PwC comment on progress at Bonn Climate negotiations

Published at 13:10 PM on 09 June 2015

Jonathan Grant, director, PwC sustainability and climate change, comments on progress at the Bonn climate negotiations, following the G7 Leaders Summit pledge to eliminate fossil fuel subsidies. 

"The climate negotiations here in Bonn feel a world away from  the G7 leaders meet. Government representatives in Bonn are making little progress slimming down the unwieldy draft Paris agreement. The major divisions are not within the G7 countries but between the rich countries and the poorest, most vulnerable countries and the newly emerging economies. With over five months before Paris, there is little reason to compromise and a lot of brinkmanship at this stage.

"This frustrating phase of the negotiations is typical in advance of a major summit. Everyone is operating under the pretence that editing and streamlining for long enough will actually produce a coherent and short text with clearly defined alternatives for ministers to review. The discussions quickly got bogged down last week in line by line review of different sections of the 80-plus pages of text.

"The G7’s call for decarbonisation of the global economy this century is significant, but their own emissions targets for Paris fall short of this. Keeping to a two degrees budget requires average annual reductions in carbon intensity (or emissions per unit of GDP) of over 6% each year according to the PwC Low Carbon Economy Index. This compares with Paris targets equivalent to 3.1% for Japan, 3.9% for Canada and the EU and 4.3% for the US.  As emissions from the G7 represent an ever-decreasing portion of the global total, major emerging economies now need to declare their targets for Paris."

Notes:

Read PwC's analysis of countries' emissions reduction proposals to date here, including analysis of Canada, US, EU, Mexico and Japan.

Follow comment from PwC’s climate policy and economics specialists @pwcclimateready or contact the Rowena Mearley in the PwC press team at  +44 207 213 4727 for briefing/further details.

PwC’s sustainability and climate change advisory team was established in 2007, and combines 700 experts globally, with over 100 in the UK. Specialists work with public and private sector clients. We focus on emerging issues of climate change policy, economics and development, sustainability/CSR strategy, supply chain, responsible investment, measurement, reporting and assurance.

www.pwc.co.uk/sustainability


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