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In order for development finance institutions, including multilateral development banks and bilateral, regional and national development banks to “align” themselves with the Paris Agreement, they must make sure that their activities conducted through financial intermediaries are also aligned. It is important for intermediated finance to align with overall temperature and resiliency objectives both in terms of direct but also indirect impact. In addition, development finance institutions should conduct due diligence to ensure that intermediaries meet transparency and governance requirements on...

This report is the third and the latest edition of the series since 2018 that take stock of climate action by cities, regions and businesses and their global aggregate impact on greenhouse gas emissions. The 2021 edition focuses on the progress of non-state and subnational actors toward their emissions reduction targets. Main findings: In this report, we focus on subnational and non-state action in ten major emitting economies: Brazil, Canada, China, the European Union (EU-27) plus the United Kingdom (UK), India, Indonesia, Japan, Mexico, South Africa, and the United States (US). We find that...

In 2017, the International Development Finance Club (IDFC) together with the group of Multilateral Development Banks (MDBs) made a joint commitment to “align financial flows with the Paris Agreement”. With this framework, NewClimate Institute and I4CE provide IDFC members with clear and practical guidance on how to align their operations with the requirements of the Paris Agreement. Main findings: In 2017, the International Development Finance Club (IDFC) together with the group of Multilateral Development Banks (MDBs) made a joint commitment to “align financial flows with the Paris Agreement”...

This study published in the "Environmental Science & Policy" journal assesses if nine key non-G20 countries meet 2030 GHG targets with existing policies. Main Findings: This study compares greenhouse gas (GHG) emissions projections in 2030 under current policies and those under 2030 mitigation targets for nine key non-G20 countries, that collectively account for about 5 % of global total emissions today. These include the four largest non-G20 fossil CO 2 emitting Parties to the UN climate convention pre-Paris Agreement (Iran, Kazakhstan, Thailand and Ukraine) and one of the largest land-use...

Rules for the implementation of Article 6 of the Paris Agreement are still under negotiation at the international level, with a key focus on reaching consensus at COP26 in Glasgow. This report aims to inform this policy making process. It explores three key unresolved issues that are closely interrelated and that have potential to impact the global net emission reductions achieved through Article 6 as well as the amount of revenues generated to help meet the adaptation needs of particularly vulnerable developing countries. Summary: The report explores the potential quantitative implications of...

The information provided within this study shall serve as a basis for tackling barriers in introducing "Green Public Procurement" as well as updating procurement criteria of room air conditioners in order to reduce cooling related energy consumption and GHG emissions of public buildings. Main findings: Green Cooling has a high potential to reduce costs, energy and the climate impact of public buildings. Surveys conducted in multiple countries in the framework of this study show that: Air conditioning in public buildings is often responsible for about 50% of total electricity consumption and...

The Paris Agreement established a Global Stocktake process as a key safeguard mechanism to facilitate enhancement of the NDCs toward meeting the collective goals of the Agreement. This paper examines the questions of what an effective Global Stocktake process would look like, and what information and data are needed to support it. Main findings: We identify four functions that an effective Global Stocktake should fulfil; acting as a pacemaker of policy processes, ensuring accountability of countries actions, driving enhanced ambition in subsequent NDC cycles, and providing guidance and signal...

In this briefing, the Climate Action Tracker (CAT) estimates global warming by 2100 to be at an all-time low of 2.4°C. Due to recent climate action announcements at President Biden’s Leaders Summit on Climate, together with those announced since September 2020, have improved the CAT’s global warming estimate by 0.2°C. This emissions gap needs to be closed with further NDC target updates this year and targets have yet to be supported by ambitious policies. Leaders’ Summit on Climate creates new momentum on climate action Climate action announcements at US President Biden’s Leaders Summit on...

This report discusses inputs for countries to set their mitigation targets under the Paris Agreement, so that those targets are in line with long-term temperature limit. It reconciles different approaches and suggests closing the disparity of the results from the equity and cost-effectiveness approaches through international support. Further, it analyses spill-over effect of domestic action and provides inputs to the discussion around the long-term mitigation goal of the European Union. Key Findings: The adoption of the Paris Agreement with the long-term goal of reducing temperature increase...

The triple COVID-19, economic, and climate crisis poses a growing challenge to debt sustainability and financing for climate action. There are growing calls to look for solutions for the three crisis together, notably through “debt-for-climate” swaps. Though not a general panacea, such proposals may represent an attractive option for both debtors and creditors. As an input into this ongoing discussion, this working paper proposes several potential broad criteria and proxy indicators as a starting point to identify countries where such debt swaps could be piloted, potentially with lessons...

This paper discusses the impact of the ongoing COVID-19 crisis on the energy sector and frames it in the broader perspective of the climate crisis and development aspirations. We present practical challenges and responses observed in several emerging economies and developing countries, and discuss how key patterns in those countries are relevant for the post-COVID energy transition. We conclude by offering three considerations on how governments can strengthen their NDC update and signal the highest possible climate ambition for the energy sector. Key Findings: The effects of the COVID-19...

Georgia is at an important crossroad with regards to the short-, medium- and long-term future of infrastructure and investment in the transport sector. Transport is a key sector for Georgia’s Climate Strategy and Action Plan (CSAP), which was prepared for parliamentary consideration in 2020 alongside Georgia’s updated Nationally Determined Contribution (NDC) to the Paris Agreement. These documents were partially informed by the analysis compiled in this report, which supported the transport sector to identify actions for reducing emissions. This report explores several emission pathway...

This scientific article in ‘Renewable and Sustainable Energy Reviews’ looks at climate change mitigation policies in five major emitting economies: China, the European Union, India, Japan and the United States. It analyses their performance in terms of energy system and greenhouse gas emissions indicators. The review centres on the sectors of electricity generation, passenger vehicles, freight transport, forestry, industry, buildings, agriculture, and oil and gas production. The article further presents an explorative emissions scenario developed under the assumption that all countries will...

In the coming years, Poland will gain access to unprecedented funds for thermal modernization of buildings. Limited monitoring of financial flows in the area of building renovation creates a risk of only partial and inefficient use of this opportunity. Main Findings: Thermal modernisation of buildings does not only play a key role in reducing greenhouse gas emissions but can also be an important stimulus measure for the recovery of European economies after the crisis caused by the COVID-19 pandemic. It is one of the key investment areas supported not only by the EU’s Multiannual Financial...

The EU cement sector has made progress to reduce emissions in the past three decades, yet there is a long way ahead for the carbon-intensive industry to decarbonise. In this study, potential decarbonisation pathways are developed and analysed based on different highly innovative technology routes. Based on the results, challenges and opportunities related to specific technologies are identified, informing policy recommendations for the near-, mid- and long term. Main findings: The characteristics of the traditional cement production process, with its major part of emissions originating from...