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IETA Council Guidance on Net Zero Climate Ambition (Ind. Report)
International Emissions Trading Association
Date: 2020-06-29
According to the Geneva, Switzerland-headquartered International Emissions Trading Association's (IETA) recently published IETA Council Guidance on Net Zero Climate Ambition "the global need for enhanced ambition in response to climate change is reflected in the Paris Climate Agreement. It seeks to inspire delivery of nationally determined contributions (NDCs) that align over time with its ultimate goal of holding global average temperature increases to well below 2 degree C, pursuing efforts towards 1.5 degree C. To get there, it aims to reach a balance of sources and sinks by mid-century. Current NDCs are far from this goal, and they need to move urgently in the 'net zero' direction.

"There is a rich history of companies using voluntary strategies that set carbon neutrality goals for their business operations. These strategies focus on deep reductions and avoidances of emissions, while using verified offsets to compensate for any remaining emissions. But Paris calls on all of us to aim higher -- to reach for that balance in sources and sinks that many are calling a net zero goal. This signals even deeper reductions and increasing amounts of removals," the report notes.

Download the IETA Council Guidance on Net Zero Climate Ambition report HERE. (Source: IETA, June, 2020) Contact: IETA, secretariat@ieta.org, Tel: +41 22 737 05 00 , Fax: +41 22 737 05 08, www.itea.org

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