G20 Leaders' Declaration reaffirms commitment to Paris Agreement despite US withdrawal; action must follow to increase energy access

Get RSS feed of these results

All components of this story

Item
11 July 2017

G20 outcome on climate & energy will have direct implications for businesses

Author: Christoph Bals, Dr. Gerrit Hansen, Lutz Weischer (Germanwatch)

At the G20 Summit in Hamburg, all 19 partners with the exception of the new U.S. Administration stood united in their support for the Paris Agreement and its swift implementation. This year's G20 outcome on climate [...] is the most comprehensive climate package agreed at the G20 to date... Many of the action items outlined [...] will have direct implications for businesses... In order to enable companies to develop Paris Agreement-compatible business models and plans, and thereby minimize the risks of stranded assets, it is essential that large financial institutions and big companies develop their own low-GHG business strategy and undergo climate risk-stress testing... Also in pledging, as governments, to strive “to create an enabling environment that is conducive to making public and private investments consistent with the goals of the Paris Agreement as well as with the national sustainable development priorities and economic growth” the CEAP re-affirms the importance of national frameworks and regulation to “shifting the trillions” from conventional “brown” to green and sustainable investment...

Read the full post here

Article
11 July 2017

Global Unions Reaction to Hamburg G20 Summit

Author: Intl. Trade Union Confederation

It was 19 to 1 on climate at the conclusion of the G20 Summit in Hamburg. The victory for Chancellor Merkel on securing a majority commitment to the Paris Agreement is a relief for the world, but it requires deep cuts in emissions and a commitment to ensure industrial transformation is accompanied by “just transition” measures... The Labour 20 Statement from workers and trade unions at the G20 issued on the eve of the Summit called for policies to ensure coordinated action to create quality jobs for the future, reduce inequality to achieve the Sustainable Development Goals and meet the commitments in the Paris Agreement... The G20 Leaders Declaration was positive in addressing the abuses of human rights and labour standards in global supply chains... “The G20 leaders recognition of workers’ rights in global supply chains and the reaffirmation of the UN Guiding Principles for Business and Human Rights along with the ILO Declaration on Multinational Enterprises and the OECD Guidelines on Multinationals and its complaints mechanism is welcome. Due diligence by all corporations sits at the heart of implementation, and now they need to be held accountable for this to ensure decent work,” said [Sharan Burrow, General Secretary, International Trade Union Confederation]... For the first time, the G20 leaders also committed to encouraging their multinational companies to conclude international framework agreements, which are negotiated with Global Union Federations.

Read the full post here

Article
5 July 2017

Commentary: G20 mostly talk & little action when it comes to energy poverty

Author: Rebekah Shirley, Thomson Reuters

The G20 meets this week with energy and climate a central focus following President Trump’s much-criticized decision to pull the United States out of the Paris agreement. The G20 cannot use the Trump noise, however, as an excuse to renege on its earlier pledge to overcome another major global energy challenge: eradicating electricity poverty for 1.1 billion most rural poor... The G20 has previously agreed on an Energy Access Plan, acknowledging that “the lack of access to energy that is affordable, reliable, viable, sustainable and modern currently acts as a severe obstacle to poverty eradication, economic growth and social development and inclusion, particularly in developing countries.”... Yet, the G20—whose 19 member nations and the European Union account for 75 percent of global greenhouse gas emissions and 65 percent of global clean energy investment—is so far showing little action...

Read the full post here

Article
5 July 2017

New report provides analysis of public financing for energy projects; finds G20 nations provide billions to fossil fuels

Author: David Turnbull, Oil Change International

Each year, G20 countries provide nearly four times more public finance to fossil fuels than to clean energy, according to a new report released today by Oil Change International, Friends of the Earth U.S., the Sierra Club and WWF European Policy Office... The report, for the first time ever, details public support for energy projects from G20 public finance institutions (such as overseas development aid agencies and export credit agencies) and multilateral development banks. It finds that just 15 percent of this energy finance supports clean energy, while tens of billions of dollars are funneled to oil, gas, and coal producers annually... These findings directly contradict the goals espoused in the Paris climate agreement — touted by these same governments — which specifically calls on countries to align financial flows with low-emission development.

Read the full post here

Article
4 July 2017

Commentary: G20 should recognise key function industry plays in global climate protection

Author: Kurt Bock, International Chamber of Commerce

"Industry is a driver of innovation for global climate protection", 4 Jul 2017

The G20 Summit gets underway on Friday in Hamburg, Germany bringing together leaders of the world’s largest economies. Expectations for the group to endorse an ambitious climate and energy action plan are high but [...] successful climate protection will only be possible through collective, global action... Effective global climate protection requires innovations. And innovations require a competitive industry which can advance the research and development of energy-efficient products and processes... For companies, it is therefore even more important that the G20 recognizes the key function that industry plays in achieving the climate targets set out in the Paris Agreement. The G20 should create a regulatory framework that fosters innovation and enables fair competition between industrial companies on a global playing field.

Read the full post here