Greetings from Madrid! COP25 is now underway, and we’re excited to bring you a digest of the planned programme of talks, as well as a preview of our events at the IETA Business Hub for Tuesday.
It’s early days, and not all of us are yet on site, but the first impressions from our colleagues on the ground is that Spain has worked a minor miracle to get everything into place at such short notice. We hope this “can-do” spirit will extend to the negotiations ahead…
Article 6 negotiations
After the opening ceremonies, the Week 1 work plan for Article 6 negotiations was laid out, which will begin on Tuesday morning with a meeting between the chair of SBSTA (Paul Watkinson) and senior delegation officials.
The SBSTA chair also issued a reflections document, in which he urges Parties to work quickly and harmoniously to reach agreement on the outstanding items, and lays out the work that remains to be completed. He particularly warns Parties that “business as usual in the way we worked in SBSTA 50 will not deliver.”
The Presidency plans to host contact groups and informal negotiations each day until Friday, in order to allow plenty of time for Parties to advance the work on draft text.
Paul Watkinson intends for the negotiations to produce a first iteration of a revised text by Wednesday 4 December, with a second iteration to follow on Friday 6 December or Saturday 7 December. This leaves room for a further iteration to be released before SBSTA closes on Monday December 9.
Parties will begin their work based on the negotiating texts from last year’s COP as follows: Article 6.2; Article 6.4
It’s already clear that, like last year, issues such as accounting, treatment of sectors outside the NDC, overall mitigation in global emissions, the share of proceeds, the CDM transition and double-counting are going to be bones of contention among Parties and groups.
As you may recall, IETA and EDF issued the Katowice Declaration on Sound Carbon Accounting, and we will be maintaining a high profile on this issue during the talks.
IETA Business Hub
Activity kicks off in earnest tomorrow at our Business Hub. We have five sessions scheduled, but would like in particular to draw your attention to an event that runs from 1400 to 1800 Madrid time, entitled “Business Dialogue on Carbon Markets and Article 6”. The agenda is here.
This session, supported by the COP Presidency, the ICC, CLG Chile, CEBDS and the World Bank, will see experts explain the benefits of carbon markets, look at some current examples in Latin America and then examine the prospects for Article 6 here in Madrid. We’ll welcome speakers from the UNFCCC, ENEL, the government of Chile, ICAP, DSM, Shell and the World Bank, among others.
At 1200 we’ll also host an event led by the Japanese Ministry of the Environment, titled “Joint Crediting Mechanism: Latest Updates and Business Engagement”.
Our partner ACWA Power hosts a session at 1030 on how to improve inclusiveness to achieve the Paris Agreement’s ambitions.
And our last session of the day, held by the European Round-table on Climate Change and Sustainable Transition, will cover response measures with a special focus on Chile.
IETA’s Business Hub is located in Hall 8 at the COP site, and you can find a map here, as well as our full agenda for the two weeks here.
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