Climate negotiations on the road to a strong Paris agreement rulebook

Opening session of the forty-eighth session of the Subsidiary Body for Implementation (SBI 48) and the forty-eighth session of the Subsidiary Body for Scientific and Technological Advice (SBSTA), Ms. Patricia Espinosa, Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC)
© UNclimatechange, 2018 / Source: Flickr – UNFCCC

The UN climate change negotiations are concluding tomorrow in Bonn after ten days in the German city aiming at developing the final text for the Paris agreement rulebook.

However, this is not going to happen before COP24 scheduled in December 2018, according to the Executive Secretary of the UN Framework Convention on Climate Change Patricia Espinosa. This climate chief mentioned that there has been steady progress in the meeting but the target of agreeing a rulebook will remain till the end of the year when all parties will convene in Poland next December for the COP24.

Raising climate ambitions

Before the beginning of the summit it was optimistic but plausible to draft a negotiating text that could keep climate talks on track ahead of the next gathering in Bangkok, Thailand next September. The Bonn meeting started with Patricia Espinosa addressing the importance of tackling climate change by increasing green ambitions. At the same time, an analysis was recently published by the London School of Economics proving that all 197 UN parties have at least one national law or policy on climate change.

Particularly, “the Global trends in climate change legislation and litigation: 2018 snapshot” report shows that: “There are now more than 1,500 national climate change laws and policies worldwide, with 106 introduced since the Paris agreement was signed in December 2015. Of the 106 new laws and policies passed since the Paris agreement was reached, 28 explicitly reference the agreement.”

The UN official stressed three priorities which need to be set. First of all, governments together with non-governmental organizations and the business sector should speed up the climate contribution by 2020. Secondly, the manual rulebook should be finalized in order to reinforce the battle against climate change. Thirdly, the climate policy framework has to change in order to provide governments with the conditions to slow down global warming.

The fact though that little progress was made last November in COP23 increased the expectations for the acceleration of the negotiations and actions on the preparation of the guidelines in Bonn. But the chances disappeared with Espinosa’s statement. More precisely, the UN secretary said: “A single negotiating text. No. That would really not be possible. It will all come together when it comes to the level of the Cop, of the conference in December.” In addition, Patricia Espinosa highlighted that improvement was stable and all negotiating groups expressed their commitment to the plan and the goal of a rulebook by the end of 2018.

EU’s greener budget

Further, the European Commission announced last week its proposal for the long-term budget for the 2021-2027 period showing its commitment to the fight against climate change. According to the EC, 25% out of the 1,279 trillion euros budget is going to be distributed through renewable energy and efficiency improvement funds and also aid to developing countries outside Europe .

It needs to be mentioned though that the percentage increased by 5 points compared to the current budget despite the fact that Britain is going to leave a huge gap in the 2021-2027 budget.  Furthermore, Britain has promised to keep its climate promises after leaving the bloc. More specifically, Michel Barnier, the EU’s chief Brexit negotiator, said last month that: “In the future relationship we should commit to no lowering of the standards of environmental protection. The agreement on the future relationship with the UK should include a non-regression clause. This can be inspired by the CETA (Canada-EU free trade agreement) or Japan FTA (free trade agreement) provisions, but this will need to go further. It should prevent any reduction of the key pre-Brexit standards.”

Investors vs. climate change

On the other hand, the business sector is backing the climate change agreement. Climate Action 100+, an initiative led by 279 investors, is engaging with the world’s largest corporate greenhouse gas emitters in order to improve governance on climate change.

Stephanie Maier, a director of responsible investment at HSBC Global Asset Management and representative of Climate Action 100+, mentioned on the issue: “Companies with business models that are robust within the Paris framework are going to find it easier to access capital than those who aren’t”. What is more, Nick Stansbury, a fund manager and energy specialist at Legal & General’s investment unit, outlined that investors will treat corporations positively if they support green energy.

All in all, the road to build a document which is written in a legal language is very difficult and negotiations are not evolving fast enough as time presses. Notwithstanding, a robust guideline text is imperative to be in place by the end of the year.

