IETA COP24 Report
KATOWICE, 5 December - If you've already visited the IETA Business Hub at COP24 this week, you might have felt disappointed that we haven't been able to offer you a coffee - but you'll also have noticed that coffee seems to be in short supply throughout COP anyway!
That's all about to change. We've installed a modest coffee machine that should be able to take care of your morning caffeine requirements. Java will be served at the IETA Business Hub Lounge in Hall H!
This morning the Article 6 co-chairs published updated draft texts on Articles 6.2, 6.4 and 6.8, which you can find here on the UNFCCC website.
Dirk Forrister and International Policy Director Stefano De Clara assess the new Article 6 texts.
The new texts are considerably slimmer than their predecessors, and have improved the logical order of their elements. They now focus more clearly around the function of each element.
Parties have been studying the drafts to ensure that their positions are still reflected in the new documents. We expect another iteration of these texts to be published in the next day or two after Parties have made comments on the content.
The process will then shift to a more substantial and bilateral basis as Parties look for compromises and bridging positions, in order to deliver a clean(er) text by Saturday. Technical-level decisions will need to be made before the outstanding political questions are sent up to ministerial level for next week.
Negotiations tend to be "messy" at this early stage of COP, and it's too early to be optimistic or pessimistic. However, the text is better than it was and IETA's particular priorities all remain in play, though there remain a lot of options and brackets!
Once again, we had a busy day of side events, both at the Business Hub and elsewhere in the COP village. We hosted a discussion on the role of carbon capture in Nationally Determined Contributions and in 2050 emissions goals, while Simon Henry, our EU Policy Director, participated in a side-event on how to harmonise different carbon pricing mechanisms under Article 6.
Together with our friends at Environmental Defense Fund, we held a very successful launch event at the UK pavilion for the Katowice Declaration on Sound Carbon Accounting, with speakers including New Zealand's lead negotiator Kay Harrison, Lisa DeMarco of DeMarco Allan LLP, and IETA Board Member Jonathan Shopley.
Alex Hanafi (EDF), Kay Harrison (New Zealand), Jonathan Shopley (Natural Capital Partners), Yue Huang (IATA) and Lisa DeMarco (DeMarco Allan LLP) at the launch of the Katowice Declaration on Sound Carbon Accounting.
The Declaration was supported by more than 40 companies, business groups and NGOs before the launch, and more have joined since then. We invite you to read the Declaration here and get in touch if your organisation would like to sign up.
Thursday's programme of side events at the IETA Business Hub kicks off at 1400 CET with the International Energy Agency presenting its Sustainable Development Scenario. Andrew Prag of IEA and Nikki Bartlett of CDP will highlight the scenario's relevance for business.
At 1530, EBRD will showcase its Finance and Technology Transfer Centre for Climate Change (FINTECC).
Tomorrow is also Business and Industry Day at COP24. The International Chamber of Commerce has a full programme of events taking place in the Wisla side-event room between Halls E and H. The full programme is available here.
As a consequence, there will be no BINGO briefing at 0900 tomorrow.
Finally, we hope you're enjoying and benefiting from our daily reports from COP24. If you know someone who'd like to receive them, please drop me an email with their details and I will add them to our circulation list! We're also active on Twitter, where you can follow us at @IETA.