Québec does it with California. Mexico wants to do it with California too, while California wants to do it with a Brazilian state. European countries have been doing it with each other for years, and China's started doing it with itself. And while some find it icky, the future of our species depends on it happening. It, of course, is carbon trading.
CGD Policy Blogs
How much do rich countries’ policies help or hinder the world’s poorest people? That’s what CGD’s Commitment to Development Index (CDI) measures.
On November 30th, Germany, Norway, and the U.K. (“the GNU”) pledged to provide over $5 billion for Reducing Emissions from Deforestation and Forest Degradation (REDD+) between now and 2020, “including a significant increase in pay-for-performance finance”. This pledge is a welcome and much-needed continuation of the leadership of these three countries, and consistent with the recommendations of the recent CGD Working Group report, Look to the Forests
I arrived at Charles de Gaulle airport Monday morning jet lagged and optimistic. The lights on the RER train flashed the way to Le Bourget, the site of the climate summit. The summit won’t be enough on its own to deliver a safe climate, but the cumulative pledges countries have already made, if implemented, would be enough to stave off the worst climate calamities, and can lay the groundwork for stronger actions in coming years.
At next week’s global climate summit in Paris the mood is likely to be somber in the wake of the devastating terrorist attacks. Spirits won’t be raised by the fact that the national emissions reduction plans submitted so far are only half of what’s needed to keep global temperature increases within the agreed target of 2 degrees Celsius. Also discouraging are the large gaps that remain between how much climate finance developing countries need to cover the costs of mitigation and adaptation and the commitments put forward by developed countries.
Next week, nations gather in Paris for the 21st Conference of Parties (COP21) with the goal of establishing a global plan to address climate change. That includes coming to agreements about how to both reduce and adapt to climate change, how to finance those measures, and how to share accountability. That’s a pretty big goal, but my guest this week on the CGD podcast, CGD senior fellow Frances Seymour, is cautiously optimistic.
In two weeks the world will meet in Paris for a long-awaited summit on climate change known as COP 21. In the face of despicable attacks last week, the climate conference is to be an expression of hope and solidarity.
Under the rubric of “buttressing sustainability,” the Turkish presidency has placed development at the center of its G-20 agenda, with a special focus on climate change finance. As G-20 leaders assemble this weekend, with the UN climate summit in Paris just two weeks later, the conversation will undoubtedly focus on how rich countries can make good on their 2009 Copenhagen commitment to mobilize $100 billion for developing countries by 2020. How can G-20 leaders make the Paris summit a success? Here are three suggestions.
California is looking to tropical forests to help slow climate change. After years of delays, the California Air Resources Board (ARB) appears to finally be moving ahead with plans to finance tropical forest protection through “sectoral offsets” to its cap-and-trade program, in which California companies could meet part of their climate obligations by buying offset credits from states in developing countries that reduce emissions from deforestation.
A new CGD working group report says performance payments can play an important role in providing visible and meaningful incentives to reduce deforestation. That’s important because the benefit to the global climate from keeping trees standing is huge.