Wouldn’t you agree that sometimes the most satisfying results come from a slow but steady journey with unwavering commitment to what is right? ECO has seen negotiators make steady, – if slow – progress this session in clarifying their views and finding options to move us closer towards success at COP24.
ECO 10, SB48, English
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Yesterday, the Talanoa Dialogue received two submissions, The Lofoten Declaration and the Not a Penny More Declaration, representing close to 500 organizations from around the globe and 140 prominent economists respectively. They are offering a groundbreaking solution to increasing climate ambition: tackle fossil fuel demand, supply and financing at the same time! What a novel idea!
ECO had hoped finance negotiations would progress substantively in Bonn so that in the run-up to COP24 Parties could engage in a serious discussion on scaling up finance to ensure the implementation of the Paris Agreement. But here we are on the last day of this session and progress on finance has been dramatically slow.
Until this week, ECO thought there were a few things we could all agree on (and have in fact agreed on in previous decisions): Parties should pursue efforts to limit global warming to 1.5°C. The UNFCCC process is based on best available science and has always benefited from scientific input. That is why the IPCC has been invited to prepare a Special Report on Global Warming of 1.5°C.
After a very slow process last year, ECO is happy to see that the pace of the negotiations for NDC guidelines has picked up over the last two weeks. If negotiators can keep up the good spirit that we experienced here in Bonn, the guidelines might be ready for take-off.