Decoupling economic growth from greenhouse gas emissions

The Philippines is one of the most vulnerable countries to climate change caused by the increasing levels of greenhouse gases in the atmosphere. The recently published Global Climate Risk Index 2015, released by the environmental organization Germanwatch, ranks the Philippines as the country most affected by climate change in 2013. According to this report, over 15,000 extreme weather events killed more than 530,000 people worldwide and inflicted damage worth $2.17 trillion between 1994 and 2013. One of these events was Super Typhoon Yolanda in 2013, the strongest typhoon ever to make landfall.

 Each typhoon season costs the Philippines an estimated 4% of its GDP. This is a very high burden for the country’s economy and costs are likely to rise in the future. The New Climate Economy Report 2014 states in clear words that if nothing is done to stop the Earth’s atmosphere from warming by more than 2 degrees Celsius, the world can expect more disastrous weather events. And IPCC has shown that a two degree increase in the world’s temperature would be dangerous, four degrees catastrophic. Unfortunately, this is a likely scenario, unless there is unprecedented global cooperation to bring down emissions. Action is needed now as emissions continue to rise.

We have less than one year left before the Paris Climate Summit in December where all countries will have to agree on a legally binding global deal on emission reduction, our last chance to retain global temperature rise to 2 degrees. By March 2015 the countries are supposed to announce their ambiguous commitments, known as Intended Nationally Determined Contributions (INDCs), a prerequisite for achieving an effectual agreement at the Climate Summit in Paris.

Europe’s commitment to cut greenhouse gas emissions by at least 40% until 2030 compared to the level of 1990 and its target for renewables of at least 27% should motivate other countries to follow the European example. Germany set an even more ambiguous target by committing to reach 40% emission reduction already until 2020. Considering the urgency of the matter, even more ambiguous actions are required ahead of 2030 if we want to prevent the worst. Thereby we understand that the national contributions have to be transparent, comparable, ambiguous and fair. The capability of the less developed nations to meet their targets needs to be strengthened through international support.

The international community has to stand by its commitment to mobilize $100 billion of climate finance annually by 2020. With its recent pledge of 750 Mio. Euro, Germany became one of the major donors for the Green Climate Fund which financial means can be tapped to finance adaptation and mitigation measures. The German funded Global GCF Readiness Programme (GCFit) provides capacity development and technical assistance for the efficient use of international climate finance, and in particular of the GCF to the Philippines.

My government funds an increasing number of environmental and climate protection measures in the Philippines. There are currently 8 bilateral projects on climate change adaptation in the framework of the International Climate Initiative (ICI) supported with a volume of 34 Mio EUR, and the Philippines participates in 17 regional projects with a total volume of 77,6 Mio EUR.

We understand the severity of the situation and the necessity to act. Now is the time to rescue what still can be saved. Amidst all the odds also lies an opportunity for economic growth. Germany as one of the top export nations in the world has proven that economic growth and greenhouse gas emission can be decoupled. Leading international economists within the “New Climate Economy” even state that ambitious climate protection can generate growth and prosperity.

In following the path to a low-carbon economy we will have to overcome many hurdles, but I am convinced that our investment will bear fruits. We owe this to our planet, to our country and first and foremost to the next generation.

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(Thomas Ossowski  is  the Ambassador of the Federal Republic of Germany.)