*./"$KJ K
OLHIKQWTVQVSPUVR" !%" !& !% MGNXY
3D;4A91),)-20)1862>9E6AB9CF?71?;F?
+=49<'FD;4A9C4;4=DA4(9A#BDC?;F?45:@1• COP24
• COP24
• 
•  

2

)

(<7

• 1992 ,GQJLZTCGQJL[`4& %0$/Z]__^. [• 1997 COP3Z53[`53!Z2005. [• 2010 COP16ZDVEV3[:DVEVZ2020=;<8
UXU[• 201512# COP21ZMT3[`MT• 201611#4 MT.
• 201611# COP22ZPSFHR3[aMT<" <2/
3ZCMA1[• 201711# COP23ZNAIX/OV3[• 201812# COP24ZDLWAKB3[aMT<UXU• MT<21+'– 183D\EU:9-<#4*[

6<89Y@>?Z20191
3 

a
W|
Jf

1992







a
W|

uC
1994

_YIdxjDb} [h{wg\8z^i
nVILA8z



:o
9iT
Jf

:o
9iT
uC

:o9iT
e2|b7412005

2008-2012

:o9iTe2|b74
M2 I5_
YInVI2020t
LA{wEq..
^i

16
!/"
/
H1

2013-2020

 syM2

1997

2020t0F`I
M2Xa2015t21H1r>?i2020tLA{wEqW|Oz=m~QN syBPl{w
2005tpv3.8Am~
2013t11@2010

17
$'
*,%&
) +?i
2011

21(-;iJf),/#(-2015

(-;iQNSk3<UK\Z6GcR]

+China
133W[38W[


HQ2Sd"GR)a[$V="QH,SI/%2"QE""S2&R"28W[/O"G#2c

48W[

9BS5UOV]bc
BV,Q;1P@CSc'8(F"5MR"c"VHTQ,SI"NR))>7(3<QR"eh?P2Q
V=U1"%+Q$>
AS%&)0G36Vd"GR)-?"c LRE"*PB?)Q,"J@4'Q
"GR),SI
54W[
8R.UVE".36R)KS
C>M,":MQ
3$3Y[N*1.
RD:V1P6$VO>.

g_Z^,SI` [\fX!

¡ª!.Rvw.

vw.

I°.n³1N´°a`³2N´°"³3N´!.a`(6`2(FD
7v9

AXc³4N´°QOREDD£©³5N´4*¥ ¤³6N´

MaT#(aT³C/?/(Bm/J´naTN3^ FD:)CnaTCLM°LPM Yh;]
QOREDD£©4*¥ ¤

8³7N´°E+E0³­ &¥±´³8N´\8aT!~#(8y[/Jn®«¦®(¥ ¤­²¥±ZxWFD~

³9N´(FDn(q_`FD:)Cn¥ ¤>t_°b³10N´\¢¨¯>t¥ ¤>tPipSe³11N´°Go°r{|%³12N´a`"FDC )&ils°FDK9³13N´#(s°FD@)&¬¢§± @z ³14N´ @z a`d'20235,55z #(aT/J -³15N´/J -<jilil³16-19N´

kf(}³CMA´uU1_v³20-29N´_v³=(HA$´gxV
6lw}• v5;k#0cuR1@OH.hb
• E9Av<$c,=jQ/<2– 37+v2℃v ku48k"V1.5℃l<2– ?lW& J| XWE9AX• 5lzwyl<2\_x~{ratchetupx~{
–lM%F vaU[rtTY6<2v'
cu`hgUQ/<2kLeYfY]Cn• & 6d^gj]U7-l!SmlN UI
Pjil*)>pou• Dg\oBqZj: GZslK(7

pVi¡I_M• %d pVi!I_M±«¦­°¡Dau*– /LO\0&PTC¡2℃¡$
QU;³µ2℃_M´1.5℃; – h4T,J£§W^@W^"¡&r 7|Sµ@¡+z¨¯– IPCCfNv '#GHBe)^`t¡%d +Y¡_>{±«¦­°¡c• XTF93o2%±3¡l:• “No one left behind³wk´”µSDGs³=jn
]._M´mE Z6^AK– P (;xq¡ } Da_M5s8•%-g}?>~ LR<y¢ª¬²¥­° ¥¤©®¡• 1by[³stranded assets´8stranded assets%, 50 + *)(  !&- '

%, 80 + *)(  !&- '

