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Accounting framework for the Post-2020 period

image of Accounting framework for the Post-2020 period

Accounting rules and procedures will dictate how progress is tracked for various possible types of mitigation contributions that might be included in the 2015 agreement and how their achievement will be determined. Without such rules, it will be difficult, if not impossible, to accurately track progress toward individual contributions as well as towards limiting warming to 2° C or below.The report explores the components of a robust and rigorous accounting framework, lessons learned from existing accounting frame-works, and how such a framework can be developed for the 2015 agreement. The objective is to support the establishment of a sufficiently robust and rigorous common accounting framework for the 2015 agreement, including accounting rules for international transfers of units from marketbased mechanisms and the land sector.

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Foreword

Parties are now in a process of preparing their intended nationally determined contributions (INDCs) for the new 2015 climate agreement. For a successful 2015 agreement, Parties need to formulate commitments or contributions sufficiently in time before COP-21 in Paris in December 2015. It is necessary to understand the effects of Parties’ mitigation contributions in relation to the 2°C target. This can only be done properly with the help of common principles and rules for accounting. Robust rules will help to increase transparency and help Parties to understand each other’s contributions for the 2015 agreement and later, progress in the implementation.

English

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