{"id":7555,"date":"2023-01-11T16:37:54","date_gmt":"2023-01-11T14:37:54","guid":{"rendered":"https:\/\/climatetrade.com\/?p=7555"},"modified":"2023-01-11T17:19:59","modified_gmt":"2023-01-11T15:19:59","slug":"5-climate-change-priorities-for-2023","status":"publish","type":"post","link":"https:\/\/climatetrade.com\/5-climate-change-priorities-for-2023\/","title":{"rendered":"5 climate change priorities for 2023"},"content":{"rendered":"<p><span class=\"title2post\">A new year is beginning, and climate action expectations are high. As our window to act becomes ever smaller, what should be the top climate change priorities in 2023?<\/span><\/p>\n<p>ClimateTrade prides itself on being at the forefront of climate action: we regularly publish insights on the latest trends and participate in global events gathering the world\u2019s climate leaders. As such, we have analyzed last year\u2019s climate developments to predict what should be next in 2023.<\/p>\n<h2>Align corporate goals with science-based targets<\/h2>\n<p><span style=\"font-weight: 400;\">More companies than ever (about one third, or 34%) have published official decarbonization targets to tackle climate change. Some are focused on carbon neutrality, others on net zero and others go as far aiming to become carbon negative (absorbing more emissions than they emit). But too few of these targets have been audited by third parties for feasibility, and even fewer are aligned with the Science-Based Targets Initiative (SBTI), a standard created to ensure that corporate targets actually contribute to the goals of the Paris Agreement. This is leading some experts to predict that 93% of the companies with a declared climate goal <\/span><a href=\"https:\/\/newsroom.accenture.com\/news\/nearly-all-companies-will-miss-net-zero-goals-without-at-least-doubling-rate-of-carbon-emissions-reductions-by-2030-accenture-report-finds.htm\"><span style=\"font-weight: 400;\">will not be able to achieve it<\/span><\/a><span style=\"font-weight: 400;\">. Today, <\/span><a href=\"https:\/\/sciencebasedtargets.org\/reports\/sbti-progress-report-2021\/progress-data-dashboard#datadashboa\"><span style=\"font-weight: 400;\">834 companies<\/span><\/a><span style=\"font-weight: 400;\"> around the world have SBTI-aligned targets. Increasing this number must be a top priority in 2023 if we are to ensure the feasibility of climate goals and hold companies accountable for meeting their objectives.<\/span><\/p>\n<h2>Finalize Article 6 of the Paris Agreement<\/h2>\n<p><span style=\"font-weight: 400;\">Since the Paris Agreement was signed in 2015, governments have been working to define a new framework for international carbon trading within its Article 6. At COP26 in Glasgow, negotiators <\/span><a href=\"https:\/\/climatetrade.com\/top-3-article-6-questions-that-were-answered-at-cop26\/\"><span style=\"font-weight: 400;\">settled certain points<\/span><\/a><span style=\"font-weight: 400;\"> on how to avoid double-counting (a carbon credit being claimed by both the seller or host country and the buyer), which projects from the Carbon Development Mechanism (CDM) would be able to be transferred to the new system, and which Article 6 transactions would be taxed.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But last year, they made <\/span><a href=\"https:\/\/climatetrade.com\/top-5-carbon-market-developments-at-cop27\/\"><span style=\"font-weight: 400;\">less progress at COP27<\/span><\/a><span style=\"font-weight: 400;\">, instead pushing deadlines until COP28. So with only two years left until carbon credits begin to be issued under this mechanism, 2023 has to be a productive year for Article 6, in order to formalize the international trade of emissions reductions.<\/span><\/p>\n<p>\u201cTransparency, justice, consensus and interdependency, these are the pillars for the successful execution of Article 6 of the Paris Agreement. Let\u2019s keep in mind that this is arguably the most ambitious article for climate action, since it manages to involve the private sector,\u201d says Jos\u00e9 Lindo, Co-Founder and Head of Impact at ClimateTrade.