The existential threat of climate change, and the interlinked biodiversity crisis and the multiple impacts of both, including on people, must be addressed as a core economic challenge. This requires broader whole-of-government strategies to achieve strong, sustainable, fair and resilient growth. In doing so, governments will have to manage a complex political economy of reform and pursue a transformation that creates opportunity for all.
The OECD supports and helps drive higher levels of ambition and tangible outcomes – on mitigation, adaptation and resilience, and financing – that better align with the collective goals of the Paris Agreement. This includes enhanced support for climate action in developing countries, including in the least developed and most vulnerable countries which are heavily impacted by climate change, yet lack access to tools required to support a transition to net-zero emissions.
The Inclusive Forum on Carbon Mitigation Approaches (IFCMA) is an initiative designed to help improve the global impact of emissions reduction efforts around the world through better data and information sharing, evidence-based mutual learning and inclusive multilateral dialogue. It brings together all relevant policy perspectives from a diverse range of countries from around the world, participating on an equal footing basis, to take stock of and consider the effectiveness of different carbon mitigation approaches. The first meeting of the IFCMA will take place in Paris on 9-10 February 2023.
Accelerating the net-zero transition while protecting the most vulnerable communities and economies.
Adapting our economies and communities to cope with the immediate impacts of climate change and prepare for the future.
Making finance consistent with low-emissions pathways and climate-resilient development.
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OECD countries still rely on fossil fuels (linked to the production and use of coal, oil, gas and petroleum products) for about 80% of their energy supply, notably for industry and transport that are the largest emitters of greenhouse gases (GHGs). New OECD data show that total fossil fuel support in 44 OECD and G20 economies rose by 10% in 2019 to USD 178 billion, ending a five-year downward trend and undermining global efforts to mitigate climate change. As governments design stimulus measures for their economies, they should seize the opportunity to redirect fossil-fuel investments into green and sustainable energy production. |