 " (C)
50% +probability

3

356

2.5

319

 "(C)80 +probability

1541

762

3

319

2.5

281
762

2

269

2

225

1.5

131

1.5

−

# %,1541

 %,

# %, %,$Carbon Tracker and LSE, 2013m( 7my}
• nW>2w#b* bWO#l^h )Ew+cu`jwcphm Mm6=Fjcu• >2lSbhm0^– NnC( Q>2wA/cuKXLr,Rjjr
lefsl@GV" =;V
– 3m>2nem,memm>2w`Zurmik^voksdWem[i\u-rUY758ik^vokskY403
progression/no-backsliding!%t?4j-U58m7– 5{xz m.=k>2 \_~|Ratchet-up
mechanismwE]• 2050Tw> jcu9B<$:w#bW* cuK
4019X2020qil* HJ1/CP.21
• 2ajlm>2jemN'lgYh1Icu&D• PNmy}

10)(ratchet-up


2030

/

2025'  ;68?! @9


2025

-

2026

2020

2021

)(INDC#

2016

2017

2018

2029

0 !2
"&

2022

2023

2024

. !1"& 8/5 - >34 7+>34 -,=

2015

2028

2020'  ;68+ 9 :
9>3+ 9 :
 9>.0;4: $19 278 

+

2027

"+("+" %2019, $ *
9*'8/4&9#379 9)94<

%Carbon Brief2016 

COP24XCKPJB/Y=*859#'%• 20182020=1,ZOU = <57 9=$• OU - XVWVQIDY• 2020='! 9'!46SCLG
R– 2018=HTNA.X0&.Y• (3QTEV;:= • +"?PEMF;:=2=@)>12

2020 YUXJ<
2017
1-6+

2017
2018
7-12+ 1-6+

2018
2019
7-12+ 1-6+

2019
2020
7-12+ 1-6+

2020
7-12+

COPGM

r[b}

s}x{l

hy

D4TX~

G7GM

\fyZ

`mg

rx{c

=

G20GM

l\jZze{h{(-a]bZxqZ

UNFCCCLG*py

|COP23fxoZF|COP25|IPCC5
48 
*R
|
8 
*~9+

|COP24py'E 6

|py
'E
"
|IPCC1.5
!8 
*~10

|>.B0~INDC&,P|2050 M,7?
$9& ,P|COP26+|One
Planetatik~py|12+

IWVX
S

X /
WV

|=py
AH
C)~6+

|`yr^
znZ3
atik

|w{ky
_}zG
*HFCE
N~1
+

|=O
K%~11
+

|2G
K%

|I3
atik~9+|CBD COP15 sck#;:1~|ICAO v`nduN
~
|=@
QK%~11+
13ÐÕ.®/KA ¬f
ÞP n

NDC®a8ÛÞP®ffR®.i~f ¬«ÜLg<ÙL<Ùdu ®¤²®=)Û\fR4O0zÀÄ ¬«Üº¿½ØÊ»ØÂÛIPCC­(§¡GHG®j.JYàP´%&ÆÁÇÚ ¬«ÜáP ::)NÛ)Û

ãU+­µ¸7ªr6<®xÜ ¬«ÜàP 2*Ô¿Î eºÒ×ÚÈÛJCMÇ¼Òº¿½ØÊ»ØÂ®JYvS ¬«ÜÅÓ$kd'2*Ô¿ÎÅÓÛCDMÇ¼ÒÖÚÖ?m ÀÏÍØÄ ¬«Ü2*ºÒ×ÚÈ
âP |

|GF­£¸]q¬=)®EÛâPßÜ
Û:(¬« U|®¿½ØËJYÛU|®.p®t iÜÛâPáÜ.­ o§¢¶¹
:(ÛÐÕ.­31£¸MO{^ÀÏÍØÄ ¬«Ü¨¬|[/KA®0z­¯¬¥¨¬³®®Ý20254­h¦ÝI¤¬|f·Ü
R®w.³$¶®9ÛcM`®fRã20204¶20254±©
T41000ÌÖÜ
13P L<JY?m °AÛ$­0£¸Q}<®GHGD®(_4´JYyNDC®CbX:GF¬«Ü

