17 November 2017: The UNFCCC has outlined key action commitments made during the UN Climate Change Conference in Bonn, Germany, towards implementing the Paris Agreement on climate change. According to the Secretariat, the common message is that “time is really running out” to get on track both for the Paris Agreement and the 2030 Agenda for Sustainable Development, and that the level of global ambition as captured in the nationally determined contributions (NDCs) must be raised.

Action commitments were highlighted in the following areas: financing climate action, investing in climate action, coordinating climate action, corporate emission cuts and government ratification.

With Germany’s contribution of €50 million and Italy’s €7 million, the ‘Adaptation Fund’ exceeds its 2017 target by over US$13 million.

Financing climate action. Announcements related to climate finance include funds to support the most vulnerable to adapt to changing climate patterns and extreme weather events. For example, the ‘InsuResilience Initiative’ received a pledge for an additional US$125 million from Germany, to support the provision of insurance to 400 more million people, in V20 countries, a group of the most vulnerable countries including small island developing States (SIDS) such as Fiji. In addition, with Germany’s contribution of €50 million and Italy’s €7 million, the Adaptation Fund has exceeded its 2017 target by over US$13 million.

Investing in climate action. This area includes HSBC Bank’s commitment of US$100 billion for green investment, announced before COP 23, and the African Sub-national Climate Fund’s (R20 and Blue Orchard Finance) promise to provide “ready-to-invest projects” and funding to implement at least 100 infrastructure projects by 2020.

Coordinating climate action. Coordination of climate action pledges and initiatives is essential to the effective delivery of the Paris Agreement. The ‘SIDS Health Initiative’ was launched to ensure SIDS health systems’ resilience to climate change. The ‘America’s Pledge’ initiative unites private and public sector leaders to maintain US leadership in reducing carbon emissions and meeting its climate goals.

Corporate emission cuts. Mars Inc. has announced that it intends to reduce its carbon footprint by 27% by 2025, and 67% by 2050. Microsoft aims to cut its emissions by 75% by 2030. And Walmart has committed to deforestation-free commodities to achieve sustainability.

Government ratification. Syria’s ratification of the Paris Agreement means that 170 countries have ratified the Agreement. Six countries, including Belgium, Germany and Sweden, recently ratified the Doha Amendment, making the total number of ratifications equal of 90 countries. In addition, the UNFCCC Secretariat notes that eight countries, including Comoros, Finland and the UK, recently ratified the Kigali Amendment to the Montreal Protocol.

Immediately after COP 23 concluded, the 11th meeting of the Conference of the Parties to the Vienna Convention and the 29th Meeting of the Parties to the Montreal Protocol convened in Montreal, Canada. Sweden and Trinidad and Tobago ratified the Kigali Amendment on 17 November 2017, which brought the Amendment above the 20-Party threshold for entry into force. [UNFCCC Press Release]