<\/p>\n<h2>A tipping point for renewable energy<\/h2>\n<p><span style=\"font-weight: 400;\">In order to meet the goals of the Paris Agreement and keep the global temperature increase below 1.5\u00baC, energy investment needs to reach between US<\/span><span style=\"font-weight: 400;\">$40.2 and US$114.4 trillion by 2050. But the balance between low-carbon technologies and fossil fuels must shift. <\/span><a href=\"https:\/\/about.bnef.com\/blog\/investment-requirements-of-a-low-carbon-world-energy-supply-investment-ratios\/\"><span style=\"font-weight: 400;\">According to Bloomberg New Energy Finance<\/span><\/a><span style=\"font-weight: 400;\">, the ratio of low-carbon investment v. fossil fuel investment went from 0.5:1 between 2011 and 2015 to 0.7:1 for 2016-2020, and finally, 0.9:1 in 2022. To date, renewables and other low-carbon energy technologies have never received the same level of investment as fossil fuels, despite ambitious global targets that would require massive divestment from fossil fuels. BloombergNEF points out that by 2030, this ratio should reach roughly 4:1, \u201cmeaning for each dollar invested in fossil fuel energy supply, four would be invested in low-carbon energy supply\u201d.\u00a0<\/span><\/p>\n<p>What if 2023 was the first year investment in low-carbon energy equaled that in fossil fuels? It\u2019s about time we achieved this tipping point.<\/p>\n<h2>Increased focus on biodiversity protection and regenerative agriculture<\/h2>\n<p><span style=\"font-weight: 400;\">One thing has become clear over the past couple of years: climate action is about more than just carbon. Last year, biodiversity took center stage at climate conferences, and the world seemed to awaken to the importance of protecting nature and all its diversity in order to maintain the balance of our planet. ClimateTrade commercialized <\/span><a href=\"https:\/\/climatetrade.com\/climatetrade-and-terrasos-jointly-promote-voluntary-biodiversity-credits-to-support-biodiversity-conservation\/\"><span style=\"font-weight: 400;\">Voluntary Biodiversity Credits<\/span><\/a><span style=\"font-weight: 400;\"> developed by Terrasos, and the initiative was <\/span><a href=\"https:\/\/climatetrade.com\/wef-recognizes-voluntary-biodiversity-credits-potential-to-unlock-financing-for-nature\/\"><span style=\"font-weight: 400;\">recognized by the World Economic Forum<\/span><\/a><span style=\"font-weight: 400;\"> and in the media.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In 2023, we hope that this focus on biodiversity will increase and take different forms. One of them is the implementation of regenerative agriculture, a type of food production that restores soil health and protects natural ecosystems. The European Union is increasingly focused on this method (also called carbon farming), and we at ClimateTrade are dedicated to making it a reality: we have teamed up with Azolla Projects on<\/span><a href=\"https:\/\/climatetrade.com\/azolla-projects-and-climatetrade-run-first-eu-aligned-carbon-farming-pilot-in-spain\/\"><span style=\"font-weight: 400;\"> the first carbon farming project in Spain<\/span><\/a><span style=\"font-weight: 400;\">. Let\u2019s renew our commitment for the coming year.<\/span><\/p>\n<h2>Large-scale development of ocean-based solutions<\/h2>\n<p><span style=\"font-weight: 400;\">Finally, our fight against climate change should take us to new territories, or more specifically, new oceans. Blue carbon is the absorption of CO2 in coastal ecosystems such as peatlands and mangroves, and it has enormous potential to help us meet our climate goals. <\/span><a href=\"https:\/\/www.weforum.org\/agenda\/2023\/01\/4-ways-to-unlock-the-power-of-blue-carbon\/\"><span style=\"font-weight: 400;\">According to the WEF<\/span><\/a><span style=\"font-weight: 400;\">, restoring coastal ecosystems could result in a return of US$11.8 billion in carbon finance and 380 million tons of carbon sequestration by 2040.<\/span> <span style=\"font-weight: 400;\">But it needs to be scaled up. ClimateTrade is doing its part to help develop more supply of blue carbon credits: last November, we launched the <\/span><a href=\"https:\/\/climatetrade.com\/climatetrade-and-ce-rs-launch-the-albufera-blue-carbon-project-albluefera\/\"><span style=\"font-weight: 400;\">Albluefera Project<\/span><\/a><span style=\"font-weight: 400;\"> with CE\/R+S to store carbon in the wetland ecosystem of the Valencian Community. We expect more projects like this to be developed in the coming year.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As our window to act becomes ever smaller, what should be the top climate change priorities in 2023?<\/p>\n","protected":false},"author":27,"featured_media":7556,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[86,80],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>5 climate change priorities for 2023 - ClimateTrade<\/title>\n<meta name=\"description\" content=\"As our window to act becomes ever smaller, what should be the top climate change priorities in 2023?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/climatetrade.com\/5-climate-change-priorities-for-2023\/\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"5 climate change priorities for 2023 - 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