14P Â×ÚÏ =)^ÛIPCC)NNDC®/KbX:®/KbX ¬«ÜÖÙÄËÉÁÙÊ¼ /KJYÛ¼ØÒÉË®@seÑ¾ÚÅHWeÑ¾ÚÅ ¬«ÜÁ
15P /KÙ
-/KÙ -,! ®Zl#ÛÄÃÚÒ´=)^ ¬«Ü,! "­¸?m ÛB´5Ý>;V.JY ¬«Ü 14

24 ,565310,• 24 "7Paris Agreement work
programme (PAWP)8• 24 ,565310&'),%– 24 +%(/$7APA8• COP24, *APA,- – +%(/%7SBI8–   .!+%(/%7
SBSTA8–  #7COP815COP241• 1/CP.24 overarching decision• Matters relating to Article 4 of the Paris Agreement andparagraphs 22–35 of decision 1/CP.21 “Further guidance in relation to the mitigation section ofdecision 1/CP.21” (FCCC/CP/2018/L.22);–“Modalities and procedures for the operation and use of apublic registry referred to in Article 4, paragraph 12, of the Paris
Agreement” (FCCC/CP/2018/L.8);– “Modalities, work programme and functions under the Paris
Agreement of the forum on the impact of the implementationof response measures” (FCCC/CP/2018/L.17);–•

Matters relating to Article 6 of the Paris Agreement andparagraphs 36–40 of decision 1/CP.21(FCCC/CP/2018/L.28)


16

COP24 2• Matters relating to Article 7 of the Paris
Agreement and paragraphs 41, 42 and 45 ofdecision 1/CP.21 –  “Further guidance in relation to the adaptation
communication, including, inter alia, as a componentof nationally determined contributions, referred to in
Article 7, paragraphs 10 and 11, of the Paris
Agreement” (FCCC/CP/2018/L.21);–  “Modalities and procedures for the operation anduse of a public registry referred to in Article 7,paragraph 12, of the Paris Agreement”(FCCC/CP/2018/L.9);–  “Matters referred to in paragraphs 41, 42 and 45 ofdecision 1/CP.21” (FCCC/CP/2018/L.14);
17

COP243
• Matters relating to Article 9 of the Paris Agreement and paragraphs
52–64 of decision 1/CP.21 – “Identification of the information to be provided by Parties inaccordance with Article 9, paragraph 5, of the Paris Agreement”(FCCC/CP/2018/L.15);–  “Modalities for the accounting of financial resources provided andmobilized through public interventions in accordance with Article 9,paragraph 7, of the Paris Agreement”;–“Matters relating to the Adaptation Fund” (FCCC/CP/2018/L.11);• Matters relating to Article 10 of the Paris Agreement andparagraphs 66–70 of decision 1/CP.21 “Scope of and modalities for the periodic assessment referred to inparagraph 69 of decision 1/CP.21” (FCCC/CP/2018/L.3);–“Technology framework under Article 10, paragraph 4, of the Paris
Agreement” (FCCC/CP/2018/L.7);–

18

COP24 $4%
• Matters relating to Article 13 of the Paris Agreement andparagraphs 84–98 of decision 1/CP.21
&" –  “Modalities, procedures and guidelines for the transparency
framework for action and support referred to in Article 13 of the Paris
Agreement” (FCCC/CP/2018/L.23);• Matters relating to Article 14 of the Paris Agreement andparagraphs 99–101 of decision 1/CP.21!# & – “Matters relating to the global stocktake referred to in Article 14 of
the Paris Agreement” (FCCC/CP/2018/L.16);• Matters relating to Article 15 of the Paris Agreement andparagraphs 102 and 103 of decision 1/CP.21– “Modalities and procedures for the effective operation of thecommittee to facilitate implementation and promote compliancereferred to in Article 15, paragraph 2, of the Paris Agreement”(FCCC/CP/2018/L.5);
19

 "[mitigation\FSPVYU
F'[1\• NDCE-<KINRQYWOYTE@2
AI/+/*F D8/CF%$I/M<K& 71J/NRQYWOYTFXZXE2/)<K& 71K• NDCF,# 7Mitigation?9DF6B23
E D !M4K(GD27/NDC
E-<KINRQYWOYTIMitigationE-<K/NRQYWOYTME=L>LF.7HA2K0D5/Para. 8G
mitigationFFM:D2B;A2K
206@=CGB6!I2J• NDC5&-9 8;?>GD<GA51)
28'++3 -9@=CGB72I2025 JNDC4.66NDC5$(1I2020 JNDC51)27I/0,
 5&-9@=CGB51)27*J•  5&-9@=CGB8;?>GD<GA5&-9@=CGB8' 2027 6EF 6
ICMAJ103",% '2028 6
CMA113#H :
21


