Climate 411

Markets, stocktake, and impacts: The three issues to watch at the UN climate talks in Bonn

This post was co-authored by Julia Ilhardt, High Meadows Fellow at Environmental Defense Fund

Opening Plenary of Subsidiary Body for Implementation (SBI), 2019 climate negotiations in Bonn, Germany. UNclimatechange via Flickr.

Next week, climate negotiators will begin two weeks of meetings in Bonn, Germany to make progress on a full slate of issues—from carbon markets and finance to adaptation and loss and damage—before November’s global climate talks.

At these mid-year negotiating sessions, negotiators will continue to elaborate rules for international carbon markets, kick off dialogues on the global stocktake, and start work on critical processes to address the impacts of the climate crisis, among other things. They will build on the work completed at COP26 in Glasgow last year, and the results will give us an indication of what the upcoming COP27 negotiations in Sharm el-Sheikh, Egypt will look like.

1. Elaborate rules needed to “operationalize” international carbon markets

At COP26 in Glasgow—after six years of difficult, technical negotiations—countries delivered a strong Paris Agreement rulebook for international cooperation through carbon markets. These rules will give countries the tools they need for environmental integrity and ultimately clear a path to get private capital flowing to developing countries.

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Posted in Carbon Markets, International, Paris Agreement, United Nations / Comments are closed

Countries must heed IPCC reports as they review collective progress under the global stocktake

This post was authored by Maggie Ferrato, Senior Analyst for Environmental Defense Fund.

Forest family photo of World Leaders at COP26 in Glasgow, Scottland. Karwai Tang/ UK Government via Flickr.

The Intergovernmental Panel on Climate Change’s latest Working Group III report has made it clear that the world is not on track to meet the goals of the Paris Agreement—and emissions have continued to rise across all sectors—despite the technological and policy solutions that are increasingly available to decisionmakers.

It’s an important message that needs to be repeated with more urgency than ever. We already know we must do much more to reduce our emissions, including by transitioning more quickly from fossil fuels and rethinking how we grow our food. And in February, the IPCC’s Working Group II report highlighted the dramatic impacts the planet faces from a warming atmosphere, and how this decade is a critical window to adapt to our changing climate and limit the damage by dramatically cutting our emissions.

The IPCC reports taken together send a clear signal that countries must urgently set their ambitions much higher in the fight against climate change.

The good news is that the Paris Agreement was designed to ratchet up ambition over time. One of the mechanisms to make this happen, a process known as the “global stocktake,” is an opportunity to assess countries’ collective progress toward the Paris Agreement’s long-term goals on mitigation, adaptation and finance.

The IPCC reports provide an important backdrop for the UN’s global stocktake process. Here’s how countries can leverage the scientific research from the IPCC to conduct a stocktake that succeeds in increasing global ambition and action.

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Posted in International, Paris Agreement, United Nations / Comments are closed