Tag: G20

G20 Issue Brief: Long-term Strategies

The Paris Agreement calls for countries to formulate long-term low-GHG emission development strategies, in line with pursuing efforts to limiting global temperature increase to 1.5ºC. With the 2016 adoption of Agenda 2030, countries are also beginning to implement policies to fulfil the sustainable development goals (SDGs).

Long-term strategies create a framework within which the implications of short-to-medium-term decisions that impact both greenhouse gas emission trajectories and development pathways can be coherently planned and adjusted where necessary. Developing and implementing these strategies ensures alignment with the long-term goals of the Paris Agreement, in a way that fosters increased prosperity for citizens, reduces the risk of locking-in unsustainable and high-emission infrastructure, and will help to avoid stranded high-carbon assets.

Careful long-term planning also provides an opportunity to maximize socio-economic benefits, such as cleaner air and water, improved security for jobs and energy access, and better health. If well done, these strategies can identify such opportunities, as well as challenges, open a space for democratic consultation on these implications, and secure a just transition for workers and communities which depend today on a fossil-based economy. 

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G20 Issue Brief: Sustainable Infrastructure

The additional up-front investment required for a sustainable infrastructure pathway by 2030 is estimated at less than 5% above baseline levels, and is very likely to be more than “offset” by the resulting energy and fuel savings from modern clean energy and energy efficiency, with large additional benefits resulting from avoided climate impacts and air pollution related health costs, as well as reduced risk of stranded assets. Present externalities of and subsidies to burning fossil fuels amount to a staggering 6.5% of global GDP.

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G20 Issue Brief: Phasing Out Fossil Fuel Subsidies

It is estimated that fossil fuel subsidies contributed up to 36% of global emissions between 1980 and 2010, while also exacerbating health problems, air and water local pollution. Limiting their use is a key step towards reducing inequality and achieving inclusive growth, since fossil fuel subsidies disproportionately benefit the middle and upper classes. Fossil fuel subsidies constitute an inefficient use of scarce public funds, and inhibit the market penetration of price-competitive renewables. While subsidies more broadly can be used as an effective tool to support the poor and promote a particular industry for the benefit of larger good, an industry that is well-established should not be the beneficiary of limited public resources, especially when cost-effective and healthier alternatives are available.

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G20 Issue Brief: Ratification of the Montreal Protocol Amendment on HFCs

In the Kigali Amendment to the Montreal Protocol adopted in 2016, parties agreed to phase-down hydrofluorocarbons, the fastest growing climate pollutants. Once implemented, this phase-down could prevent emissions of 80 GtCO2e by 2050, reducing global warming by up to 0.5ºC by the end of the century compared to business as usual.

In addition, the HFC phasedown under the Montreal Protocol will, as has always been the case in the past, provide the opportunity to improve energy efficiency in air conditioning and refrigeration systems, potentially in the range of 30 to 60%. In the room air conditioning sector alone, improving energy efficiency of equipment by 30% while simultaneously transitioning to low-GWP alternatives could save an amount of electricity equivalent to up to 2,500 medium-sized power plants globally by 2050, while providing climate mitigation of nearly 100 Gt CO2-eq by 2050 from this sector.

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G20 Issue Brief: Sustainable Finance

 

 

Delivering the Sustainable Development Goals (SDGs) by 2030 requires some $90trn of investments over the next 15 years. The issue is not availability of capital: our global financial system today is nearly $300trn strong and growing. Rather, the challenge is aligning financial regulation with sustainability objectives to shift financial flows and unleash green finance. Success would result in more than just meeting SDGs. It would create a more resilient, sustainable and inclusive global economy, while at the same time adding approximately $12trn a year to global GDP – and possibly more. In their current form, however, financial markets do not price in the externalities of investments at a level strong enough to shift investments decisions; nor do they provide enough public information to market players regarding their exposure to sustainability-related risks and opportunities. More work is also needed to scale up green finance.

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Open Letter to G20 Govenments

In 2015, the world took a historic step in the fight to tackle climate change. In adopting the Paris Agreement, governments jointly committed to pursuing efforts to limit the global temperature increase to 1.5ºC above preindustrial levels, in recognition of the disastrous impacts that will affect diverse communities around the globe above these limits. The need to now take action is urgent - we are already seeing increased extreme weather events as a result of climate change.

G20 countries represent approximately 85% of global GDP and two-thirds of the global population. G20 leadership on climate change is crucial, and global economic governance must be compatible with the requirements of the Paris Agreement to safeguard development against climate risks and to provide a safe future for all citizens of the world.