•

&ENMPQOE)!R3S8<KNDCD?6@- $C9
L">=4Features5ENMPQOD?6@F C;– 2024ECMA7A- NMPQOE*L'(Rpara. 20SB;@6K82CMA8<KD?6@H8C63D2024DNMPQOD ;=
B;@I2/#F2030 NDC7J7T• .E0D?6@I C;32025
D%L <72B6>=NDC+E
0$CL+<K:BL<K,1
– 20196ESBIA'(,FGKD;@I2CMA
8<KD?6@H8C622

qbfz• 60
– FBdJ;p }Kago}'M601i_>2V&qfmr];AQda ~
cooperative approaches}ozr0}uz602• )EHp:rT_8 %oR/%r@_"p~ _oy|f rXr@– ql`msCMA1n,(• JCMcxr}r>2V&q 9jzgod];q'
Mh{zUdnekr]q#agod0• r+ZrSDvNopyaz–

6o)EHp.-qO7jzrLG604
• CMAd*jz3[qwy=?CDM likep
– ql`msCMA1n5607

•  r\4605
• Yr <}I!rW$P9.-q606– ^~r1CtvLG609
23

 SEOKR:•+!9;>62:FBLVJ,64:%:#– 962:FBLVJ:#• LPTECVMAVH*:3;:TWT–:"):LPTECVMAVH– 62864:LPTECVMAVH– UNFCCC::8:LPTECVMAVH• (&:,9CDM: =.
– :QUIDGN: =.
– $2?3X $2?>Y: =.

• ' <"@4,/5
7:TWT61="07->

24

6243576.26.4688
• 1)COP24*& )-%+("0• ).!+0'/ 1 #'
2019*CMA2($/,SBSTA 
17para. 38

25

8mL.23n[2'm1n
• :

W9

[

[YET[0^– RSNC1Z(bNU2WYd9 Z\C8[klkmMPGn[`d. V 7JGbed• O]U[9 V\YED1Z#L9 [^• 7JGbed9 IXFI\CPeQe[9Jmself-determinedn• ;*Od3C1[#C1 Z2Y?Z
TEU-+Z-OMWJ2• RSNC 7Z@Od9 [%C1[$&ZTE
U\C>!hlj\!fNYE• B8 ZHEUCVKdAcC Od<Z@Odf,cM_]Kmshouldn– IId\C>![6Z\YbYEJC Od
<ZTEU>!hljW[54a1"/[ilg[)[=WYd
26)KL.23L>&$K2L• /)––EIGIFHJ>KshallL%"KNDCL>;,>+D('8B>=&<>KshallL– 7!= :5#0@-=.8B
>KshouldL– + ?113!9>=.8BDK
shallL29>> ?33BD8A4K
shouldL– * ?1&;7C 6B=.8B
D8A427

5!VL.23WL1(V3W• :$VTechnical expert reviewW– :$H0>@I• L3
• NDCL I7L%2• ;CQ <CQL%2
• 13"L K;CQ L9L*
• / K)PBG1J6 KF=G</ &-LTUS
L*NL– :$H0EGMJPJ=@I• ',• NDCL AODM8AL$• .L AL$• CQL AL$• / K)PBG#4?1IJQ6 KF=G<#4
R8+CQ
28

+KL.23L>*#K4L• -

KTechnical expert reviewL>!

– / Kcentralized reviewLM >/%<;E – $  Kin-country reviewL– 0K,.L Kdesk reviewL– DIGIFHJ>&' Ksimplified
reviewL• 5 C)217>(C 6B•

%=?/

40

– >*K3@>.+ L
C"86A>=92:?1$ 29/VL.23WK+&V5W• 0J5BO0(I 4#,V
Facilitative, multilateral consideration ofprogressW– -L:9!J E?GNDCK M1– APCG2" IHQ#,
– 2%6<NIOX87K.')%6:9SBIJ3APO$RTUS %6– 2" =CNF>OD@?*;30