Advertising

the sting Milestone

Featured Stings

Can we feed everyone without unleashing disaster? Read on

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

How climate change exacerbates the refugee crisis – and what can be done about it

The three sins the EU committed in 2015

FROM THE FIELD: Argentina Preserving Pristine Forests

Antitrust: Commission opens investigation into Broadcom and sends Statement of Objections seeking to impose interim measures in TV and modem chipsets markets

These scientists are using sound waves to filter plastic fibres from washing machine wastewater

eGovernmnet for more efficiency, equality and democracy

Global aid needed for healthcare

JADE at European Business Summit 2015

Women’s rights: MEPs call for action to fight backlash against gender equality

Claude Akpokavie, Senior ILO Adviser:“Engaging in policy debates and organizing workers, are two key challenges faced by unions in Export processing zones”

India: step up reform efforts to increase quality jobs and incomes

Indonesia’s imams are joining the fight against plastic bags

More refugees being helped by family, work and study permits, finds OECD and UNHCR study

IQ scores have been falling for decades, new study finds

More urgency needed to help increasing numbers ‘locked out’, before 2030, says UN’s Bachelet

India is building a high-tech sustainable city from scratch

Brexit: MEPs concerned over reported UK registration plans for EU27 citizens

Thai cave boys spared thundershowers, highlighting extreme climate disruption: UN weather agency

Scientists just got closer to making nuclear fusion work

How Hawaii plans to be the first US state to run entirely on clean energy

Disease slashing global meat output, cereals boom, bananas under watch: FAO

Managers’ pay under fire

International Day of Cooperatives sets stage for long-standing production and consumption

Will the outcome of the UK referendum “calm” the financial markets?

Greece’s last Eurogroup or the beginning of a new solid European Union?

In tech-driven 21st century, achieving global development goals requires closing digital gender divide

COP21 Business update: Companies urge now for carbon pricing as coal is still a big issue

Atomic agency cites concerns over Iran testing sites, offers COVID-19 assistance

Europe, US and Russia haggle over Ukraine’s convulsing body; Russians and Americans press on for an all out civil war

More women and girls needed in the sciences to solve world’s biggest challenges

EC v Samsung: A whole year to compile a case

We won’t win the online security war without people power

These 5 countries plan to slash their CO2 emissions. But how will they do it?

UN recorded 64 new allegations of sexual exploitation or abuse in the past three months

Can the banking union help Eurozone counter its imminent threats?

IMF: When high yield goes boom

Heard about deepfakes? Don’t panic. Prepare

Here’s how business needs to change for a new decade

This is how Europe is helping companies and workers as the coronavirus crisis deepens

Young health workforce – a core of effective primary healthcare?

How to change the world at Davos

The influence of the multilateral agreement on migrant health

Be a part of the World Forum on Future Trends in Defence and Security

Syria: Thousands of children ‘hemmed in’ by ‘brutal and gratuitous’ spike in violence

IMF: The near-term outlook for the U.S. economy is one of strong growth and job creation

UN commission agrees roadmap on ensuring women’s social protection, mobility, safety, and access to economic opportunities

UN recognises role of sport in achieving sustainable development

We need to protect 30% of the planet by 2030. This is how we can do it

How banking with blockchain can stamp out corruption and increase financial inclusion

French Prime Minister passes Stability Program and takes his ‘café’ in Brussels this June

When is necessary understand the cultural marks in health-disease process

Yellen and Draghi tell Trump and markets not to expedite the next crisis

UN chief sends condolences to families of Malawi flood victims

Modern society has reached its limits. Society 5.0 will liberate us

‘You can and should do more’ to include people with disabilities, wheelchair-bound Syrian advocate tells Security Council in searing speech

ISIL’s ‘legacy of terror’ in Iraq: UN verifies over 200 mass graves

EU-UK future relations: “level playing field” crucial to ensure fair competition

Time to pay up: UN summit to push for development finance breakthrough

Why salaries could finally be on the way up

This is what the world’s CEOs think about the global outlook

More Stings?

Trackbacks

  1. […] Climate negotiations not enough yet for a strong Paris agreement rulebook  The European Sting […]

  2. […] Climate negotiations not enough yet for a strong Paris agreement rulebook  The European Sting […]

  3. […] Climate negotiations not enough yet for a strong Paris agreement rulebook  The European Sting […]

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s