The Global Commission on the Economy and Climate has issued The 2015 New Climate Economy Report, Seizing the Global Opportunities: Partnerships for Better Growth and a Better Climate. It highlights ten key areas of climate action opportunities that could achieve at least 59%, and possibly up to 96%, of the emissions reductions needed by 2030 to limit global warming to under a 2°C rise. The report also notes that these opportunities could deliver significant economic benefits.
The ten key areas of action are focused where growth and emissions are concentrated:
- Accelerate low-carbon development in the world’s cities (Using actions available today, this could generate a stream of savings by 2050 with a current value of US$16.6 trillion; annual GHG emissions could be as much as 3.7 Gt CO2e in 2030.)
- Restore and protect agricultural and forest landscapes, and increase agricultural productivity (Could enable a reduction in annual GHG emissions from land use of 3.3-9.0 Gt CO2e by 2030.)
- Invest at least US$1 trillion a year in clean energy (This increase in clean energy financing could reduce annual GHG emissions by 2030 by 5.5-7.5 Gt CO2e.)
- Raise energy efficiency standards to the global best (Coordinating to gradually raise efficiency standards among the G20 could reduce annual GHG emissions in 2030 by 4.5–6.9 Gt CO2e.)
- Implement effective carbon pricing (Predictable and rising carbon pricing would send important signals to guide consumption and investment decisions.)
- Ensure new infrastructure is climate-smart (Initiatives to invest in infrastructure should include climate considerations to capture significant savings on otherwise carbon-intensive and polluting investments.)
- Galvanize low-carbon innovation (Public funding for low-carbon RD&D should be at least tripled by the major economies in the next decade.)
- Drive low-carbon growth through business and investor action (Businesses will need to adopt long-term target-setting; investors will nee to integrate climate risk into analysis and strategy.)
- Raise ambition to reduce international aviation and maritime emissions (New aviation and shipping standards could help reduce annual GHG emissions by 0.6–0.9 Gt CO2e by 2030.)
- Phase down the use of hydrofluorocarbons (HFCs) (These refrigerants and solvents are fasting growing and need to be replaced with greener refrigerants could avoid 1.1–1.7 Gt CO2e of annual GHG emissions per year by 2030, and drive significant energy efficiency improvements.)
None of these activities will be possible without wide-spread cooperation among governments, cities, businesses, NGOs, and civil society, at all levels. Explore the report online for details on what would make achievement of these ten goals possible.