Where Is the Private Sector in #COP21 Talk?

Newswise — As Paris climate talks enter the final frenzied hours, Joyce Coffee, managing director of the Notre Dame Global Adaptation Index (ND-GAIN), points out that business is neglected in the agreement. She says…

“In the 28 page draft, the private sector is mentioned 11 times, mostly as it relates to access to capital. And while carbon pricing is mentioned a few times, along with euphemisms for international emissions trading, the document is likely to remain silent on the word ‘market’ through its finalization.”

On the other hand, good progress on both national commitments and an international agreement is being made.

“Although the most zealous climate mitigators continue to call for a 1.5 degree Celsius target (versus the two degree target that COP21 ostensibly called for), this may not be in climate mitigators best interest,” says Coffee.

“A ‘not bad’ – or the two degree target – outcome will be less likely to die upon return to each national government. Thus, ironically, those who want to kill the Paris Agreement may also be want this ambitious outcome, which would no doubt die upon return to Washington, New Delhi and other climate-agreement tenuous capitals.”

ND-GAIN is the world’s leading global adaptation index and aims to unlock global adaptation solutions that save lives and improve livelihoods while strengthening market positions in the private sector and policy decisions in the public sector. Measuring not only vulnerability but also the readiness to take on investment, it informs strategic, operational and reputational decisions regarding supply chains, capital projects and community engagements. The index includes 20 years of data across 46 indicators for 180 countries.