Climate 411

North Carolina can still avoid huge amounts of emissions (and stranded carbon emitting assets) under the state’s Carbon Plan Law. Here’s how.

On November 1, the North Carolina Utilities Commission issued an order in the Carbon Plan docket, almost two months ahead of schedule. It largely ratifies an agreement reached by Duke Energy and the state’s Public Staff, who are charged with protecting the state’s ratepayers. While the Commission drops the requirement for Duke Energy to model hitting the 70% carbon emission reduction by 2030 in state law, largely due to a boom in electricity demand, the utility is still required to take “all reasonable steps” to hit the target by the “earliest possible date.” Which begs the question, what is the earliest possible date? A new white paper from EDF comes to the conclusion that North Carolina can still hit the target by 2032, even with the new carbon-emitting resources moving forward under this order.

Read More »

Posted in Cities and states, Economics, Energy, Greenhouse Gas Emissions, News / Authors: / Comments are closed

Growing costs of climate emergency demand ambitious policy — not business as usual

 

Photo: Pexels

Fear, uncertainty and doubt are frequently-used tools to undermine environmental policy. For decades, polluters and their sympathizers rejected the existence of climate change. Now, they say climate action costs too much. This recurring argument ignores the costs working Californians are already facing from a changing climate and the clear benefits of California’s climate policy in order to justify “business as usual” for the biggest polluters.

Californians rightly want to understand fluctuations in day-to-day energy prices, but debates over these issues cannot conveniently ignore the significant costs of climate inaction, its impact on our cost of living and its disproportionate impact on families with low incomes.

  • A national report ranked California the worst state for natural disasters fueled by a changing climate, with expected annual losses totaling more than $16 billion statewide
  • Home insurance is harder and more expensive to get. Seven of California’s largest property insurers, State Farm, Allstate, Farmers, USAA, Travelers, Nationwide and Chubb recently limited new homeowners policies in the Golden State — raising questions about the stability of the California home insurance market.
  • During an 11-year period, exposure to wildfire smoke caused more than 50,000 deaths in California and more than $400 billion in economic impacts.
  • During seven extreme heat events over the past decade, California experienced $7.7 billion in losses.

Read More »

Posted in California, Carbon Markets / Authors: / Comments are closed

10 Trends and Opportunities in the 2024 NDC Synthesis Report 

The United Nations Framework Convention on Climate Change (UNFCCC) published the NDC Synthesis Report this week. The report assesses the combined impact of nations’ current national climate plans (NDCs) on expected global emissions in 2030, among other measures.

The report concluded that the full implementation of all latest NDCs is estimated to lead to a 5.9 (3.2–8.6) percent emission reduction by 2030 relative to the 2019 level. This falls short of what the planet requires.  

While the emissions gap remains concerning, the latest NDC Synthesis Report reveals important trends and opportunities as countries prepare their next round of climate commitments. These trends point to a growing maturity in climate action planning and implementation, offering pathways to accelerate ambition and action. The synthesis reveals significant momentum in methane abatement, nature-based solutions, agricultural transformation, and ocean protection, though important gaps remain.  