8 ;7%2020KSM 2 
201411


KR$02KI BR
4KI%PR$0COP17

(!SM 4R5>G.KSMC:,D

(!SMC:# 7F 4R2020K2030KL-U?Q
H3%)
(!SM/+*"N9I%JSMO/+
A %J=ER$1V

IAR

COP17
'B

<T6&→6&R$0



COP19


SBI@%N
31

" '  NAMA  

&
NAMACOP17%

!%COP19

(

MRV

&

MRV
BUR

ICA

&
 NAMA(

MRV

BUR
COP17$+)#→-,*

SBI

BUR

32

15?n$§L.5¨aK•

oi%=n$# Gv# D45X! 
{v mQ1A0gv,^0Q1A¦F[
• ,^0VcIF[6Fsz%§para. 4¨•s'E+p©#EtR)Q/• NDC¦29>L\Q# Cd)jvNDC¦2
({s 3 Cd)j{w xp!
vWXQ]sByx mQCdy§para. 22§b¨¨• # 29 "§para. 35¨•#f8Z

mQ• ~&e%P_%`Q1Ae|{}•.u§systemic issue¨Cd• ;: ¡£¢uCd

•

z

[NJMO3Yl b%•  v@k1v¤¥%7q%Ue•*r'-HT¨

5XsE{<S§#

ah

33

M30aGlobal Stocktake;
GSTbaL.16bM-$a1b• []M&%JEM6 &"M5L A
F8 %K3Q0DPFNLM
0astocktakebQ %L*?
• 9 8J#<:+%0<;RTZ\Y
ZM!.J>?I*?
• SBIJSBSTA@,BH*?=Q/( MW_X
UZV^`\• 7LOPS_\YZM!.Q2CF<7%1atechnical dialoguebQ*>< MW_XU
ZV^`\QDP– (J JLG>HEM4'I)
34

GSTML.16N>(M2N• &*C%3GIFKL>19 >GIF
KL;/7OCMA6M2023N=92GI
FKLMIPCC> '>HDJLE;
3GIFKLN%3• > =C#4<21=$:6A@3<)?%B<2• GSTC-=0NDCC0 , !.5/
8A =8A@3"=(+35

95O"%<&FD P<&3D=!• 95<&3D>( <(219<
$ /3D91?93<&FD"%<&3D =C,94=JHLNIGAD•  = >( <KM8 25
 G#.7,;,)<(="%='<6,7= >*as available+O4-,- / ; <P3D09/
ABED<9:@D36

% (?)5E @!
• % (A,LO 64@@&Pshareof proceeds; SOPQ0D@$(1 <>86*;,'" H+F:LO @)<>E• % (?A,LO 64@SOP0D$(14FE-JCM>=1#<>E7G/62@
?9.:A,% (B@$(@#<>D>.
• CDM>='" @ NIKJM0D@$(ALO @? C22% (
1 3E
37

#) >L.10?+• 9;+,2025-'*1000
8<0("/ #) 0
"/>1/CP.21, para. 53?!(*)$&/• 2020+CMA3. 0"/!(0> para. 1?
– 201812 14  +6247*,!++51:=3*%&,)$#38

`hhCOP24h8W• .Q!
– :g7h& VgFfOdh?7Mpslow
onset eventsgS^s;hXD$hX<N^s|xt(#
tobc=' para.13
– ^lchEBgqr+
9jP"h1ThtA^sangQ!h\_sD$%tK para.
14
– 2020mdgX~4319g]a[bcR2*>t, ^seYZEBkhGLtAJ para. 21
– 2020mdgX2025@6t, ]cYsEBi-]Y@
6 NDCt, ]X2030@6t, ]cYsEBiNDCt, mai/-^seYZGLtAJ para. 22X23
– NDC)gU]cy}uIhC4Xvz{Xuw{z{t5H^sqZEBgGL para. 37

• IPCC 1.5: 039

 1./,0% • %%"&*(–  $ #&'!)– 020.-+$&$

• ./,0%

40

@;:rp\qZ•

POWERING PAST COAL ALLIANCEµG@;^¶

Os¬us²¶µ2017!111Ag

– Ij{Y
– 2018!121=W30mY
•{WIWz´­sWs²¬W ®~´W­{W²¥´Wx®®®WxzsWt´Wt²¬²W¬²Wsu®¬²Wu¬x®Wu­sW¬sW­² ªu²W­ssW®²®W¥´ ©®LW¨} Wz¬²Wª´´¬²WvxW¤®|®W|®Wvw´²WuW®Ws– 22m³H7Y
•
•
•
•
•

