IPIECA releases Low-emissions pathways, a workshop summary report. The report is based on a workshop organized by IPIECA on March 2016 in Houston, brought together experts from academia, business, governments, and international and non-governmental organizations to consider the implications and next steps from the Paris Agreement, together with other developments associated with the long-term policy and technology response to climate change.
The 2015 Paris Agreement for the first time commits all Parties to take action on climate change, known as Nationally Determined Contributions (NDCs), and report on progress. Significant progress in technology, economics, and policy responses would be required to put the world on a low carbon energy and emissions pathway towards the stated aim of “well below 2°C”.
The main messages heard during the workshop were:
- NDCs are a key component of the Paris Agreement, though there are significant challenges to understanding their cumulative effects.
- Projections of current NDCs appear inadequate to achieve the stated aim of well below 2°C, and governments are expected to increase their ambition in the future.
- Carbon markets (and broader changes to financial investment flows) may enable the global reallocation of investments and capital, facilitating the transition to a lower-emissions economy.
- Non-state actors may begin to play a more active role in addressing the risks of climate change, facilitated by the Paris Agreement, as evidenced by the launch of a range of voluntary initiatives and partnerships during COP-21.
- Action to address climate change must also continue to support economic growth, energy access for all, and the other UN Sustainable Development Goals.
- Key components in transitioning to a lower-emissions energy system include: energy efficiency; expanding the use of natural gas, including coal substitution; deployment of renewable and nuclear energy; fuel switching for transport; and significant deployment of CO2 capture and sequestration.
- Low-emissions pathways have different implications for coal than they do for oil or gas.
- 13 December 2016