Energy spencer(iddri) ccxg gf sep2014
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Energy sector transformation and the 2015 agreement: providing long-term investment signals. Presentation by T. Spencer, IDDRI
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Energy spencer(iddri) ccxg gf sep2014
- 1. Energy sector transformation and the 2015 agreement: Providing long-term investment signals Thomas Spencer Program Director Energy and Climate, IDDRI thomas.spencer@iddri.org Institut du Développement Durable et des Relations Internationales 41 rue du Four – 75006 Paris - France www.iddri.org
- 2. Providing long-term investment signals This presentation looks mainly at the design of the mitigation framework in the 2015 agreement Although of course the financial framework will be important for providing incentives and resources IDDRI - Thomas Spencer
- 3. Long-term investment requires credibility • Money is trust … • … in domestic policies, but also of the international framework: • Supports the domestic political-economy for ambitious climate policies domestically • Finance and technology are globalized IDDRI - Thomas Spencer
- 4. Credibility requires looking beyond emissions • Many factors interact with the achievement of emissions targets • How to distinguish the ‘signal’ of deep decarbonisation effort, from the ‘noise’ of short-term uncertainty/variability? • The capacity to commit credibly is different for different levers/sectors, but all need to be addressed in the long-term 105 100 95 90 85 80 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 IDDRI - Thomas Spencer CO2 indicators for the G20 gCO2/kWh CO2/GDP
- 5. A multilevel contribution framework IDDRI - Thomas Spencer
- 6. A multi-period contribution structure, including long-term pathways IDDRI - Thomas Spencer
- 7. Key Messages • Money is trust: investment means credibility • Domestic and international credibility requires revealing the content of transition A target structure needs to includes sectoral indicators for information purposes and allow the reflection of national circumstances and development priorities • The framework needs to be dynamic but credible Regular predefined commitment periods + long-term indicative pathways • Credibility also means the accountability framework + legal structure We should consider how the framework for the mutual recognition of implementation can be strengthened IDDRI - Thomas Spencer
- 8. N.B. this presentation is based on the work of the IDDRI climate team IDDRI and SDSN, “Pathways to Deep Decarbonization”, 2014 Thomas Spencer, Fu Sha, Zou Ji, Michel Colombier, “The Mitigation Framework in the 2015 Climate Change Agreement: from Targets to Pathways”, IDDRI, 2014. Alexandre Magnan, Teresa Ribera, Sebastien Treyer, Thomas Spencer, “What adaptation chapter in the New Climate Agreement?”, IDDRI All available at: www.iddri.org IDDRI - Thomas Spencer
Editor's Notes
- As a complement to aggregate targets, the framework should also allow countries to highlight how they are addressing major sectors: Highlight forceful, precise action where outcomes are more certain (e.g. sectoral peaking or low-carbon share of energy) Highlight efforts on long-term, structural drivers of deep emissions cuts (urbanization policy, innovation, energy efficiency in infrastructure etc.). Such indicators would also provide important information to investors and the private sector