5 September 2016, Climate Home, G20 reaffirms climate commitments – but dodges deadlines. Leaders back rapid implementation of the Paris agreement and ramping up of green finance, but fail to set timeline for phase out of fossil fuel subsidies. Leaders of the world’s biggest economies reaffirmed their commitment to tackling climate change as the G20 summit came to a close in Hangzhou on Monday night. What they did not agree on were hoped-for deadlines to ratify the Paris climate agreement and phase out fossil fuel subsidies. The G20 communique, released in French before it was released in English, committed the nations to ratifying the Paris climate agreement. Leaders “expect a rapid implementation of the agreement in all its dimensions,” it said. However, it stopped short of calling on the entire G20 to join the agreement by the end of 2016. Arvind Panagariya, India’s chief negotiator at the G20 summit,told The Indian Express that he had argued against the inclusion of such a timeline. “I felt we were not quite ready yet in terms of the domestic actions that are required for us to ratify or at least commit to ratify within 2016. So we plan to do it as soon as possible,” said Panagariya. Read more here
Tag Archives: Emissions
5 September 2016, The Conversation, US-China ratification of Paris Agreement ramps up the pressure on Australia. When President Barack Obama and President Xi Jinping announced their countries’ ratification of the Paris climate agreement ahead of last weekend’s G20 meeting in Hangzhou, they boosted its chances of coming into force by the end of this year, some 12 months after the deal was brokered last December. To enter into force, the Paris Agreement requires ratification by at least 55 nations which together account for at least 55% of global greenhouse emissions. It will then become legally binding on those parties that have both signed and ratified it. These thresholds ensure that the deal has broad legitimacy among states, but are also low enough to limit the opportunities for blocking by states that may oppose its progress. Aside from China and the United States – the world’s two largest emitters, which together produce 39% of the world’s emissions – another 24 countries have ratified the agreement. To get over the threshold, it now only needs the support of a handful of major emitters like the European Union (a bloc of 27 countries producing some 10% of global emissions), India, Russia or Brazil. Ratification by countries such as Australia, South Africa and the United Kingdom (each of which contributes about 1.5% of emissions) would also contribute significantly to this momentum. Read more here
5 September 2016: THE CLIMATE CHANGE AUTHORITY’S SPECIAL REVIEW ON AUSTRALIA’S CLIMATE GOALS AND POLICIES: TOWARDS A CLIMATE POLICY TOOLKIT MINORITY REPORT Professor Clive Hamilton AM Professor David Karoly 1. Introduction 1. As Members of the Climate Change Authority who have participated fully in the processes of the Special Review, we have reached the conclusion that the majority report does not respond adequately to the Review’s terms of reference and has not followed the principles set out on the Climate Change Authority Act (Section 12). We also disagree with several, but not all, of the major recommendations and conclusions of the majority report. We find the analysis used to defend some of the report’s recommendations inadequate. Overall, we view the majority report as a recipe for further delay in responding to the urgent need to reduce Australia’s greenhouse gas emissions. 2. We regret that a consensus report has not been possible but feel that in good conscience we cannot lend our names to the majority report. After consideration, we have therefore decided to write a minority report. Access full minority report here Access Climate change Authority’s Special Review here
29 August 2016, Reuters, Insurers call on G20 to phase out fossil fuel subsidies by 2020. Insurers with $1.2 trillion under management called on Tuesday for the Group of 20 to set a timetable to phase out subsidies for fossil fuels by 2020 when they meet at a summit in China this weekend. Aviva, Aegon NV and MS Amlin said fossil fuel subsidies were at odds with commitments by G20 nations to combat global warming agreed by almost 200 countries last year at a Paris summit. “Climate change in particular represents the mother of all risks,” Aviva CEO Mark Wilson said in a statement. The companies called on the G20 leaders, who meet in the Chinese city of Hangzhou on Sept. 4-5, to set “a clear timeline for the full and equitable phase-out by all G20 members of all fossil fuel subsidies by 2020”. A phase-out should start with the elimination of all subsidies for fossil fuel exploration and coal production, they said. Their statement was also signed by the Institute and Faculty of Actuaries and UK-based energy firm Open Energi. G20 leaders have repeatedly promised to phase out fossil fuels, the main man-made source of greenhouse gases blamed for climate change, since a meeting in 2009 in Pittsburgh. The British-based Overseas Development Institute think-tank estimated that average annual subsidies for fossil fuel production were $444 billion in 2013 and 2014, roughly four times the subsidies for renewable energy in 2013. Last week, investors managing more than $13 trillion of assets urged the G20 to ratify the Paris climate deal by the end of 2016 to help avert droughts, floods, mudslides and rising sea levels. No G20 nations have yet completed the ratification process, according to a U.N. tracker. China and the United States, the top two emitters, are widely expected to join up around the time of the G20 summit. Read more here