  1. Integrated, Whole-of-Society Climate Action: Countries are increasingly adopting integrated approaches to climate action, with stronger recognition of nature-based solutions and ecosystem-based adaptation. The synthesis shows growing alignment between climate action, biodiversity conservation, and sustainable development objectives. This integration extends to disaster risk reduction and resilience building, suggesting a more comprehensive approach to addressing climate challenges. 
  2. Strengthened Planning and Implementation: The report highlights significant progress in institutional frameworks, with 97% of Parties providing detailed NDC planning processes. Notably, 48% have integrated climate targets into national legislation, while 56% have established specific policy instruments for implementation. The growing institutionalization of climate action – with 88% indicating robust domestic arrangements for coordination and implementation – suggests countries are building stronger foundations for enhanced climate action. 
  3. Indigenous Peoples and Local Communities at the Forefront: A marked shift toward inclusive climate action is evident, with 60% of Parties now acknowledging Indigenous Peoples in their NDCs. Beyond recognition, countries are developing specific support mechanisms, including improved access to finance, capacity building for Indigenous-led climate action, and enhanced market access for Indigenous products. This trend acknowledges both vulnerabilities and the crucial role of traditional knowledge in climate solutions, though opportunities remain for stronger inclusion in decision-making and implementation. 
  4. Market Mechanisms and Article 6 Readiness: Countries demonstrate growing interest in carbon markets and cooperative approaches, with 78% planning to use some form of voluntary cooperation – up from previous years. While 12% make Article 6 use conditional for achieving targets, there’s increasing emphasis on quality criteria, including additionality, permanence, and avoiding double counting. This signals the need for robust frameworks supporting market mechanisms, including clear accounting rules and monitoring systems. 
  5. Methane Action Opportunity for Quick Wins: With 91% of Parties covering methane emissions but only 5% setting specific targets, there’s significant potential for enhanced methane action. Countries identify opportunities across waste management, agriculture, and oil and gas operations. However, implementation gaps in monitoring and measurement need addressing, alongside increased financial and technical support for methane reduction initiatives. 
  6. Feedback loops and impact learning as Strategic Opportunities for Enhancement. While 53% are developing measurement and verification systems, only 3% plan to use feedback for future NDC preparation. This highlights a critical opportunity to strengthen learning and adaptive management in climate action. Enhanced monitoring frameworks could improve effectiveness and support evidence-based policy adjustments. 
  7. Nature-Based Solutions key to climate action: Nearly half of Parties (47%) now include forest protection measures, signaling growing recognition of nature’s role in climate action. The potential is significant – reducing deforestation alone offers 2.28 GtCO2e/year in mitigation potential. While integration of nature-based solutions is increasing, frameworks for wildfire prevention and ecosystem monitoring remain underdeveloped. Enhanced financing mechanisms and stronger coordination between national and local conservation efforts could unlock greater potential in this sector. 
  8. Agricultural Transformation in the horizon. Food security emerges as a critical priority, with 90% of Parties identifying it in adaptation planning, which is consistent with the COP28 Food Declaration. Countries are increasingly adopting sustainable agricultural practices, including crop diversification and improved soil management, often integrating traditional knowledge. However, specific emission targets and monitoring systems for agriculture remain limited. Opportunities exist to strengthen food waste reduction, improve irrigation systems, and develop more resilient food systems through better supply chain integration. 
  9. Ocean Action growing attention: Ocean-related commitments show encouraging growth, with 31% of Parties identifying marine ecosystems as adaptation priorities. Blue carbon initiatives are gaining traction, with 21% of Parties including ocean carbon priorities. While 13% have quantified fisheries targets, gaps persist in marine ecosystem monitoring and financing. Promising opportunities exist in mangrove restoration, marine protected areas expansion, and coastal protection enhancement. 
  10. Adaptation is now integrated into NDCs.  Adaptation has become central to climate action, with 81% of Parties including adaptation components. This reflects a maturing understanding of climate resilience, particularly in key sectors like food security, water resources, and ecosystem management. While 29% of Parties now link adaptation with mitigation co-benefits, implementation gaps remain in financing, monitoring, and cross-sectoral integration. Strengthening these linkages, alongside better alignment with development goals, presents a key opportunity for enhanced climate action. 

The synthesis reveals a maturing climate action landscape with growing emphasis on implementation, inclusion, and integration. While gaps remain, these trends provide a foundation for enhanced ambition and accelerated action in the next round of NDCs. 

Posted in Paris Agreement / Tagged , , | Authors: / Comments are closed

Closing emissions gap with 2025 NDC Revisions: Critical Opportunities for Climate Action

The UNEP Emissions Gap Report 2024 presents stark findings on the state of global climate action. Current pledges would only reduce emissions 4-10% below 2019 levels by 2030 – far short of the 42% reduction needed to limit warming to 1.5°C. These gaps are corroborated by the Nationally determined contributions under the Paris Agreement Synthesis report by the UNFCCC secretariat, which noted thatbolder new climate plans are vital to drive stronger investment, economic growth and opportunity, more jobs, less pollution, better health and lower costs, more secure and affordable clean energy, among many others benefits.

While these gaps are alarming, we have the solutions to address them. In fact, the report reveals a crucial window of opportunity as countries prepare their next Nationally Determined Contributions (NDCs) for submission in 2025. Through immediate, decisive action on NDCs, we can bridge the gap and put ourselves back on track to 1.5. 

