On
the occasion of COP26, we the [undersigned] commit to the following actions to
align our international public support towards the clean energy transition and
out of unabated fossil fuels
Our joint action is
necessary to ensure the world is on an ambitious, clearly defined pathway
towards net zero emissions, that is consistent with the 1.5°C warming limit and
goals of the Paris Agreement, as well as the best available science and
technology. These measures will help stimulate sustainable, resilient and inclusive
economic development globally, and support a just transition for affected
communities
1.We will prioritise
our support fully towards the clean energy transition, using our resources to
enhance what can be delivered by the private sector. This support should strive
to “do no significant harm” to the goals of the Paris Agreement, local
communities and local environments
2.Further, we will
end new direct public support for the international unabated fossil fuel energy
sector by the end of 2022, except in limited and clearly defined circumstances
that are consistent with a 1.5°C warming limit and the goals of the Paris
Agreement
3.We will encourage
further governments, their official export credit agencies and public finance
institutions to implement similar commitments into COP27 and beyond. This
includes driving multilateral negotiations in international bodies, in
particular in the OECD, to review, update and strengthen their governance
frameworks to align with the Paris Agreement goals. For government signatories,
this will also guide our approach on the boards of multilateral development
banks
In committing to
the above, we furthermore recognise
The findings of the
Intergovernmental Panel on Climate Change (IPCC) and IEA net-zero analysis show
that in the pathways consistent with a 1.5°C warming limit and the goals of the
Paris Agreement, the global production and use of unabated fossil fuels must
decrease significantly by 2030;
that the
accelerated alignment of international public and private sector financial
flows is critical to driving energy transitions, energy access and supporting
the development of both emerging and existing clean technologies, improving
livelihoods and employment prospects worldwide;
the progress,
driven in part by enabling public finance investments, in reducing the costs of
clean energy alternatives such as solar and wind power to become cheaper than
unabated fossil fuels in almost every region of the world, revolutionising and
transforming energy options and access;
that investing in
unabated fossil-related energy projects increasingly entails both social and
economic risks, especially through the form of stranded assets, and has ensuing
negative impacts on government revenue, local employment, taxpayers, utility
ratepayers and public health;
the devastating
impacts of the COVID-19 pandemic and the need to recover better and greener for
a sustainable economic recovery that saves lives and improves livelihoods
Signatories
Agence Française de
Développement (AFD)
Albania (Republic of
Albania)
Banco de
Desenvolvimento de Minas Gerais (BDMG)
Belgium (Kingdom of
Belgium)
Burkina Faso
Canada
Costa Rica (The Republic
of Costa Rica)
Denmark (The Kingdom
of Denmark)
The East African Development
Bank (EADB)
El Salvador (Republic of El Salvador)
Ethiopia (The Federal Democratic Republic of
Ethiopia)
The European Investment Bank (EIB)
Fiji (The Republic of Fiji)
Financierings-Maatschappij voor Ontwikkelingslanden
N.V. (FMO)
Finland (The Republic of Finland)
France (République Française)
Gabon (République Gabonaise)
The Gambia (The Republic of The Gambia)
Germany (The Federal Republic of
Germany)
Republic of Ireland
The Holy See (Vatican City State)
Iceland
Italy (The Republic of Italy)
Jordan (Hashemite Kingdom of Jordan)
Mali (The Republic of Mali)
Marshall Islands (The Republic of the Marshall
Islands)
Moldova (The Republic of Moldova)
The Netherlands (The Kingdom of the
Netherlands)
New Zealand
Portugal (Portuguese Republic)
Slovenia (The Republic of Slovenia)
Spain (Reino de España)
South Sudan (The Republic of South Sudan)
Sri Lanka (Democratic Socialist Republic
of Sri Lanka)
Sweden (Kingdom of Sweden Konungariket)
Switzerland (The Swiss Confederation)
UK (The United Kingdom of Great Britain and Northern
Ireland)
United States (The United States of America)
Zambia (The Republic of Zambia
الوكالة الفرنسية للتنمية (AFD)
ألبانيا (جمهورية ألبانيا)
Banco de Desenvolvimento de Minas Gerais (BDMG)
بلجيكا (مملكة بلجيكا)
بوركينا فاسو
كندا
كوستاريكا (جمهورية كوستاريكا)
الدنمارك (مملكة الدنمارك)
بنك تنمية شرق إفريقيا (EADB)
السلفادور (جمهورية السلفادور)
إثيوبيا (جمهورية إثيوبيا الفيدرالية الديمقراطية)
بنك الاستثمار الأوروبي (EIB)
فيجي (جمهورية فيجي)
Financierings-Maatschappij voor Ontwikkelingslanden NV (FMO)
فنلندا (جمهورية فنلندا)
فرنسا (République Française)
Gabon (République Gabonaise)
غامبيا (جمهورية غامبيا)
ألمانيا (جمهورية ألمانيا الاتحادية)
جمهورية ايرلندا
الكرسي الرسولي (دولة الفاتيكان)
أيسلندا
إيطاليا (جمهورية إيطاليا)
الأردن (المملكة الأردنية الهاشمية)
مالي (جمهورية مالي)
جزر مارشال (جمهورية جزر مارشال)
مولدوفا (جمهورية مولدوفا)
هولندا (مملكة هولندا)
نيوزيلاندا
البرتغال (جمهورية البرتغال)
سلوفينيا (جمهورية سلوفينيا)
إسبانيا (Reino de España)
جنوب السودان (جمهورية جنوب السودان)
سري لانكا (جمهورية سريلانكا الديمقراطية الاشتراكية)
السويد (مملكة السويد كونونجاريكيت)
سويسرا (الاتحاد السويسري)
المملكة المتحدة (المملكة المتحدة لبريطانيا العظمى وأيرلندا الشمالية)
الولايات المتحدة (الولايات المتحدة الأمريكية)
زامبيا (جمهورية زامبيا)
https://ukcop26.org/statement-on-international-public-support-for-the-clean-energy-transition/
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