Tag: Finance

President Obama: We Hope for Change

In his victory speech after being re-elected to a second term, President Obama swelled the hopes once again of people around the world who care about climate change when he said, "We want our children to live in an America that is not burdened by debt, that is not weakened by inequality, that is not threatened by the destructive power of a warming planet." Those hopes continued to swell when in a press conference a few days later, he responded to a question from the media on climate by saying that he planned to start "a conversation across the country..." to see "how we can shape an agenda that garners bipartisan support and helps move this agenda forward...and...be an international leader" on climate change.  President Obama appears to understand that climate change is a legacy issue that was not adequately addressed during his first term in office.

The question therefore has to be, what next? In his second term, will President Obama deliver the bold action needed to reduce the threat of climate change to the US and the world, by shifting the US economy towards a zero carbon future, and making the issue a centerpiece of US foreign policy? In the aftermath of superstorm Sandy, and the drought, wildfires and other extreme weather events that have afflicted the US over the last year, it is clearly time for President Obama to press the reset button on climate policy, both nationally and internationally.
 
First, the world needs to hear from the President and his negotiating team here in Doha that they remain fully committed to keeping the increase in global temperature far below 2 degrees, that it is not only still possible but essential to do so, and that the USA is going to provide leadership in this collective effort.  
 
The administration should then make clear how it will meet its current 17 percent reduction target. While US emissions are decreasing slightly – both as a result of the administration's policies on renewable energy and vehicle fuel economy standards and because of sharply lower natural gas prices that have reduced coal use for electricity generation – it is unlikely that without additional regulation or legislation that the US will meet its 2020 target. The delegation should also clarify what the Obama Administration will do to put the US on track to the near-elimination of emissions by mid-century called for by the scientific community.  
 
Finally, delegations need to hear that the US remains committed to meeting its fair share of the Copenhagen pledge of mobilizing $100 billion in climate finance per year by 2020, as well as which innovative finance options the administration is prepared to support to get there.
 
These four steps would go a long way to reset US climate diplomacy. They would show that instead of dragging the world down to the level of what is (not) possible in the USA, President Obama and his team are going to pull the US up to what the science and the world demands to avoid catastrophic climate change.  
 
One last point: every coach knows that when you find your team down by several goals at half-time, a change in your game plan may not be enough; it may also be time to make some substitutions to the players on the field.
 
Region: 
Related Newsletter : 

Doha Milestones and Action

The planet is giving warning as to what dangerous climate change looks like – from historic droughts in East Africa, the United States and Mexico, to catastrophic floods in Brazil and China, and heat waves in Europe and elsewhere.  The spectre of worldwide food shortages is growing.  These warnings are being ignored by governments whose current lack of ambition has the world heading towards 3.5-6°C of warming and runaway climate catastrophe.

Agreements at Durban opened a window of opportunity for governments to put the world on a low emissions pathway, ready to leverage clean technologies for green development and create green jobs, investment and economic development, and to take important steps to build resilience to unavoidable impacts of climate change.  However this window of opportunity is precarious.  Fulfilling it will require governments to take decisive action at COP18/CMP8 in Doha.  Short term (pre-2020) ambition must be urgently increased and a clear pathway mapped to negotiate a fair, ambitious and binding deal in 2015.

Essential elements to be concluded at Doha include:

  • A Doha amendment for a second commitment period of the Kyoto Protocol applying immediately to a range of countries, including Australia and New Zealand; targets within the 25-40% range, with an adjustment procedure to increase ambition; removing false emission reductions by minimising carried over AAUs and improving CDM and JI rules;
  • Non Kyoto developed countries must demonstrate that they are genuine about their responsibilities by adopting stringent quantified emission reduction commitments, comparable in effort and transparency with Kyoto Parties.
    • Developing countries should register their mitigation actions and required support, and all developing countries should make pledges – including Qatar;
    • Agreement that global emissions will peak in 2015 which means that developed countries need to reduce their emissions much more quickly, and provide support for developing countries to take more mitigation action;
    • Developed country commitment to provide a 2013-2015 public finance package that (a) is at least double the amount of the Fast Start Finance period (2010-12) and ensures early and rapid progress towards the $100 billion goal, and (b) includes at least $10-15bn in new public finance for the Green Climate Fund over 2013-2015;
    • Commitment to take meaningful steps to develop innovative sources of public financing and agree on a process to reassess the adequacy of financial pledges with the first reassessment in 2013;
    • Funding modalities for National Adaptation Plans established in order to scale-up work immediately and a second phase of the work program for loss & damage established to elaborate on the principles, functions, and institutional structure of an International mechanism to address loss and damage associated with climate impacts (including for rehabilitation and compensation);
    • Operationalising the GCF, the Standing Committee, the NAMA registry, the Adaptation Committee, and the Technology Executive Committee and Climate Technology Centre and Network.  Including initial capitalisation of the GCF and the Technology Mechanism.

