Over the next 15 years, crucial investments will be made in the world’s cities, land use and energy systems. They have the potential to generate multiple benefits for economic growth, human development and the environment; or they could lock countries into high-carbon pathways, with severe economic and climatic consequences. Through credible, consistent policies to drive resource efficiency, infrastructure investment and innovation, both developed and developing countries can achieve stronger economic performance and climate goals at the same time. This report shows how such actions can be scaled up through cooperative, multi-stakeholder partnerships.
This report identifies 10 key areas of opportunity for stronger climate action which will also bring significant economic benefits. Together, it is estimated that these could achieve at least 59% and potentially as much as 96% of the emissions reductions needed by 2030 to keep global warming under 2°C. Five examples of the 10 key areas can be found below:
- Accelerate low-carbon development in the world’s cities (e.g. prioritising policies and investments in public, non-motorised and low-emission transport, building efficiency, renewable energy and efficient waste management).
- Restore and protect agricultural and forest landscapes, and increase agricultural productivity (e.g. governments, multilateral and bilateral finance institutions, the private sector and willing investors should work together to scale up sustainable land use financing, towards a global target of halting deforestation and putting into restoration at least 500 million ha of degraded farmlands and forests by 2030.)
- Invest at least US$1 trillion a year in clean energy
- G20 and other countries should converge their energy efficiency standards in key sectors and product fields to the global best by 2025.
- All developed and emerging economies, and others where possible, should commit to introducing or strengthening carbon pricing by 2020, and should phase out fossil fuel subsidies.
The other five key areas of opportunity and more information can be found either in the or in the .
Source: The Global Commission on the Economy and Climate (2015): Seizing the global opportunity. Partnerships for better growth and better climate. The 2015 New Climate Economy Report. http://newclimateeconomy.net/