The Need for INDC Conversion
In preparation for the UNFCC COP21 climate negotiations in Paris this month, countries around the world have been putting forward their Intended Nationally Determined Contributions (INDCs), which outline the specific pledges countries intend to take post-2020 towards reducing their emissions. More than 170 countries have put forward INDCs to date, covering more than 90% of global emissions.
To help build on this momentum CCAP has recently released a paper that highlights the importance of converting INDCs into policies, measures and finance-ready investment strategies after Paris.
Through policy dialogues, focused discussions with climate negotiators, and on-the ground technical assistance, CCAP has recognized a growing consensus that developing countries need support to convert their INDCs into long-term transformational actions.
Taking this work forward is timely, given that the Green Climate Fund (GCF) is now “open for business,” and is actively looking for a strong pipeline of projects to fund. Other public institutions and private investors are also looking for ways to scale up climate-friendly investments. The paper takes a deep look at INDCs from key developing countries to assess their progress and explores ways to build on Paris’s momentum to advance the conversion process after COP21—converting intention into action.