Jun 09, 2015 - 8:00am
In the lead-up to the Paris climate talks in November, countries continue to advance their domestic climate and clean energy efforts and developing their post-2020 emission reduction targets. This is The Climate Institute's June update on the most recent developments on new targets and other policies.
The Paris climate summit at the end of the year aims to deliver the world’s next agreement for reducing pollution. Ahead of Paris each country has to nominate its pollution reduction target for the years after 2020. These targets are critical, because they not only determine the ability of the global agreement to succeed, but because they will drive what countries do domestically for decades to come.
“Ultimately, it is domestic policies implemented reduce pollution, not international treaties.”
However a successful Paris agreement will provide a bankable, credible and fair platform enabling countries to do more at home.
In May, countries continued to announce targets and implement domestic policies to modernise their economies and reduce pollution, Australia and New Zealand are yet to announce draft targets. Crucially, global capital is also starting to walk the talk, and investors and their regulators are not waiting for the Paris outcome before they start to position themselves for the inevitable transition to a zero pollution global economy.
Our June update highlights and summarises:
- The initial targets of our international peers
- Will Australia catch up to and even match our peers?
- Meeting the less then 2ºC goal
Domestic policy developments in May
Developments in the financial sector in May
Through to the Paris climate talks at the end of 2015, The Climate Institute will also regularly update our Global Climate Action Map , an interactive tool that allows users to compare policies across countries.