By 2020 renewables outcompete fossil fuels as new electricity sources
- Renewable energy making up at least 30% of the world’s energy supply by 2020.
- No new coal fired power plants being approved beyond 2020, and all existing coal-fired power plants in the process of being retired.
- Ramp up renewable energy financing to $700 billion.
- Storage solutions become readily available as backup for 100% renewable energy supply.
- All countries have adopted a plan for achieving 100% renewable energy production.
- Markets are designed to enable renewable energy expansion.
By 2020 cities and states are implementing policies and regulations with the aim of fully decarbonizing buildings and infrastructure by 2050
- At least USD $300 billion is invested annually to support infrastructure decarbonization, in addition to the necessary $6 trillion in annual business-as-usual infrastructure.
- New buildings are built to zero or near-zero energy standards.
- At least 3 per cent of the world’s existing building stock, on average, is upgraded to zero or near-zero emissions structures annually.
- Sub-national governments have direct access to international finance and are able to fund climate-investments at a competitive cost of capital.
- Policies and investments in public, non-motorized and zero emissions transport, efficiency, renewable energy and efficient waste management are prioritized in all cities.
- All cities are retrofitting existing building stock as well as establishing building energy codes and encouraging data reporting across new and existing estates.
By 2020 zero emissions transport is the preferred form of all new mobility in the world’s major cities and transport routes
- Commitments from national and local governments that accelerate the exponential growth of EVs to reach 100% of vehicle sales in the 2030s and phasing out the internal combustion engine by 2040 at the latest.
- The world’s major cities commit to zero-emissions zones, including for the use of urban heavy-duty vehicles, public transport, as well as encouraging a shift toward walking, cycling, and electric vehicles for other personal transportation.
- Public transport doubles its market share.
- Aviation emissions per kilometer travelled are 20% below 2013 levels – limiting the sector’s emissions growth to 29%.
- The shipping sector announces plans for market measures or other instruments to eliminate emissions from their sector.
- Transport initiatives such as ZEV Alliance, EV100, EVI, and Transport Decarbonization Alliance align with 2020 narrative and target commitments reflecting 15-20% EV sales by 2020 and ~100%y by 2035.
- IMO regulates operational efficiencies and fuel switching to low carbon synthetic fuels for shipping; and the Arctic Council addresses black carbon.
- National and sub-national governments adopt decarbonization transport policies and commitments from C40’s Deadline 2020, Transport Decarbonization Alliance, Global Covenant of Mayors, and like-minded organizations.
- ICAO and airlines accelerate timelines on operational efficiencies and increased availability/use of bio/synthetic fuels; rail advances and cost effective alternatives to short distance trips.
By 2020 large-scale deforestation is replaced with large-scale land restoration and agriculture shifts to earth friendly practices
- The world’s nations, civil society institutions, and corporations must act to end net deforestation by the 2020s, putting us on a path to reducing emissions from forestry and other land use 95% below 2010 levels by 2030.
- Restore and conserve at least 150 million hectares of degraded land, enhancing biodiversity and building ecosystem resilience.
- Ramp up the implementation of sustainable agricultural practices that reduce CO2 missions, increase CO2 removals, and halt the growth in non-CO2 emissions.
- Coalitions and alliances between governments and the private sector remove commodity-driven deforestation from all supply chains by 2020.
- Coalitions and alliances establish increase membership base with stronger criteria for sustainable agriculture tied with responsible land investment and earth friendly agriculture, such as 4 per 1000 initiative.
- Developed economies and forested developing countries enter into partnerships that scale up international flows for REDD+, focus increases on mechanisms that generate verified emissions reductions, an additional reduction of 1 GtCO2e is financed per year from 2020 and beyond.
- Raise visibility of land restoration in both forests (forest management) and agriculture (soil management), creating a new norm on land use.
- Voluntary markets or other mechanisms for earth friendly agriculture become a viable incentive based solution.
By 2020 heavy industry – including iron & steel, cement, chemicals and oil & gas – commits to being Paris compliant
- Heavy industry firms have developed, published and begun implementing roadmaps for their transition to a decarbonized economy in 2050.
- Heavy industries are increasing their energy, emission and material efficiencies and are on a trajectory to halve emissions by 2050 using science-based targets.
- Energy efficiency is doubled in heavy industry operations.
- Governments where industry is a significant emitter of GHGs set a carbon price.
- All industries have full metering and monitoring of energy consumption.
- Heavy industries have an Energy Management System and a strategy for decarbonisation by 2020.
- Energy intensive industries incorporate reuse and recycling in their path to a circular economy business plan.
- Research and development incentives are created to facilitate the production of solutions to power energy intensive machinery with renewable energy.
By 2020 investment in climate action is beyond USD $1 Trillion per year and all financial institutions have a disclosed transition strategy
- Invest at least $200 billion public and $800 billion private resources in climate action each year.
- Increase the amount of philanthropic funding for the climate movement by ten-fold from 2016 levels.
- Multiply the green bond market annual issuance by ten-fold from 2016 levels.
- Ensure that institutions disclose climate-related financial risks and that credit ratings fully incorporate them.
- Eliminate fossil fuel subsidies.
- Cancel the capital expenditure for expanding coal.
- Implement a carbon pricing mechanism within and across all major economies.
- Sub-national governments have direct access to international finance and are able to fund climate-investments through low-cost capital.
- Development banks (national, bilateral and multilateral) have mainstreamed climate finance in their core-strategies, and all of their new and existing investments are compatible with a 1.5C scenario.
- Risk-reduction mechanisms for zero-emission investments are significantly scaled up, and consequently the cost of capital for investment in climate action in emerging economies is lowered.
- Impact investors prove instrumental to anchor higher-yielding zero emissions projects.
- Institutional investors understand the urgency of climate action and embrace their role in transitioning to a Paris-compliant financial system by aligning their investment portfolios.
FOR MORE INFORMATION …
…on the development of the Mission 2020 milestones, please read the 2020 Climate Turning Point report jointly produced in April 2017 by Carbon Tracker, Climate Action Tracker (Ecofys, Climate Analytics, New Climate Institute) the Potsdam Institute for Climate Impact Research and Yale Data Driven, with support from Conservation International, The New Climate Economy, Partnership on Sustainable Low Carbon Transport, Systemiq and We Mean Business.