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Monaco Submits INDC[viewed]

The UNFCCC Secretariat has announced that Monaco is the 50th Party to formally submit its intended nationally determined contribution (INDC), which sets out a greenhouse gas (GHG) emissions reduction target of 50% below 1990 levels by 2030. The INDC is communicated in the context of Monaco's previously announced goals of reducing emissions 30% by 2020 and 80% by 2050.

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White House Launches American Business Act on Climate Pledge[viewed]

The White House has launched the American Business Act on Climate Pledge, supported by 13 of the largest American companies, whose pledges represent more than US$1.3 trillion in revenue in 2014 and a combined market capitalization of at least US$2.5 trillion. The Pledge recognizes those countries that have already put forward climate targets, and voices support for a strong outcome at the 21st session of the Conference of the Parties (COP 21) to the UN Framework Convention on Climate Change (UNFCCC) in Paris in December 2015.

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UNECE Calls for Comments on Draft CCS Specifications[viewed]

The UN Economic Commission for Europe (UNECE) has announced that the draft 'Specifications for the Application of the UN Framework Classification for Fossil Energy and Mineral Reserves and Resources 2009 (UNFC-2009) to Injection Projects for the Purpose of Geological Storage' are open for public review. UNECE describes storage of carbon dioxide (CO2) as the "initial and main focus" of the specifications, though they could potentially be applied to other projects, such as storing natural gas.

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Stern Confirms Economic Case for Climate Action[viewed]

An article released ten years after the 'Stern Review on the Economics of Climate Change' reaffirms that the cost of inaction on climate change is still greater than the cost of action. Authored by Nicholas Stern, who authored the original Review, the article, titled 'Economic Development, Climate and Values: Making Policy,' finds that the case for climate action is even stronger today than at the time of the Stern Review's publication a decade ago.

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Major Economies Forum Discusses Elements of a Legally-Binding Climate Agreement[viewed]

At its 22nd meeting, the Major Economies Forum on Energy and Climate (MEF) focused on issues related to the global climate change agreement that is expected to be adopted at the 21st session of the Conference of the Parties (COP 21) to the UNFCCC. The participating economies, mostly represented at the ministerial level, discussed their views on the legal form and contents of the agreement. Despite diverse positions on these aspects, the co-chairs called the meeting "productive" and "very constructive."

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Civil Society Reflects on FfD3, Issues Recommendations on Post-2015 Agenda[viewed]

Civil society organizations have responded to the Addis Ababa Action Agenda (AAAA) of the Third International Conference on Financing for Development (FfD3), and have released responses and summaries to the draft outcome document for the UN summit for the adoption of the post-2015 development agenda. Responses address, inter alia: areas of consensus and disagreement on the post-2015 draft; recommendations on improving text related to inequality, climate change, energy, land and other topics; data challenges; the translation of discourse into policy; education; and the role of business.

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APEC Advances Sustainable City Development Efforts[viewed]

Asia-Pacific Economic Cooperation (APEC) economies have announced accelerated support for sustainable city development in the region. According to the APEC Energy Working Group, APEC officials are advancing technical support for solar-powered, energy-efficient buildings and high efficiency lighting, improved vehicle fuel efficiency labeling and consumer information, and accessible green energy financing.

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Japan Submits INDC[viewed]

The UNFCCC Secretariat has announced that Japan is the 47th Party to formally submit its intended nationally determined contribution (INDC), which sets out a reduction target of 26% by fiscal year (FY) 2030 compared to FY 2013 (25.4% reduction compared to FY 2005). This reduction equates to approximately 1.042 billion tons of carbon dioxide equivalent (CO2-eq) as 2030 emissions, according to the INDC.

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FfD3 Concludes with Adoption of Addis Ababa Action Agenda [viewed]

The Third International Conference on Financing for Development (FfD3) has concluded with the adoption of the Outcome Document of the Conference, the Addis Ababa Action Agenda (AAAA). In support of the AAAA, a number of significant partnerships were launched during FfD3, including: the Addis Tax Initiative, which will support strengthening domestic tax systems; the Global Financing Facility in Support of Every Woman Every Child, which brings together countries, donors and the private sector; and the Commission on Financing Global Education.

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IISD GSI Event: Fossil-Fuel Subsidies Reform Can Finance Development[viewed]

Reforming fossil-fuel subsidies can free up funds for investing in sustainable development and reduce global greenhouse gas (GHG) emissions by approximately 10%, according to a high-level side event held at the third International Conference on Financing for Development (FfD3) in Addis Ababa, Ethiopia. Participants also underlined that current low international energy prices create a window of opportunity for fossil-fuel subsidy reform.

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