December 2009: Angel Gurría, Secretary-General of the Organisation for Economic Co-operation and Development (OECD), has stated that emissions reduction targets outlined in Copenhagen are insufficient.
The OECD estimates that developed countries have declared emissions reductions equivalent to 18% by 2020 compared with 1990 levels, whereas it is currently understood that reductions of 25-40% are needed to remain below a 2°C global temperature increase. Gurría noted that the OECD is investigating policy instruments available to assist national and sub-national governments in setting accurate carbon prices and sending investment signals that will encourage low-carbon growth.
He emphasized that reducing emissions can indeed help economies grow and that methods to measure, report and verify progress of emissions reductions, mitigation efforts and finance will be critical in ensuring that reductions are effective by ensuring transparency and accountability. [The Statement]