30 June 2015: Iceland, the Republic of Korea and Serbia have formally submitted their intended nationally determined contributions (INDCs) to the UNFCCC Secretariat, bringing the total number of Parties to do so to 44. According to their respective INDCs, Iceland aims to contribute to European countries’ collective target of reducing greenhouse gas (GHG) emissions 40% by 2030 compared to 1990 levels, the Republic of Korea plans to reduce its GHG emissions by 37% from the business-as-usual (BAU) level by 2030, and Serbia intends to reduce GHG emissions by 9.8% by 2030 compared to 1990 levels.

Iceland’s INDC indicates that its precise commitment will be determined by an agreement among the EU’s member States and possibly other countries, by which Iceland would ensure fulfillment of its fair share of the collective delivery of the 40% target. Iceland plans to continue participation in the EU Emissions Trading Scheme (ETS) and to determine a target for non-ETS sectors by the same methodology as EU States. It notes that if such an arrangement is not agreed, it will determine a national target by other methods and submit the details to the UNFCCC. Of the methods to be employed to reach its target, Iceland notes the need to concentrate on the transport, agriculture, fisheries, industrial processes, waste, and land use, land-use change and forestry (LULUCF) sectors, as its heating and electricity production already comes from nearly 100% renewable energy.

The Republic of Korea’s INDC emissions target is economy-wide, and it indicates it will partially use international carbon credit market mechanisms to achieve its 2030 target. The INDC encompasses the energy, industrial processes and product use, agriculture and waste sectors. The INDC notes a decision on the inclusion of LULUCF will be made at a later stage. The INDC also addresses adaptation, relating actions planned on: climate monitoring, forecasting and analysis; disaster prevention; a stable water supply; climate-resilient ecosystems; climate-resilient social and economic structures; and the negative impacts on health of climate change.

Serbia’s INDC reflects on many of the impacts being felt in the country as a result of climate change, providing estimates of the loss and damage experienced from 2000-2015 and the cost of adaptation measures. It identifies the greatest need for adaptation measures in the agriculture, hydrology, forestry, human health and biodiversity sectors. On its emissions target, the INDC notes that 100% of emissions are covered over the period 2021-2030, for all GHGs not controlled by the Montreal Protocol. Serbia intends to finalize a climate change strategy with an action plan by 2017.

All Parties to the UNFCCC are expected to submit INDCs in advance of the Paris Climate Change Conference, which will take place in December 2015. Those submitted by 1 October 2015 will be included in a synthesis report on their aggregate effect by 1 November 2015. Parties are anticipated to agree on a global climate change agreement to take effect in 2020 at the Paris Climate Change Conference. [UNFCCC Press Release, Iceland] [UNFCCC Press Release, Republic of Korea] [UNFCCC Press Release, Serbia] [Iceland’s INDC] [Republic of Korea’s INDC] [Serbia’s INDC] [UNFCCC INDC Portal]