Kathmandu- Prime Minister, Pushpa Kamal Dahal, Prachanda is set to participate in the 'Climate Ambition Summit' in the 78th General Assembly of the United Nations.
UN Secretary-General Antonio Guterres has invited world leaders to convene the 'Climate Ambition Summit' at the UN Headquarters in New York on September 20, 2023. Prime Minister Prachanda, attending the 78th General Assembly, will also engage in the summit, presenting a valuable opportunity for Nepal.
While Nepal boasts low carbon emissions, it contradictorily bears the climate change impacts. Experts assert that this presents an opportunity to advocate for climate finance on the international stage, shedding light on Nepal's significant contributions to mitigating climate change.
The United Nations Intergovernmental Panel on Climate Change (IPCC) has previously underscored the imperative “The importance of acting urgently to combat climate change". The climate crisis has inflicted widespread damage, and global greenhouse gas emissions continue to rise. The world needs urgent reductions in emissions now and limit global warming to 1.5 degrees Celsius above pre-industrial levels. In order to limit global warming over the next three decades, the report emphasized the need to achieve zero carbon emissions to meet this crucial target.
While those least responsible for the climate crisis are already suffering its consequences, the report indicates the need for swift support to help them adapt and recover. Governments and international financial institutions must prioritize equity and climate justice as essential components of their response.
The summit is expected to serve as a pivotal moment, illustrating the collective global commitment to expediting the shift to a climate-resilient global economy. According to the UN, this shift prioritizes equitable access to renewable energy.
The design of the summit has been prepared in three different ways including ambition, credibility, and implementation.
Ambition
Government leaders, especially major emitters will be expected to deliver Nationally Determined Contributions (COP26) by 2030. These contributions should encompass updated net-zero goals, transition plans towards cleaner energy sources with commitments to halt new coal, oil, and gas production and emissions, strategies for phasing out fossil fuels, more ambitious targets for renewable energy, commitments to green climate financing, and comprehensive plans for economic adaptation and resilience. The conference will also urge all major emitters, with a particular emphasis on G20 governments, to commit to absolute emission reductions by 2025. These commitments should encompass economy-wide NDCs, which include all types of greenhouse gases.
Credibility
Leaders of businesses, cities, regions, and financial institutions are expected to reveal their plans, aligning with the UN-backed credibility criteria. These criteria were detailed in the 'Integrity Matters - COP27' report, which was commissioned by the UN Secretary-General. Voluntary net-zero commitments should include a dedication to curbing global warming to 1.5°C. It calls for 2025 and 2030 targets, scope and coverage of emissions, transition plans to stop and phase out fossil fuels, real emissions reductions, and a commitment to public advocacy for science-based climate action.
Implementation
At the summit, governments, international and regional organizations, financial institutions, private sector leaders, and civil society leaders will address challenges and opportunities in speeding up the decarbonization of high-emission sectors like (energy, transport, aviation, steel, and cement). They will also explore existing or emerging implementation partnerships and climate justice delivery mechanisms. These include discussions on reforming the international financial system, early warning systems, adaptation measures, and strategies for addressing loss and damage. Each stakeholder will present their respective plans.