{·s®´W­t ª³°²sWz²­zW W²´´I·¬²,"Wvw´®,"B·{­y®sW{W±uW¢®® W¦W°²w® Wª´«´Wz¯²W± ²²M·z´¬­sVQ< W ´ W¨®£®²dm·¡u²³¯s¯L,"WT³%8PWz¬²³°®§– 28m3Y
•Abraaj Group, Alterra Power Corp., ArcTern Ventures, Autodesk, Avant Garde Innovations, BT, CCLA
Investment Management Limited, Diageo, Drax, DSM, Econet Group, EcoSmart, Electricité de France(EDF), Engie, GreenScience, Iberdrola, Kering, Marks and Spencer, Natura Cosmetics, Ørsted, PacificIslands Development Forum, Salesforce, SSE, Storebrand, Unilever, Virgin Group, XPND Capital– 90Uj`hf]ik[W562UW•#Uj`h$X'&

4S53NµEURELECTRIC¶/µ2017!415.¶– ?mS53FnW2050!oilW;Dr* `kXS Er=aqjKC– dmeplW2020!RnW@;:>S(r-J`kXjKCµef`W¤´¬²W~­©mS53FnW_mKCr+)cb¶
41

W>nsRq• C40– 2018,105294DbGj96n]+fIT 6
GGDPn4n1J/c47ero9]k;@+fb• Under2MOU– 2018,105294DbGj43xn220n NfMOUmUGn n17mJ/it13b30O~nSAY:
GGDPnP40J/c47ero&_Kf

• Global Covenant of Mayors for Climate & Energy– =!m$hb BQjzv}lL pnMXpnsRqu\hb10it]+k32.n`Hvwv{– 2018,125194Db 7.86 Gn n10.30 n<u6it120ugdtn9194n]+ W>f– 47erob-(+b*+b#%+b;@+b9]b(+b
VaKC8b|yFb"?+b[+b(+b')+b[E+].Z^Ff

42

CIENCE
•
•

p
I

0
)

h

s
i

d
n

ASED ARGETS

21/ 22.
g
n
R
P
oc
P
P e
D

9

ab

r

t

d

(

D

5:7 5743 76 3

W7

rjpvqlyohyniw xtzmf k&( gs) IN EV )++16 ) )DOBE YSTEMS )DVANCED ICRO ,EVICES )LMA EDIA )SAHI ROUP OLDINGS ) 1+ +ORPORATION)
3 +ORPORATION )STELLAS HARMA )STRA ENECA )TOS )UCKLAND )IRPORT )UTODESK ACARDI ILLERUD ORSNaSIOGEN BPOST ROTHER 1NDUSTRIES+AESARS -NTERTAINMENT +ANADIAN ATIONAL AILWAY +OMPANY +APGENINI ROUP
+APGEMINI+ARLSBERG ROUP +ASTELLUM +- - TIFTUNG +O
A) +ISCO YSTEMS +ITY ,EVELOPMENTS 3IMITED+,3 +OCA +OLA -UROPEAN ARTNERS +OCA +OLA
+ +OLGATE ALMOLIVE +OMPANY +ONSTANTIA .LEXIBLES 1NTERNATIONAL+OVIVIO ++ORREIOS DE ORTUGAL +EALTH ,AI IPPON RINTING ,AIICHI ANKYO ,AIWA OUSE 1NDUSTRY ,ANONE,ELL ECHNOLOGIES ,ELTA -LECTRONICS ,ENTSU ,IAB 1NTERNATIONAL ,IAGEO -DGE -NVIRONMENT TY -,-NERGIAS DE
ORTUGAL -LECTROLUX -LISA +ORPORATION -MIRA ROPERTY .UND -NECO -NEL -NVIRO ARK OLUTIONS -RICSSON ROUP.ARMER ROS .ERROVIAL .1- 1+ .OREST +ITY EALTY RUST .U IFILM OLDINGS .U ITSU ECINA ENERAL ILLSIVAUDAN EWLETT ACKARD -NTERPRISE ILTON INDUSTAN INC-LECTRIC 1NVESTMENTS-1
OST OTELSESORTSROUP US VARNA 1+) RUPPEN 1 -) 1NGERSOLL AND 1NTERNATIONAL .LAVORS .RAGRANCES
1NTERNATIONAL OST +ORPORATION 1 +AWASAKI ISEN AISHA
3INE
ELLOGG +OMPANY ERING ESKO +ORPORATIONILROY EALTY +ORPORATION INGSPAN ROUP IRIN OLDINGS OMATSU ONICA INOLTA ONINKLI KEOYAL
3ANDSEC 3AS EGAS ANDS 3EGRAND 3EVEL +OMMUNICATIONS 3EVI TRAUSS +O 31 13 ROUP 3UNDBECK 3 6RbAL
AHINDRA ANYO PECIAL TEELARKSPENCERARS
ARUI ROUPASTERCARD
C,ONALD S
ORGAN INDALL ROUPUNTONS ABTESCO -+ ESTLb EWS +ORP IPPON USEN ABUSHIKI AISHA OKIA OMURA ESEARCH 1NSTITUTE-NERGY 6RIGIN -NERGY 6RKLA ANALPINA ELTTRANSPORT OLDING ANASONIC EPSI+O FIZER HILIP ORRIS 1NTERNATIONALOST ORD ROCTER
AMBLE +OMPANY ROLOGIS ROXIMUS UKKA ERBS ED -LECTRICA DE -SPAcA ICOH )EIKO-PSON EKISUI +HEMICAL EKISUI OUSE EVENTH ENERATION
1 +OMBIBLOC INGAPORE ELECOMMUNICATIONSINGTELKUNKFUNK ONY OPRA TERIA ROUP TANLEY LACK AND ,ECKER TORA -NSO
1 6 6 + - 1+)3
UMITOMO .ORESTRY UNTORY EVERAGE .OOD UNTORY OLDINGSWISSCOM YMRISE -3-.6 1+) ENNANT+OMPANY ESCO - ) )HALYS 6,) +ORPORATION YSON .OODSNICHARM NILEVER ERBUND
AL MART
TORES
IPRO 6STERREICHISCHE OST RSTED

