Date: 15 November 2024
Time: 11:30am to 12:30pm AZT
Location: Multi-level Action & Urbanization Pavilion
Organizers: UNEP, UNDP, NDC Partnership, in collaboration UNFCCC secretariat
Co-organizers: BuildingToCOP, UN-Habitat, UNEP and UNDP
As national governments look to shape NDCs next year, this event shows how sub-national action, bolstered by multi-level coordination, can unlock private finance toward a low-carbon and resilient built environment.
Background:
Global GHG emissions hit a record high last year, rising by 1.3%. To limit warming to 1.5°C and avoid severe climate impacts, emissions must decrease by 9% annually through 2030 (EGR, 2024). Vulnerable communities are already bearing significant costs. Current policies could drive a devastating 3.1°C temperature rise this century, a burden the planet cannot afford.
Immediate, accelerated action is essential. The next Nationally Determined Contributions (NDCs) offer a final chance to keep 1.5°C within reach. National governments need to maximize NDC ambition, aligning targets with the 1.5°C goal while considering their unique contexts. There is substantial potential for broadening emission reductions across all sectors—energy, agriculture, forestry, industry, buildings, and waste.
Among these sectors, the built environment is a critical climate solution that impacts everyone, everywhere. Our built environment protects us from rising temperatures, storms, and floods. It provides 40% of the solutions we need to double the rate of energy intensity improvements. Yet, the sector remains responsible for 21% of global emissions.
Achieving 2035 mitigation targets requires clear sectoral transition pathways, concrete policies, and defined financing needs, giving investors clarity and certainty. Those sector-specific national targets will be achieved only when subnational authorities - cities and regions - are actively engaged and they, first, set clear, sector-specific targets and play an active role in shaping national NDCs; and further - implementing the national action plans.
However, as the regional consultations on NDCs conducted jointly by UNDP, UNEP, UNFCCC and NDC partnerships during 2024 demonstrated, there is still low awareness among the countries, cities and regions; and there is insufficient capacity for engaging in developing NDCs.
Bringing together sub-national leaders and private finance, this event will explore how sub-national action, bolstered by multi-level coordination, can promote implementation and unlock private finance toward a low-carbon and resilient built environment.
