On the tail of yet another year of climate disasters, 2022 ushers in the final version of the Paris Agreement, making it a functioning global climate treaty. But it alone can’t save us.
New Zealand’s international pledges, domestic laws and carbon budgets run on different timelines. They could be better aligned to make sure everyone understands how Aotearoa plans to cut emissions.
Uncertainty about carbon market rules will be problematic for New Zealand, given its reliance on overseas carbon trading to meet its new climate pledge.
In Paris, the French drafted ambitious texts and dared the biggest emitters to oppose it. In Glasgow, it’s the least developed countries which will have to do the most work.
New Zealand has announced a more ambitious pledge to cut emissions, but the commitment relies on buying credits from offshore. There is no system for doing this yet, or for ensuring genuine cuts.
A global emissions-credit trading system could bring an end to the production of coal-fired electricity, spur innovation and help countries meet their greenhouse gas emissions goals.
Pacific nations look to New Zealand for climate leadership. It has enshrined carbon neutrality by 2050 and a 1.5°C target in law, but, so far, emissions have continued to rise.
Every five years nations must evaluate their progress towards the goals of the Paris Agreement. But this “stocktake” lacks detail making it difficult to measure progress on climate action.
Under the Paris Agreement, countries have registered plans to meet emissions reductions, but the current pledges, if fully realised, would take us to 2°C by the 2050s.