Beyond Paris: Accelerating International Progress on Climate Change and the Green Economy

Abstract

The Paris Agreement was one of the key moments in global climate governance, setting a new framework for how countries could together address climate change. However, at this point of the intensification of the climate crisis, it is evident that incremental progress would not be sufficient to meet these goals of limiting global warming to 1.5°C or transitioning into a green economy. This article discusses strategies for accelerating international progress beyond the Paris Agreement, focusing on stronger commitments, innovative policies, and collaborative frameworks. The discussion begins with an analysis of the successes and limitations of the Paris Agreement, including its reliance on voluntary commitments and challenges in ensuring compliance. The subsequent part of the discussion deals with using higher NDCs, sectoral decarburization pathways, and carbon pricing towards more ambitious climate goals. Specific attention in this regard is on linking climate action to the green economy through the space for renewable energy, sustainable finance, and innovation in green technologies. International partnerships, regional coalitions, and non-state actors feature in the paper as avenues towards advancing transformative change. It cites examples of effective cooperation-whether it's cross-border renewable energy projects, green investment initiatives, or another area. The assessment also takes the equity dimension seriously, discussing matters such as the urgency of climate justice, fair financing for emerging economies, and just transition mechanisms through inclusive policy frameworks.