A Review of the Nigerian Energy Industry

Norway initiates green coalition in Lima

11 December 2014, News Wires – A global coalition was launched at the UN Climate Change Conference in Peru on Wednesday that seeks to increase the use of renewable energy use, chop emissions and cut spending.

The coalition, to be headed by the United Nations Environment Programme (UNEP), came after an ambitious draft negotiating text proposing more draconian emissions targets than previously aired was circulated at the Lima event.

Photo: Upstream

The 1Gigaton Coalition “aims to boost efforts to save billions of (US) dollars and billions of tonnes of CO2 emissions each year by measuring and reporting reductions of greenhouse gas emissions resulting from projects and programmes that promote renewable energy and energy efficiency in developing countries,” the UN said.

The coalition was initiated by Norway, which was also said to be one of the drivers behind the draft negotiating text circulated at the conference on Tuesday and which envisaged a path of a more drastic cut in fossil fuel usage than previously envisaged.

Apart from Norway, Sweden, Chile, Colombia, Marshall Islands, Guatemala, Costa Rica and Panama are said to have been behind the wording of the text.

Among the many proposals was a call for carbon neutrality or net zero emissions or full decarbonisation by 2050, and/or negative emissions by 2100.

It also suggested a 50% reduction in greenhouse gas emissions by 2050 on 1990 levels, and for zero net emissions from developed countries by 2050.

It also suggested clarity on financing to meet such targets and a mechanism for the private sector to invest in projects to meet the targets.

Another proposal was a tax on oil exports from developing countries to developed countries to be established, while also suggesting the phasing out of high-carbon investments and fossil fuel subsidies.

The UN summit in Lima began on 1 December and will end on Friday. It is seen as a final effort to iron out proposals on global climate change solutions before decisions will hopefully be taken in Paris next year.



– Upstream

In this article

Join the Conversation