Developing countries’ actions targeting renewable energy and energy efficiency could reduce CO2 emissions by about 1.7 gigatons a year by 2020, says a report from 1 Gigaton Coalition.
The report, released at COP21 in Paris, also highlights potential for further reductions. It was compiled based on the projects implemented between 2005 and 2012.
After the COP21 negotiations, the level of green energy financing is likely to increase, and the 1.7 gigaton figure would be expected to grow in the future, the report said.
This would assist in closing the emissions gap, which the UNEP Emissions Gap Report 2014 estimated at 8–10 Gt CO2 equivalent by 2020.
Commenting on the results of the report, UNEP executive director Achim Steiner said, “The potential of increasing renewable energy and energy efficiency in developing countries to tackling climate change cannot be underestimated.”
“But not only do these energy projects move us toward closing the emissions gap, they are also vital for many countries’ social and economic development,” Steiner added. “As we accelerate climate action in Paris, I hope to see all parties work together to increase the ambition of what can be achieved.”