At Doha an ADP workplan to increase short term ambition must be agreed:

  • Informed by a technical paper assessing the gap in ambition and ways to close it and by the progress of the Review; increasing developed country economy wide targets to close the gap between existing ambition and that needed to keep warming below 1.5oC; ensuring that any new market mechanisms add to overall ambition with stringent rules;  facilitating developing countries to reduce their emissions by rapidly scaling-up public climate finance, focusing on economy-wide or sector-wide actions that would rapidly and significantly lower emission trajectories and supporting initiatives that reduce costs and eliminate barriers and perceived risk, so that low and zero carbon technologies and approaches can quickly become competitive;
  • To enable developing countries to increase their mitigation and adequately deal with adaptation public finance from 2013-15 must be at least double the amount of the Fast Start Finance, and there should be a process to reassess the adequacy of financial pledges in terms of overall scale required, thematic balance and geographical distribution starting in 2013.  A 2 year Doha Capacity Action Plan should be initiated.

Parties must learn from the disaster at Copenhagen by mapping out an ADP workplan at COP18 with clear timelines, milestones and deadlines for agreeing key issues on the pathway to negotiate a fair, ambitious and binding global agreement in 2015.  Key milestones are mapped on the following page.  The ADP workplan to 2015 must be:

  • Informed by the Review incorporating IPCC drafts, and by an equity work program beginning immediately;
  • Consistent with a 1.5ºC global carbon budget with high likelihood of success, including targets and actions within an equitable framework that provides the financial, technology and capacity building support to countries in need; 
  • Built on, developing and improving the rules already agreed under the Kyoto Protocol and the Convention, including transparency through common and accurate accounting and effective compliance processes, respecting the principles of equity;
  • Serious about ensuring sufficient support for dealing with the unavoidable impacts of climate change; and
  • Shepherded by a consistent Bureau responsible for producing a compilation text by COP19, complete negotiating text by COP20, and a draft fair, ambitious and legally binding protocol circulated by May 2015.

After the disaster of Copenhagen, leaders do not have another ‘trick up their sleeve’.  Countries must deliver a fair, ambitious and binding deal by 2015 at the latest, putting in place the first steps in the pre 2020 ambition workplan in 2012, to ensure that we prevent catastrophic climate change.  There is no atmospheric nor political space for a second failure.

<more>

 

Doha Milestones and Action: Summary. October 2012

 

The planet is giving warning as to what dangerous climate change looks like – from historic droughts in East Africa, the United States and Mexico, to catastrophic floods in Brazil and China, and heat waves in Europe and elsewhere.  The spectre of worldwide food shortages is growing.  These warnings are being ignored by governments whose current lack of ambition has the world heading towards 3.5-6°C of warming and runaway climate catastrophe.  
 
 
 
 

Doha Milestones and Action: Russian Summary. October 2012

 

Планета предостерегает относительно того, как выглядят опасные изменения климата - от исторически небывалой засухи в Восточной Африке, Соединенных Штатах и Мексике до катастрофических наводнений в Бразилии и Китае и аномальной жары в Европе и в других местах. Возрастает угроза нехватки продовольствия во всем мире. Правительства игнорируют эти предостережения, а отсутствие активных действий в настоящее время ведет мир к потеплению на 3.5-6 °C и неуправляемой климатической катастрофе.
 
 
Organization: 

Doha Milestones and Action: Spanish Summary. October 2012

 

El planeta está dando aviso de cuán peligroso se presenta el cambio climático, mostrando desde sequías históricas en África Oriental, Estados Unidos y México, a catastróficas inundaciones en Brasil y China, y olas de calor en Europa y otros lugares. Crece el fantasma de la escasez de alimentos en todo el mundo. Estas advertencias están siendo ignoradas por los gobiernos cuya actual falta de ambición está llevando al mundo en dirección a 3,5-6 °C de calentamiento y a una catástrofe climática fuera de todo control.

 

Organization: 

Doha Milestones and Action: French Summary. October 2012

 

La planète ne cesse de nous montrer à quoi peut ressembler un changement climatique dangereux – les sécheresses historiques dans la Corne de l’Afrique, aux Etats-Unis et au Mexique, les inondations catastrophiques au Brésil et en Chine, les canicules en Europe et ailleurs. La menace d’une crise alimentaire mondiale se precise de plus en plus. Mais nos gouvernements continuent d’ignorer ces signaux alarmants en se contentant de nous placer sur une trajectoire de réchauffement de 3,5°C à 6°C et d’une future catastrophe climatique.
Organization: 

Doha Milestones and Action: Chinese Summary. October 2012

 

地球正在警告我们危险的气候变化会是什么样子——从 东非、美国和墨西哥史无前例的干旱,到巴西和中国的 灾难性的洪水,以及欧洲和其它地方的热浪。世界性的 粮食危机的阴影正在浮现。而那些缺乏减排雄心并引导 这个世界走向升温3.5到6度和失控的气候灾难的国家,还在漠视这些警示。

 

Organization: 

DOHA CLIMATE TALKS: A BETTER WAY FORWARD

In late November 2012, world governments will meet in Doha, Qatar, for the UN Climate Change Conference, to firm up the outcomes of the Durban conference held in 2011. 

Christian Aid believes Doha gives governments a vital opportunity to advance global cooperation in confronting the challenge of climate change. It believes it is possible to achieve an ambitious outcome from the conference that will deliver on all the elements of the package agreed in Durban. 

<Read More> 

Topics: 
Related Member Organization: 

Pages

Subscribe to Tag: Finance