EU and Denmark after COP21
The Paris Agreement has established the overall framework of the global transition to mitigation of greenhouse gas emissions. It is now a question of ratification of the agreement in each individual country and transformation of the goals into action and results. For Denmark, this means that we, together with other EU member states, shall meet the EU target of reducing greenhouse gas emissions by 40 percent by 2030 as compared to 1990.
- The negotiations of the ambition mechanism must be finished to the detail
The so-called ambition mechanism of the Paris Agreement prepares the ground for the EU in the future to take stocks continuously of the contributions of the member states as to the climate effort. This will of course have to take place on a transparent and robust basis for decision considering. i.a. the exact temperature goal, mirrored in the Paris Agreement. By 2020, at the latest, the EU should reconfirm or update its climate goal for 2030.
Furthermore, negotiations as to how the countries shall report on their emissions must be finished within a couple of years. In this connection, it is important for Denmark and the EU that all countries play by the same regulatory system. At the same time, there must be flexibility for the least developed countries.
- A global reduction effort before 2020
During the COP21, the countries agreed to work for an increased effort to reduce the greenhouse gas emissions before the Paris Agreements becomes effective in 2020.
Up to 2020 a series of technical expert meetings will be held focusing on politics and technologies that will contribute to the mitigation of emissions - for example in the field of renewable energy and energy efficiency. In certain areas, Danish companies have positions of strength.
The meetings support the annual dialogue at the COP meetings with participation of ministers as well as representatives of the private sector. The target is to create political momentum and to establish a forum for launching of new initiatives and partnerships and to follow up on previously introduced initiatives. These activities are in immediate continuation of the action-oriented agenda, the “Lima-Paris Action Agenda”(LPAA), focusing on the presentation and increasing of the climate effort by the private sector and other non-governmental actors.
- Climate financing for developing countries
In the Paris Agreement the countries confirm their promise to raise 100 billion USD a year as from 2020 for the climate efforts of the developing countries from public and private sources. A new goal for financing for developing countries shall be set no later than by 2025 for the subsequent period. The Paris Agreement makes it possible to more countries to contribute to the financing.
Denmark and the EU can play an important role by assisting the developing countries in transforming their climate goal into tangible projects through climate financing and capacity build-up. As for Denmark, we focus especially on assisting important emerging economies in their green transition by making Danish experience, expertise, and technology available.
As an example, this could be by means of the Danish Ministry of Energy, Utilities and Climate's bilateral cooperation with authorities in countries like China, Mexico, Vietnam, and South Africa. Our work is i.a. to spread cost-efficient, long-lasting Danish solutions that can contribute to the reduction of energy costs and mitigation of greenhouse gas emissions.
Furthermore, Denmark focuses on the mobilisation of climate financing from private actors. This is done by means of i.a. the Danish Climate Investment Foundation and in cooperation with the other Nordic countries.