XX EMISSIONS GAP REPORT 2018 – EXECUTIVE SUMMARY
Figure ES.4: Typology of strengthening mitigation ambition of NDCs.
Strengthen or add a GHG target
Increase the stringency of an existing GHG target
Expand the scope and coverage of an existing GHG target
Change the
target period of an existing GHG target
Declare an intent
to overachieve an existing GHG target
Strengthen the modalities of an existing GHG target
Change the type of an existing GHG target
Adopt a new GHG target
Source: adapted from Franzen et al., (2017) Source: adapted from Fransen et al. (2017).
Strengthen or add a sectoral non-GHG target
Increase the stringency of a sectoral non-GHG target
Advance the target year of a sectoral non-GHG target
Declare an intent to
overachieve a sectoral non-GHG target
Adopt a new sectoral non-GHG target
Strengthen or add policies and actions
Strengthen existing policies and actions
Add new policies and actions
Align imlementation of the existing NDC with long-term goals
Commit to achieving the existing NDC via policies and actions that support long-term decarbonization pathways
orchestrators, coordinating with national governments on climate policy implementation. Initiatives and actors also incentivize, support and inspire additional climate action by exchanging knowledge and good practices, engaging in advocacy and policy dialogue, assisting in formulating action plans, and rewarding and recognizing climate actions.
The number of actors participating is rising fast: more than 7,000 cities from 133 countries and 245 regions from 42 countries, along with more than 6,000 companies with at least US$36 trillion in revenue, have pledged mitigation action. Commitments cover large parts of the economy and are gradually expanding in regional coverage. Many of the actors are engaging in so-called ‘international cooperative initiatives’, which are characterized by multi-country and multi-actor engagement.
The numbers seem impressive, but there is still huge potential for expansion. Based on available data, not even 20 percent of the world population is represented in current national and international initiatives, and many more of the over 500,000 publicly traded companies worldwide still can, and must, act. On the fi nancial side, a record of just over US$74 billion of Green Bonds were issued in the fi rst half of 2018, but this still represents only a very small fraction of the capital markets around the world.
The emission reduction potential from NSAs is large, but estimates vary considerably across studies (fi gure ES.5). If international cooperative initiatives are scaled up to their fullest potential, the impact could be considerable compared with current policy: up to 19 GtCO2 2030 (range 15–23 GtCO2
e/year by e) according to one study.
If realized, this would be instrumental in bridging the emissions gap to 2°C pathways.
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