Identifying future models to raise ambition
The entry into force of the Paris Agreement represents a unique opportunity for voluntary action. For the first time, both developed and developing nations have pledgedto reduce their greenhouse gas emissions. The desire for international action on climate change was demonstrated by the speed at which the Paris Agreement entered into force. However, the scale of emission reductions pledged is insufficient to restrict the increase in the global average temperature to well below 2°C above pre-industrial levels – the primary objective of the Agreement.
This presents an opportunity for the private sector to step up and take a leadership role by helping to bridge this ambition gap. At the same time, we have witnessed an increasing number of private-sector focused initiatives to acknowledge the risks of climate change and take action.
The voluntary carbon market provides the tools to enable this climate leadership. However, there are several market challenges which need to be addressed before implementation of the NDCs.
ICROA has undertaken a programme of work to address these challenges. In May 2017, we organised our first workshop with a broad range of market stakeholders to gather opinions on key questions regarding the future of voluntary action.
We are building on this workshop by developing guidance on pathways to increased voluntary action by non-state actors.This sets out ICROA’s views on how the market can grow after 2020, and how voluntary action can contribute to delivering the objectives of the Paris Agreement. The guidance describes three potential models for the future framework of the voluntary carbon market, accommodating the variability in NDCs and the provisions set out in the Paris Agreement.
ICROA has conducted targeted consultation with selected stakeholders on this guidance, including the UNFCCC, Parties, independents standards and civil society,and this document will serve as a basis for discussion in this roundtable event.
This second event will take the format of a moderated discussion in a roundtable format. The session will start with a short presentation summarizing ICROA’s guidance document on ‘Pathways to increased voluntary action by non-state actors’. It will be followed by short interventions from selected stakeholders and market participants. The session will then move into a moderated discussion amongst all participants in a roundtable setting.When: 2:30-4pm, Friday 10th November 2017
Where: IETA Business Hub, Bonn Zone, COP23, Bonn, Germany
Contact: Simon HENRY, ICROA Programme Director
Workshop Flyer: Download here