Climate Change in Africa
A race against time
We live in a complicated interconnected world, on a continent experiencing considerable economic, social and environmental challenges. Among the most significant of the environmental challenges is climate change. In Africa, climate change threatens to derail the significant development gains that have been made over the last decades; climate change also threatens future growth and development. Read more
In light of the urgency to limit the increase in global average temperature below 2 degrees Celsius, members of the international community are negotiating a new and binding climate change agreement. While the exact form and scope of the new agreement is still open to negotiation, developed and developing countries were invited to prepare their Intended Nationally Determined Contributions (INDCs) for the post-2020 period.
Under a post 2020 climate regime, all countries will have the opportunity (obligation?) to develop and implement effective policies and measures to help meet their climate change commitments. Carbon markets have had a chequered history but their time could be approaching. Here are seven steps to create a carbon market which can be implemented approximately sequentially over a timescale of 5 to 15 years:
The US$100 billion additional finance unveiled in the run-up to CoP21 is an important sign of commitment from developed countries. In fact, many developing countries see it as the single most important issue for the Paris COP. However, while it's a significant sum, there is a danger that if we focus too much on it, we'll miss the real event.
You may be forgiven for thinking that Intended Nationally Determined Contributions or INDCs are just another UNFCCC requirement to add to a long list of reports and official submissions on the UNFCCC website which consume resources in hard-pressed finance, planning and environment ministries.