In preparation for the UNFCC COP21 climate negotiations in Paris this month, countries around the world have been putting forward their Intended Nationally Determined Contributions (INDCs), which outline the specific pledges countries intend to take post-2020 towards reducing their emissions. More than 170 countries have put forward INDCs to date, covering more than 90% of global emissions.
To help build on this momentum CCAP has recently released a paper that highlights the importance of converting INDCs into policies, measures and finance-ready investment strategies after Paris.
Through policy dialogues, focused discussions with climate negotiators, and on-the ground technical assistance, CCAP has recognized a growing consensus that developing countries need support to convert their INDCs into long-term transformational actions.
Taking this work forward is timely, given that the Green Climate Fund (GCF) is now “open for business,” and is actively looking for a strong pipeline of projects to fund. Other public institutions and private investors are also looking for ways to scale up climate-friendly investments. The paper takes a deep look at INDCs from key developing countries to assess their progress and explores ways to build on Paris’s momentum to advance the conversion process after COP21—converting intention into action.
- INDC Conversion is Needed. Of the 39 developing countries analyzed, 35 indicated that they would need international support to achieve greater outcomes to implement the pledges than they can achieve on their own. While many countries lay out plans for measures to achieve their targets, there is a need for greater detail.
- Needs for INDC conversion vary country by country. There is a wide range of progress among the countries toward converting INDCs into implementable actions. For many developing countries, this will be the first time that they set economy-wide targets for emissions reductions, and they may need support to develop specific plans and policies, and to design finance-ready investment strategies to make their commitments concrete. Other countries already have sophisticated, climate change strategies, may only require support for specific components.
- Support for INDC Conversion exists and is growing. With INDCs now on the table, there are strong signals from a variety of sources, including from the GCF, that these pledges will be met with support to turn these goals into concrete action
- INDC Conversion is not a post-2020 issue. The need for conversion is widely accepted to implement the INDC targets, and the time is now to get the process started. Paris sets the stage for a “race to the top” to achieve the transformation of national economies over time. Financial support that could be directed to INDC conversion exists. With INDCs now on the table, a clear signal from Paris could spur a variety of sources, including the GCF, to provide the support to turn the INDC goals into concrete action.
To download the full paper, click here.