A range of new initiatives have been announced in
support of energy solutions and forests during the course of the last 48 hours.
Bill Gates launched the "Breakthrough Energy
Coalition" supported by 30 leading Chief
Executives and investors who will invest funds in technologies that reduce
demand for fossil fuels and use their influence to help jumpstart demand for
and availability of green energy sources.
They will pour money into early-stage startups that
promise to provide "everyone with affordable, reliable energy" that
produces zero carbon emissions and support government-backed green energy
research.
It is the kind of initiative that Torsten Thiele of
the Global Ocean Trust says, is needed for the ocean. “The services provided by
the ocean in terms of climate mitigation and climate solutions are vastly
under-recognized. An injection of funds
and recognition for the role of the ocean in preserving life on Earth and the
need to protect it from climate impacts, would be a game-changer, providing
returns to investors while at the same time safeguarding the most vulnerable
States and people from sea-level rise.”
The need for action on forests was repeated often
in Leader’s speeches on Monday. Sixteen
countries recommitted to provide strong, collective and urgent action to slow,
halt and reverse deforestation and massively increase forest restoration.
This commitment includes the aim by some European
countries to provide funding in the region $5 billion from 2015 to 2020, if
forest countries demonstrate measured, reported and verified emission
reductions.
Once again this is an important step for the
forests, albeit falling far short of what experts say is required, but still
amounting to quantifiable commitments for this part of the Earth System. Professor Dan Laffoley vice chair IUCN WCPA –
marine argues that at the very least we need the same for the ocean. “Over 90%
of the extra heat created by CO2 emissions has been absorbed by the ocean along
with a quarter of the carbon dioxide. No other system on Earth does as much for
us in climate change mitigation and we have to protect the ocean’s ability to
continue doing so. This is not an either or situation – we need all the systems
of the Earth to be factored into our climate change response”.
A financial commitment of an additional $248
million for vulnerable countries was also made via the Less Developed Countries
Fund. The focus of the money is for adaptation, but no express commitment was
made to marine carbon sinks such as mangroves and seagrass or to blue carbon as
mitigation.
