – The goals of keeping warming below 2°C, peaking global emissions, and achieving net greenhouse gas neutrality signal markets to shift investment toward the diverse range of technologies needed to achieve them.
  • Promoting Transparency – By requiring countries to be transparent about their policy intentions and implementation, the agreement will provide greater clarity on policy landscapes, enabling companies to better anticipate regulatory risks and economic opportunities.
  • Addressing Competitiveness – Global participation and the regular, simultaneous renewal of national contributions will promote a greater comparability of effort, helping to address potential carbon leakage and competitive imbalances that remain a concern for business.
  • Facilitating Carbon Pricing – Allowing, and ensuring the environmental integrity of, international emissions trading will help facilitate the growth and credibility of carbon markets, a critical tool for cost-effective emissions reduction.

We encourage other governments to move expeditiously to formally join the Paris Agreement, and pledge to work with countries to enact and implement the domestic measures needed to achieve their national contributions.
 

BERKSHIRE HATHAWAY ENERGY • CALPINE • HP INC. • INTEL • LAFARGEHOLCIM
MICROSOFT • NATIONAL GRID • PG&E • RIO TINTO • SCHNEIDER ELECTRIC • SHELL

 

Additional Resources

Targets and Actions under the Copenhagen Accord

Targets and Actions under the Copenhagen Accord

The Copenhagen Accord, a political agreement struck by world leaders at the 2009 U.N. Climate Change Conference in Copenhagen, calls on participating countries to pledge specific actions they will undertake to mitigate greenhouse gas emissions.  This represents the first time ever that all of the world’s major economies have offered explicit international climate pledges.

In the case of Annex I (developed) countries, the nonbinding Accord calls for quantified economy-wide emission targets for 2020.  In the case of non-Annex I (developing) countries, it calls for “nationally appropriate mitigation actions,” but does not specify what form they should take.  (Least developed and small island countries “may undertake actions voluntarily and on the basis of support.”)   

As of May 24, 2010, 99 parties (counting the 27 member states of the European Union as a single party) had filed submissions with the U.N. climate change secretariat :

  • 16 Annex I countries submitted 2020 emissions targets ;
  • 37 non-Annex I countries submitted mitigation actions; and 
  • 46 other non-Annex I countries associated with the accord.

The following is a summary of information submitted to date. Please check back regularly for updated information or visit the UN Climate Change Convention website.

Click here for a full summary of targets and actions under the Copenhagen Accord (pdf).

Click here for a side-by-side comparison of main provisions of the Copenhagen Accord, the draft core decision texts carried forward from Copenhagen in the UNFCCC Ad Hoc Working Group on Long-Term Cooperative Action (AWG-LCA), and the text prepared by the AWG-LCA Chair in May 2010 to facilitate further negotiations.

 

Mitigation Pledges Under the Copenhagen Accord

In the Copenhagen Accord, countries agree that “deep cuts in global emissions are required… so as to hold the increase in global temperature below 2 degrees Celsius…”  To date, nearly 50 parties (counting the European Union as a single party) have submitted specific mitigation pledges under the Accord. Several analyses (summarized here) have assessed whether these pledges are consistent with the goal of limiting global temperature increase to 2 degrees Celsius.

Our review of these analyses finds that:

  • Most show the pledges are inadequate to achieve a 2-degree goal, and instead imply a global emissions pathway leading to 3 to 3.9 degrees of warming.
  • Collectively, the pledges would reduce global emissions between 4 percent and16 percent below business as usual (BAU) in 2020.  (All projections of the pledges’ impact on emissions show ranges of reductions because many of the pledges specify ranges, with the more ambitious end of the range applying if stipulated conditions are met. ) A 2-degree pathway requires reductions of 21 percent to 26 percent below BAU. 
  • Pledges by developed countries would reduce their emissions 10 percent to 13 percent below BAU in 2020, and pledges by developing countries would reduce their emissions 6 percent to 9 percent below BAU.

Click here for more analysis of how countries' pledges may affect global temperature increases.

 

Further Resources

Our Policy Viewpoints and Statements:

 More COP15 resources available here.

 

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