- Investors are shifting the trillions – more than 500 institutions representing over US$3.4 trillion in assets have made some form of divestment commitment
- Negotiations on draft text move forward, but major unresolved issues like finance are slowing progress across the board
- UN aviation and shipping bodies awarded ‘Fossil of the Day’
Government negotiators continued their work toward consensus on the Paris text – in focused spin-off groups and informal meetings – on Wednesday. We’re hearing reports that bridging proposals are helping consolidate positions, effectively streamlining text on various elements. But major unresolved issues like finance are slowing progress across the board. How developed country governments plan to scale up annual climate finance to US$100 billion annually by 2020; how they’ll ensure a significant portion of that finance goes toward adaptation; and confidence that climate finance will increase after 2020 remain crux.
Efforts to protect the wins we’ve secured, enshrining important social dimensions into the draft agreement are in full swing. Our partners are fighting to ensure human rights, indigenous rights, intergenerational equity, gender equality, and a just transition aren’t weakened or dropped.
They’re also actively and visibly campaigning to support the most ambitious options central to the agreement, like the long-term goal for the complete decarbonization of the global economy. Focused spin-off groups are scheduled to wrap Thursday evening, giving the co-chairs time to revise the text and present it at least once on Friday, before handing the process over to ministers on Saturday.
News, links & useful grist that caught our eye
We know the Paris agreement is an opportunity for governments to significantly bolster our climate change resilience and speed up the clean energy transition, but Wednesday offered up even more evidence that the move away from fossil fuels is inevitable. 350.org dropped shocking numbers on the quickening pace and massive scale of the divestment campaign, announcing that more than 500 institutions representing over US$3.4 trillion in assets have made some form of divestment commitment to date.
Speaking at a press conference Wednesday, Bill Mckibbon described the movement’s impact as having “permanently changed the energy finance landscape. No responsible institution wants to be financially or morally implicated in yesterday’s fuels.” Costs are dropping, demand is rising and both the business and moral case against fossil fuels are gaining mainstream acceptance. Fossils are falling, just not fast enough.
Climate resilience was another big theme. ActionAid, Care International and WWF released their report on “Climate Reality in the 21st Century,” examining the real life reality of loss and damage, while outlining recommendations to ensure the international community’s response can adequately address the issue in Paris. US CAN also drilled down on the issue in a press conference, focused on why the issue of loss and damage is important for developed and developing countries alike. Tonya Rawe from CARE USA told journalists, “This is something that every country is grappling with but a lot of vulnerable countries lack the capacity to really address.”
Another new report from Oxfam breaks down the idea of carbon inequality – showing that the poorest half of the population are responsible for just 10% of emissions, while the world’s richest 10% are responsible for around half of global emissions.
ICAO and the IMO earned today’s Fossil of the Day award. The multilateral organizations tasked with curbing emissions from international aviation and shipping – equivalent to the emissions of Japan and Germany combined – are currently exempt from being included in the Paris Agreement and are doing their best here to keep it that way. Without action, emissions from bunkers will grow 270% by 2050 – sinking any chance of limiting temperature rise to safe levels.
Our friends at Green TV deserve some love. They’re posting exceptional daily COP21 video summaries (giving you the gist of each day much faster than working through a Daily Tck email!), and regular short explainers on key issues and events as they happen. You can find their COP21-relevant videos and photos on The Tree’s media hub.
The Tree team also pulled together a communications brief summarizing recent updates on the renewable energy transition, painting a clear narrative with a library of links, quotes, and suggested actions to back it up.
If you’re in Paris, join our Daily Tck meeting in Observer room 7. If not, you can tune in live online. The Daily Tck meeting is a chance for civil society actors from across the UNFCCC to gather intelligence, share tactics and ignite collaboration. You can also sign-up for our COP21 mailing list, where we’ll share meeting notes and resources. Catch the live-stream here.
From press conference land – Friends of the Earth International laid out their expectations for the COP, focusing on the energy revolution; CARE and CAN US both hosted pressers focused on Loss and Damage; and the Climate Matters talked about the latest climate science with Dr James Hanson.
The Climate Action Network is publishing daily ECO newsletters, laying out their case to negotiators.
There’s a slew of quality blogs on with updates from inside the negotiations from our Climate Trackers. Our Paris team is also writing for newspapers around the world. You can find some of those stories via their twitter group.
We’ll also keep you abreast of developments in the wider world of climate activism and action at tcktcktck.org.