G7_JAPAN

Climate change and the environment
Christiana
Figueres
Executive Secretary
UN Framework
Convention on
Climate Change
Figueres was appointed Executive
Secretary in 2010 and reappointed
for a second three-year term in
2013. Initially a member of Costa
Rica’s negotiating team, she was
also on the executive board of the
Clean Development Mechanism
and Vice President of the Bureau
ofthe Conference of the Parties
in 2008-09. In 1995, she founded
the Center for Sustainable
Development of the Americas.
Figueres began her life of public
service in 1982, and held several
positions in the Government
of Costa Rica.
@CFigueres
www.unfccc.int
→ sharply on overseas development
assistance and the lending policies of
the multilateral development banks,
including the World Bank. No project
– be it developing energy infrastructure
or investing in urbanisation, transport,
forestry or agriculture – should go ahead
if it flies in the face of the Paris Agreement’s
objectives and the new Sustainable
Development Goals. Second, they can
support developing countries’ climate
action plans. For many, these Intended
Nationally Determined Contributions are
also blueprints for sustainable development.
Many developing countries are determined
to realise their ambitions, but they will go
faster and further with the right kind of
financial, technical or policy support.
Third, G7 members can, through
forward-looking policy innovations and
standards-setting, liberate far greater
private financial flows into the green,
cleaner investments needed to rapidly
peak and then cut global emissions.
Innovations are needed to assist in
building more shock-resistant economies
everywhere, able to handle the climatic
impacts already stored in the Earth’s
systems as a result of some two centuries
of high-carbon industrialisation.
Fourth, greater partnerships between
companies, central and local governments
can also fast-track action nationally. Many
cities, provinces, regions and corporations
are already demonstrating their enthusiasm
and willingness to act.
Before and after Paris
In the run-up to Paris, this broad and
cooperative action agenda found expression
in a huge range of initiatives, most captured
in the Non-State Actor Zone for Climate
Action (NAZCA) portal supported by
scrutiny and data from bodies including
the Carbon Disclosure Project and C40,
the cities alliance. More than 10,000
commitments have been made by cities
and companies, often in collaboration
with governments, the UN and other
international organisations. Almost 60
companies, including Unilever, Swiss Re,
IKEA, Infosys and Walmart, have pledged
to be powered by 100% renewable energy
under the RE100 initiative. Around 450
cities, through the Compact of Mayors,
are also moving on initiatives to cut
pollution and build urban resilience.
Yale University’s analysis, released
in December 2015, shows that:
• 15 of the world’s 20 largest banks
totalling close to $2 trillion in market
value have made commitments, and
green bonds worth almost $50 billion
are financing climate projects;
• 111 Global 500 companies with
a collective $6.7 trillion market
capitalisation are making reduction
pledges on NAZCA;
• 97 of the top 300 cities by gross
domestic product (GDP) using
purchasing power parity (PPP) are
engaged on NAZCA, with a total
GDP PPP close to $20 trillion; and
• more than one-third (609) of the 2,000
largest companies by Forbes 2000 are
engaged on NAZCA and represent
aggregate revenue of $19.2 trillion,
equivalent to the combined GDPs of
China, Japan and Germany in 2014.
Action by cities, companies and investors
is continuing since Paris, underlining a
determination to support governments
in operationalising the new agreement.
• Tata Motors of India and BMW in
Germany recently joined RE100;
• 17 US governors have agreed to jointly
pursue clean energy goals, including
66 G7 Japan: The Ise-Shima Summit • May 2016 g7g20.com