In July 2016, CAN developed a briefing of eight key climate demands for the G20.[1] Importantly, we call on the G20 countries to ensure that important agreements take place this year, such as at the International Civil Aviation Organization and in the Montreal Protocol, which will result in ambitious outcomes that are compatible with the Paris Agreement. At the 2016 G20 Summit, we urge all member countries to prioritize two key issues: ratification of the Paris Agreement, for expedited entry into force; and development of long-term strategies for sustainable development and decarbonization.

We look forward to an ambitious outcome from the 2016 G20 Summit, in which climate change is recognized not simply as an environmental problem, but as the threat to the global economy, security and sustainable development that it truly is.

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CAN Briefing: G20 Key Demands, July 2016

In December 2015, the G20, as part of the 196 Parties to the UNFCCC, committed to a historic global agreement to address climate change and pursue efforts to limit the global temperature increase to 1.5°C above preindustrial levels, so as to mitigate the harmful effects on the world’s people, biodiversity and the global environment.

According to the IPCC, the global carbon budget consistent with a 66% chance of limiting the temperature rise to 1.5ºC will be used up by 2021 if we carry on under current projections. For any fair likelihood of meeting the Paris temperature targets, our collective mitigation efforts need to be multiplied as soon as possible. Otherwise, our countries and economies will face severe impacts of unstoppable climate change, including social, environmental and economic instability. In recent years, we have seen the G20 countries take more serious notice of the role that climate change plays on its overall objectives, in particular its objective to promote financial stability. G20 leadership on climate change is extremely important since the greenhouse gas emissions of the G20 member countries account for approximately 81% of total global emissions. It is therefore imperative that the G20 countries start collaborating immediately on the implementation of the Paris Agreement, using their influence, to develop a consensus-building approach and focus on financial stability to drive stronger action on climate change.

Climate Action Network has eight key demands for the G20:

  • Ratify the Paris Agreement as soon as possible; 
  • Develop and communicate interim National Long-term Strategies for Sustainable Development and Decarbonization by 2018; 
  • Achieve an ambitious outcome on HFC phase-down this year;
  • Introduce mandatory climate-risk disclosure for investments; 
  • Remove fossil-fuel subsidies;
  • Accelerate renewable energy initiatives towards 100% RE; 
  • Ensure that new infrastructure is pro-poor and climate compatible;
  • Support effective ambition for international aviation and shipping.
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CAN Briefing Paper: G20 Recommendations, November 2015

Held only two weeks before the UNFCCC COP21, the G20 Summit presents a unique opportunity to strengthen international confidence and momentum towards an ambitious climate agreement in Paris and to show commitment to low-emission and climate-resilient development by the biggest economies in the world.

Climate Action Network identified three key issues G20 countries need to assume a leadership role to send strong signals to Paris:

- Climate Finance
- Adaptation and Loss & Damage
- Emission reduction and economic transformation

Dear Mr. Prime Minister...

In a disappointing and disheartening plenary session today, the Brazilian chair adopted the watered down draft text to be taken to world leaders tomorrow to formally adopt. As delegations clapped away at our failed future, civil society loudly protested from the back of the plenary hall. 

As a last attempt to salvage this summit, civil society has united its efforts to write a letter to UK Prime Minister David Cameron at the G20 Summit calling for an urgent intervention to deliver ambition at the Rio+20 Earth Summit. The letter highlights that the draft text is severely lacking in ambition, urgency and political will. Countries are reluctant to commit to a bolder agenda largely because they do not believe that the money can be found to deliver the transition to a fair, prosperous and sustainable world for all.

Civil society is calling on the UK, as a member of G8, G20, UN Security Council and the European Union, to take matters into their own hands and be pioneers in this endeavor to save the planet and forge an international agreement on tackling global inequalities. To do this, three commitments are needed to transform this summit.

  1. Phase out harmful fossil fuel subsidies, with safeguards for the world poorest communities.  Commitments to begin such a process were made by the G20 at their meeting in Pittsburgh in 2009 and again in Toronto in 2010, but with almost no progress to date. Developed countries spend around $100bn a year in subsidies and tax breaks to prop up fossil fuel production, according to the OECD.
  1. Introduce a Financial Transaction Tax (FTT) which has been proven by the International Monetary Fund (IMF), the European Commission and independent studies to be a credible, effective and development friendly tax. It is a hugely popular idea, supported by 63% of European citizens and more than 1000 economists, and could raise at least $400bn a year.
  1. Stop multinationals dodging their taxes. This would generate an extra $160 billion a year in tax revenues in poor countries alone. This is money that these companies already owe but which they are not paying.

The biggest impediment to means of implementation and finance is that the money isn’t there, but as shown above, the money is clearly there and can be easily freed up and utilized. Strong political will and even stronger leadership is needed now to push these negotiations to deliver a safe and prosperous world for everyone.

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