Here is what to expect at Bonn on climate mitigation

  • June 6, 2023
  • Posted by: OptimizeIAS Team
  • Category: DPN Topics
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Here is what to expect at Bonn on climate mitigation

Subject: Environment

Section: International Convention

Mitigation at COP27:

  • Mitigation — the act of reducing greenhouse gas emissions so as to prevent further global warming — is a crucial pillar of climate action, covering entire economic sectors from power, industry, and transport, to even forests and land.
  • The COP27 outcome document instead reiterated previous calls “towards the phasedown of unabated coal power and phase-out of inefficient fossil fuel subsidies” and also called for a just transition to renewable energy.
  • Just Energy Transition:
    • The issue of a “just energy transition” gained traction at COP27 as well, since Indonesia announced at the parallel G20 summit, that it would be a recipient of about $20 billion in starter funding through a Just Energy Partnership (JET-P) deal to reduce its coal dependence.
  • Unequal distribution of finances:
    • Most of the increase in clean energy investment between 2019 and 2023 taking place in China, the US and the EU.
    • Poor and vulnerable countries are not seeing a clean energy boom in line with their needs.
    • About 97 per cent of South Africa’s $8.5 billion JET-P package comprised of loans.

Efforts from private sector:

  • The First Movers Coalition — a voluntary alliance of companies “using their purchasing power to create early markets for innovative clean technologies across eight hard to abate sectors”.
  • They announced the joining of the cement and concrete sectors to the coalition.
  • The group pledged to purchase at least 10 per cent of near-zero carbon cement and concrete by 2030 and also committed $12 billion to scale up green technologies and cut emissions.

Mitigation work programme:

  • Setup in 2021 at UNFCCC forum.
  • Objective: ‘work programme for urgently scaling up mitigation ambition and implementation.
  • It was proposed to address the insufficiency of Nationally Determined Contributions (NDC), and bridge the gap by increasing ambition in pledges to cut emissions.
  • Should bie guided by the principle of Common But Differentiated Responsibilities- Respected Capabilities (CBDR-RC).
  • It should not be a replication of Global Stocktake.
Environment Here is what to expect at Bonn on climate mitigation