Source: Small Island Developing States
US President Joe Biden convened the Major Economies Forum on Energy and Climate (MEF), bringing together Heads of State or Government from more than 20 countries, along with other high-level officials. Leaders provided updates on the status of their nationally determined contributions (NDCs) submitted under the Paris Agreement on climate change, and announced several joint initiatives, including, the Global Methane Pledge Energy Pathway.
The virtual event convened on 17 June 2022 to build on the progress achieved at the Glasgow Climate Change Conference in 2021 by “further strengthening climate action” while addressing energy and food security concerns exacerbated by the war in Ukraine.
Leaders from Argentina, Australia, Canada, Chile, China, Egypt, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Nigeria, Norway, Saudi Arabia, Turkey, the United Arab Emirates (UAE), the UK, and Viet Nam joined President Biden in an effort to “further accelerate climate action.” The head of the European Commission and the UN Secretary-General also participated.
Opening the meeting, US Special Presidential Envoy for Climate John Kerry stressed the importance of building on progress made at the 26th session of the Conference of the Parties (COP 26) to the UNFCCC at the Sharm el-Sheikh Climate Change Conference (COP 27) convening in Egypt in November.
Leaders highlighted the need to update NDCs that are not in line with the temperature goal of the Paris Agreement and to submit or update long-term low-emission development strategies. Announcements made during the MEF include:
- Australia submitted, on 16 June, an enhanced NDC to reduce greenhouse gas (GHG) emissions by 43% below 2005 levels by 2030.
- Chile pledged to strengthen its NDC, aiming to bring it in line with the maximum global temperature rise of 1.5°C.
- Egypt is finalizing its updated NDC, which includes “specific ambitious quantitative targets in multiple sectors.”
- Indonesia is in the process of updating its NDC.
- Mexico plans to enhance its 2030 NDC target “in line with the Paris temperature goal” before COP 27.
- Turkey and the UAE intend to submit updated NDCs by the end of 2022.
- Viet Nam will enhance its NDC.
Many recognized the link between climate action and energy security, and emphasized the need to accelerate the clean energy transition and the role renewables play in advancing energy security. Participants announced several joint initiatives in support of these goals.
Building on the Global Methane Pledge (GMP) they launched in 2021, the US and the EU announced a new Global Methane Pledge Energy Pathway. Argentina, Canada, Egypt, Germany, Italy, Japan, Mexico, Nigeria, and Norway joined as inaugural members. The Pathway urges all countries to capture the maximum potential of cost-effective methane mitigation in the oil and gas sector, and to eliminate routine flaring as soon as possible, but no later than 2030.
Canada, the European Commission, France, Germany, Indonesia, Italy, the UK, and the UAE expressed support for the Clean Energy Technologies Demonstration Challenge to raise USD 90 billion in public funding by 2026 for commercial-scale demonstration projects to enable transition to net-zero emissions by 2050.
Canada, Chile, the European Commission, France, Germany, Italy, Mexico, Norway, the UK, and the US pledged a collective 2030 goal for zero-emission vehicles (ZEVs) to comprise 50% of new light-duty vehicle sales by 2030.
Canada, Chile, the European Commission, France, Germany, Indonesia, the Republic of Korea, Mexico, Norway, and the UK supported the Green Shipping Challenge. The initiative encourages governments, ports, maritime carriers, and others to present concrete steps at COP 27 “that will help put the international shipping sector on a credible pathway this decade toward full decarbonization no later than 2050.”
The European Commission, Germany, and Norway expressed support for the Global Fertilizer Challenge. The Challenge aims to raise USD 100 million by COP 27 to strengthen food security and advance fertilizer efficiency to reduce agricultural emissions.
The MEF countries together account for roughly 80% of global gross domestic product (GDP) and global GHG emissions. The Forum convened immediately after the Bonn Climate Change Conference, which ran from 6-16 June 2022. [Chair’s Summary of the MEF] [MEF Fact Sheet]