Transition to a Low-Carbon Economy Conference of New England - PowerPoint PPT Presentation

Opportunities and Challenges in the Transition to a Low-Carbon Economy Conference of New England Governors and Eastern Canadian Premiers, August 31, 2015 Jackie Janes, Assistant Deputy Minister Government of Newfoundland and Labrador

Agreement to limit temperature increase to 2°C Source: www.nature.com

This means living within the global carbon budget Source: World Resources Institute

Transformation of world’s energy systems is needed Source: International Energy Agency

Positive signs of potential to decouple GDP & GHGs Source: International Energy Agency

Stronger evidence of decoupling in NEG-ECP region Sources: Statistics Canada, Environment Canada, Environmental Protection Agency, Department of Economic Analysis

Growing coverage of carbon pricing

Increasing investment in low carbon technologies

Growing business confidence in a low-carbon future

Need to accelerate transition to low-carbon growth and prosperity Source: International Energy Agency

Scaling up innovation and technological change is key Source: International Energy Agency

Mobilize non-climate goals to promote GHG reductions Source: International Energy Agency

Opportunity to strengthen signal to markets • Over 190 countries to convene • 40,000 participants expected • Post-2020 legally-binding agreement

Conclusion • Strong synergies between policies needed to revitalize growth and improve well being, and those needed to address climate change • Positive signs…decoupling, technological advances, climate policies • States and provinces are key drivers of innovation • Substantive returns on low-carbon investment but more investment is needed • INDCs currently insufficient to keep under 2°C, must be floors not ceilings • Paris is not an end point but it is an important step

Thank You Jackie Janes Assistant Deputy Minister Office of Climate Change and Energy Efficiency Government of Newfoundland and Labrador 709-729-1210 | jackiejanes@gov.nl.ca