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December 13, 2007 — While we are approaching the end of the Bali climate discussions, we are beginning a critical period to take action on climate change. Countries should leave Bali with an essential road map for negotiating the next round of reductions of greenhouse gas emissions. Thus, the clock starts ticking on the 24 months leading to COP-15 in Copenhagen and the end of the current commitment period of the Kyoto Protocol in 2012. As officials and delegates return to their countries, now is the time to show real action at home.
The European Union has already proposed making a commitment to reduce emissions by 20 percent by 2020, and is willing to increase that to 30 percent if the United States and other developed countries such as Japan, Canada and Australia commit to similar efforts.
Developing countries are also closely watching the United States. China, India and other emerging economies have made it clear that they recognize the seriousness of climate change but will only sign up to legally binding commitments of any kind if the United States makes a significant first step.
As the world’s biggest economy and biggest emitter, and as a leader in technology innovation, the United States has a unique obligation to cut emissions at home. Many U.S. states and cities are already taking action. But more must be done. A comprehensive “cap and trade” bill is working its way through the U.S. Congress now. If passed, this bill would
- significantly reduce U.S. emissions,
- provide funds to help people and nature in the United States and developing countries adapt to a changing environment, and
- promote the role that forests play in combating climate change.
These next two years offer a critical opportunity for U.S. leadership in moving toward a post-2012 agreement
A Vision of Post-2012 Success
What does a successful post-2012 agreement look like? Four elements need to be included:
Substantive reductions commitments by all industrialized countries. The European Union has already made a commitment to 30 percent reductions by 2020, other industrialized countries also step up to reductions in the 25-40 percent range recommended by the Intergovernmental Panel on Climate Change to have a reasonable chance of avoiding dangerous climate change.
A long-term target with a view to the year 2050 is also useful, but it will not have any value without short-term targets that lead to immediate action and progress.
New commitments for developing countries. Although developed countries must take the lead to reduce their emissions, developing countries should also take measurable actions to constrain the growth in their emissions.
Meaningful action for developing countries could include energy efficiency, targets for specific economic sectors like electricity production, steel or cement, as well as halting deforestation emissions. Developing countries should also be able to participate in a global carbon market, which could raise significant amounts of funding for the poorest countries’ development needs.
Financial transfers for developing countries. In order for developing countries to modernize their energy infrastructures, industrialized countries must provide financial resources – far beyond the scale of what is available today.
The source of these funds for technology transfers, adaptation and other needs can be best generated by functioning carbon markets in developed countries. The European Union is taking the lead by auctioning some of the emission permits of its emission trading system and allocating part of the revenue for international sustainable development. The United States and others should take similar action.
Forest emission reductions. Emissions from deforestation represent 20 percent of the problem, and thus could offer 20 percent of the solution.
The next international climate change framework must include a global system of financial incentives that values the carbon stored in standing tropical forests. The system should contribute to sustainable development, secure peoples’ rights and livelihoods, and protect the ecosystems on which people depend.
A Call to Action
The Nature Conservancy believes that market-based approaches hold the greatest potential to ensure that emissions reductions are realized at the lowest cost. An emissions trading system built on significant Annex I reductions obligations and a clear regulatory environment can encourage businesses to pursue the lowest cost options to reduce greenhouse gas emissions. Such a system can also channel investment into clean energy technologies in developing countries and support sustainable development.
As we thank our gracious Indonesian hosts and say farewell to Bali, our attention shifts to national capitals. The Bali road map to Copenhagen has many stops along the way including Washington, Brussels and Tokyo as well as Beijing, New Delhi and Brasilia.
Now is the time for governments around the world to prepare for the next critical destination: Copenhagen and a global climate agreement to address the greatest environmental challenge that our society faces today.
Nature picture credits (top to bottom, left to right): Photo © Karen Foerstel/The Nature Conservancy (Forests in East Kalimantan, Indonesia); Photo © Mark Godfrey/The Nature Conservancy (Stephanie Meeks); Photo © Ahmand Fuadi/The Nature Conservancy (Stephanie Meeks and Indonesian president Susilo Bambang Yudhoyono).
