Increased transparency and documentation of private sector contributions to NDCs

In order to achieve the Paris Agreement goal of holding the increase in global mean temperature at well below 2 °C, relative to pre-industrial levels, and pursue efforts to limit warming to 1.5 °C, every single effort resulting in GHG emission reduction or contribution to SDGs should be measured/monitored and reported. While a number of efforts will take place at national level, led mainly by the government, a number of emission reduction activities take place currently at micro or small scale by private or non-state initiatives. These initiatives are not measured or monitored nor reported yet.

Therefore, accounting every single effort leading to GHG emissions reductions beyond State led NDCs actions is crucial and should be Measured, Reported and Verified or assessed.

The aim of this project is to support the private sector and other non-state actions to be fully reflected in national or international efforts. Transparency systems will be developed to ensure that the private-sector actions are appropriately Measured, Reported and Verified (MRV), both as part of national efforts and to bring credibility to the many international pledges made by these groups of actors. A number of initiatives by non-state actors and the private sector are currently emerging and reporting structures like NAZCA , the Climate Initiative Platform and several other portals have started to collect and organize the important contributions from these actors.

Measuring, Reporting and Verification (MRV) of GHG emission reductions in common and agreed formats will give the private sector enhanced credibility from both the national and international points of view, including in the context of UNFCCC negotiations. Documenting how the private sector and other non-state actors have contributed to the reduction of GHG emission as well as to SD goals and targets will be instrumental in furthering their engagement in the necessary enhanced ambition required to meet the goals of the Paris Agreement and the 2030 Agenda.

Demonstrating how these actors have made and can make important contributions will contribute to creating the foundation for sustained shifts in economic, political, social and technical systems and attract private investors to enhance finance for low carbon emission projects and sustainable development goals.

The expected impact is the creation an enhanced transparency process of private sector and other non-state actor actions in Peru (to start with). This will have impact on the enhanced ambition of especially developing country NDCs as a contribution to the global goals of the Paris Agreement and SDGs.

Overall outcome: National or regional systems have been established to systematically account for non-state actions as part of national and global NDC compliance, through piloting of the systems in a small group of countries.