Reflecting on the report recommendations, these are three strategic areas to help bridge the gap in countries’ updated NDCs:  

  • First, comprehensive investment planning must become central to NDC development. Countries should include detailed project pipelines that identify specific, bankable projects aligned with sectoral transformation pathways. These plans should outline clear implementation timelines, risk mitigation strategies, and resource requirements. Critically, they must demonstrate how public finance can leverage private investment at the necessary scale.  
  • Second, NDCs must strengthen coverage and transparency across all sectors and gases. Particular attention should focus on methane emissions, where rapid reductions could have immediate climate benefits. Many countries have encouragingly incorporated methane into their NDCs – the 2024 NDC synthesis reports suggests that 91% of parties cover methane within their mitigation targets. However, only 5% of parties have specific quantified methane targets, demonstrating a significant area for improvement. 
  • Third, countries must reimagine climate finance through a just transition lens. This means moving beyond simple volume targets to emphasize finance quality: its accessibility, predictability, and alignment with development priorities. For developing economies, which require an eight to sixteenfold increase in climate investment by 2030, NDCs should clearly distinguish between unconditional actions and those requiring international support. They should also outline specific measures to ensure transitions benefit vulnerable communities and workers. 

Elements for NDC enhancement in 2025

The upcoming NDC revision cycle is a rare opportunity to fundamentally reshape climate ambition and action. By focusing on these three areas – comprehensive investment planning, enhanced sectoral coverage and transparency, and quality climate finance for just transitions – countries can develop NDCs that not only raise ambition but also chart practical pathways for implementation. 

The solutions and financing approaches exist to close the emissions gap. What’s needed now is the political will to deploy them at unprecedented speed and scale through this critical NDC revision process. 

 

Posted in Climate Finance, Greenhouse Gas Emissions, Paris Agreement, United Nations / Tagged , , , , | Authors: / Comments are closed

New modeling shows the power and potential of cap-and-invest in Washington state

Photo via Vlada Karpovich (Pexels)

Washington state’s cap-and-invest program, created in the 2021 Climate Commitment Act (CCA), is nearing the end of its second year and has already raised over $2 billion for communities by putting a price on pollution.

The program is a win-win for climate action and for communities: It creates a powerful economic incentive for companies across the state to lower their emissions, while generating investments for Washington communities in the process. There are already many projects underway across all 39 counties in the state, putting that auction revenue to use. Some of the benefits that people in Washington are seeing include:

  • More access to cleaner public transit including free ferry, bus, and other transit rides for youth.
  • Cleaner air for children in and around schools with upgrades to zero-emissions school buses and new, efficient HVAC systems.
  • Lower energy bills for low-income households and small businesses who receive support for replacing old gas furnaces with modern and efficient electric alternatives.

But the scale of this program enables it to deliver much more for Washington’s communities and economy in the long run. Just how much more? Thanks to new, in-depth modeling from Greenline Insights, supported by EDF, we now have a clearer picture of the transformative impact this program could have.

Read More »

Posted in Carbon Markets, Cities and states, Greenhouse Gas Emissions, News, Policy / Authors: , / Comments are closed

To meet our climate goals, we need climate plans backed by science and economics

As countries make their way to Baku, Azerbaijan to attend COP29, the annual United National climate conference, we have a clear challenge. Currently, the climate commitments made by countries are not ambitious enough to achieve the goals set out in the Paris Agreement to avoid the worst impacts of climate change.

COP29 is our moment to meet this challenge head-on, where countries can align on what needs to happen to meet our global climate goals.

Next year, countries will update their national climate plans under the Paris Agreement for 2025-2030—and the urgency to accelerate climate action has never been clearer.  These climate plans are called Nationally Determined Contributions (NDCs), and they need to be ambitious enough to meet the pace and scale demanded by science. 

Building on global lessons and efforts towards global solutions 

Responding to this global call, the NDC Partnership and the Green Climate Fund (GCF) launched a joint Climate Investment Planning and Mobilization Framework. The Framework aims to create a common language for diverse stakeholders to communicate priorities, needs, and challenges in mobilizing climate finance. 

This framework underscores the fundamental importance of strong evidence-based decision-making in revising and enhancing NDCs. Commitments need to be ambitious—but  also realistic, achievable, and aligned with the latest scientific understanding of climate change and its impacts.  

At Environmental Defense Fund (EDF), we believe in working and building on the efforts of partners. For decades we have worked to bridge science, economics and policy to drive forward practical solutions to some of our thorniest challenges, from cutting methane pollution to halting deforestation, which puts us on. We’re working to build on this record of advancing science and economics-backed NDCs by contributing new research, innovative tools, and solutions that are grounded in evidence, which uniquely positions us to Use evidence-based decisions for NDC 3.0 Revisions.  

How to Use Evidence-based Decision-Making for Impactful NDC Revisions  Read More »

Posted in Climate Finance / Authors: / Comments are closed