25 February 2015
The EU’s Roadmap to Paris is a good start on the process to reaching an international climate agreement at the end of this year – but more work needs to be done to ensure a role for markets in the final deal, IETA says. The document, published today, sets out what will be in the bloc’s ‘Intended Nationally Determined Contribution’ for the Paris deal, including the agreed-upon minimum 40% cut in emissions by 2030 against 1990 levels – with the possibility of using international credits if the final deal merits the adoption of a tougher target1. It also addresses the need for the Green Climate Fund to stimulate climate finance and the role of the private sector in scaling up climate finance.
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