Dear delegates, how much do you love accounting? We have, at most, 1000 million more tonnes we can emit, so we’d better start to count carefully if we want to avoid a dangerous situation. It is high time that Parties start putting on their accounting hats under the ADP.
It is expected that only clear requirements for the INCDs will make counting of emissions possible and include transparent, comparable, quantifiable, multi-year mitigation targets based on historical reference levels. With Parties starting to decide on their contributions for the Paris agreement, now is an ideal starting point for discussing an adequate accounting framework. A work programme should be established under the ADP so countries can start thinking about the accounting rules that will be needed in the more complex and warmer post-2020 world.
Accounting rules also have to ensure that the use of international carbon markets under a new agreement do not undermine mitigation targets. Avoiding double counting becomes especially important if countries want to use these. Therefore, only countries with an ambitious mitigation target, well below conservatively projected business-as-usual scenarios, and in line with the 2°C degree target should be eligible to participate in international markets. Additionally, their ambition must increase over time.
ECO has never been bashful about its affection for the Kyoto Protocol’s clear accounting framework. But that does not mean all is well! ECO would like to remind Brazil and others that double counting due to CDM emissions reductions being counted towards the mitigation targets of both the host and the purchasing country could lead to well over 1000 billion tonnes more emissions in 2020.
Delegates, accounting is complicated and we are running out of time. Let’s remember, nature won’t fall for accounting tricks.