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  • IETA COP25 Report Day 5 - December 6 2019

IETA COP25 Report Day 5 - December 6 2019

07 Dec 2019 8:44 PM | Anonymous

"You’d think that with fewer moving pieces, [the process] should be easier, but instead the family just got bigger - the rooms are bigger and still packed this time!" Dirk Forrister talking to the press about the relative prominence of Article 6 at this year's COP.


Dear Colleagues,

With little public progress being seen in the negotiations, Friday at COP25 was a “holding” day for most observers. Nevertheless, we expect new text to be issued at around midday tomorrow, which may represent the first step forward at this COP.

Last night’s “informal informal” session saw Article 6.4 discussions covering accounting for single-year vs multi-year NDC targets, baselines and additionality, as well as some time spent on methodology options for the 6.4 mechanism.

Today’s action began with a Heads of Delegation meeting with the SBSTA chair, focusing on three main issues: Share of Proceeds/OMGE, accounting and corresponding adjustments and the CDM transition to the new 6.4 mechanism.

Negotiating sessions were again in an “inf inf” setting, and dealt with Article 6.2 topics including how to deal with NDCs that are measured in non-GHG metrics, timing of corresponding adjustments and whether adjustments should be done annually or over longer periods and methodologies for calculating NDCs. On Article 6.4 there was discussion of whether to review existing CDM methodologies and accreditation standards.

Several observers remarked on the length of some interventions that interrupted the flow of the talks, and they suggested that this will have blocked progress and put the co-facilitators in a difficult position when it comes to creating a new version of the text that provides progress, without being seen to overstep the Parties’ wishes.

The meeting closed at around 1900 hrs and a new text will be drafted overnight; it’s likely this text will be released around midday tomorrow, after a further Heads of Delegations meeting.

The co-facilitators indicated that, while the new draft will follow Parties’ input, they will be “bold” in their ambition for the next version. They conceded that Parties may not be happy with the text’s reflection of their individual positions, but the draft will aim at a good compromise, based on where the co-facilitators see the “landing zones”.

The meeting closed at around 1900 hrs and a new text will be drafted overnight; it’s likely this text will be released around midday tomorrow, after a further Heads of Delegations meeting.

It’s apparent that there has been no significant movement as yet by Parties, and while the more seasoned observers say this is to be expected, it does leave very little time for SBSTA to complete its work. It also suggests that ministers may have a full plate of political decisions in front of them when they arrive.

Today at the IETA Business Hub

We began with a session on how market-based mechanisms such as pricing for “blue carbon” may help cut emissions and raise resilience. Abyd Karmali of Bank of America led a discussion that included insights from the new Ocean Risk and Resilience Action Alliance.

The New Climate Institute led a discussion on how emission-cutting projects can also address sustainable development goals. Using SD indicators is the key to quantifying targets that can improve implementation and achievement of sustainability goals.

American Carbon Registry hosted a discussion on the implementation of the CORSIA aviation market, giving a state-of-the-market update as well as delving into the interconnections between the Paris Agreement, the UNFCCC and ICAO.

Dirk Forrister, Steve Rose from EPRI and Leon Clarke of the University of Maryland participated in a very successful BINGO Day event, presenting the results of this year’s modelling study on the potential value of Article 6. Attendees were impressed by the sheer scale of savings and additional abatement opportunities that exist under a well-designed set of market mechanisms.

Back at the Business Hub, IPIECA presented a session on how technology and nature can cooperate to boost climate ambition and outcomes. Shell’s David Hone led the discussion with IPIECA, IETA’s Katie Sullivan, David Antonioli of Verra and Maggie Comstock of Conservation International among others.

Our final event of the day was hosted by Nigeria’s Kaduna state. Representatives from the Nigerian Climate Change Investment Initiative discussed climate-smart agriculture and agroforestry. Kaduna state is seeking partners, funding and technology support for their initiative.

Activity wrapped up with a reception hosted by IPIECA, supplemented by some very tasty Nigerian snacks. Thanks to NCCII for bringing the spice!

Saturday’s Hub Activities

IETA will host three events tomorrow, kicking off at 1030 with a presentation by WaterIsLife on how to solve the world’s water crisis.

At 1200, the UNFCCC will showcase its initiative that establishes multi-sectoral national committees to cooperate on developing market mechanisms.

Finally, at 1400, S&P Global and the Principles for Responsible Investment take over the Business Hub to present an event on how to accelerate the response of business and investors to climate risk. The session will end with a reception at 1630.

On Sunday the COP grounds will most likely be closed, and IETA will resume its schedule of side events on Monday at 0800. We will send out a daily report on Sunday to review Saturday’s progress of the Article 6 talks and give you an update on our event programme for Monday.

Lastly, a quick reminder of some useful links:


IETA's COP25 homepage

UNFCCC latest texts (Wednesday's versions): Article 6.2Article 6.4 

IETA's 2019 Annual GHG Report

Kind regards,

Alessandro




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