Assessing the positive impacts of climate action, an approach which considers the broad spectrum of social, economic and health benefits, has increasingly gained global recognition. This is due, in part, to the insightful work done by the Global Commission on the Economy and Climate. On this platform, Christian Friis Bach from UNECE noted on February 2016: “Taking into account such co-benefits can radically change the picture and demonstrate that action can pay off, not only in the long term, but also in the short to medium term.” With the Paris Agreement recently ratified by the European Union (EU), what is the potential of the benefits approach for achieving these new commitments in Europe?
To ensure that Paris will be a sustainable success, active engagement is required to fully implement the INDCs and to ratchet up ambition in the coming years. Catalyzing the climate economy will be the key to accelerate the path towards a much-needed climate-friendly trajectory.
In close cooperation with the Climate Action Summit, the European Union is organizing this flagship climate action event to highlight and promote the green economy as a formidable transatlantic opportunity for economic growth, innovation, and climate action.