%( .`SBTs
2019 1'4%9
SBT`Qc
Z[^ .
33?

dpm}emsXdrzlsXdslXds|s
NMXNECX3JXkXnjwXn{Xp~Xp
~WfwrX X -.XtfnhvX@2.X@2gsXvXB X%( XgsXVSX#;!PX|snX%(TJXU)G=X
vzlXSXfXq.XmX
LIXILXnXy

SBT`Cc
E*]_Yb.
34?

`FXfiXhqfXNTTnXMS & ADfrdsm}emsXNMXiXK8XKDDIX-N
MX72!PXSOMPO}emsX"!PX1;MXxf
k.X+!OX+6}emsX~wH RX%:H RX%(,>NSGmX%(uiX%(^a\:.JTX%AX%A!0XN4m(?XztX(;$=.XLV0X&VIXUK-NSI%(D0XX<
0X/5oXYKK AP
44

#%WSBT• %XHeknahbrqHiomrhbrqL]WEtScope 3WEu` +Q_D/U0'`<4PRJ_– odrt20177!u• 2050YSV?gp`CQ_NT`[OPH2030YS
V2015(Sfdrk1Tfdrk2W, $cfW6
E`30s +I@Q_=TerjfHABH8-L]Wf
drk3WE`2030YSV2015(S15s +– # t20187!u• 2030V%* L]W, $cfWE`2015
25s +I>GS90 %W9eknalrM2025YS
VSBT`:Q_\K ^5ZNT`<4• #XHScience Based Target W.F`3&/V
Q_T<4I2020  3 !"YRV100 2W;`0Qt1712!WOne Planet SummitS)D1
7 u
45

RE 100• )>B100H*IRE100J6:8– 159, I2019 14 J– http://there100.org/companies– IKEAK2020 7252#.; >BF@G%
3 6>B<&– Swiss ReK2020 725.;&<100H>B5.;– AppleK2018 4'43? 650+1>
B&100H$ (ACE=DG9(ACE=DG
3-1'2020 725/4>B"<4GW"!

46

RE100
201914

47

"%&[RE100•}o 20174#
– 2050_WZ
e=A

•
•
•

•

jvF(100=AID1'XRV2030_WZYNX`302)wip 201710#
– 2040_WZ

jvF(100=AID1'XRV2030_WZ50=A– 2050_WZ

jvF(W100=Ahk 20183#
fpm~ 201711#Iwip 20182#Ir{ 20183#I
 .C 20185#In~y 20187#Ijxyz~tgn 20187#I? 20187#Iqu 20189#I-+3oyQU^d 201810#I785}p 201810#hxt– fsy~\Ba< [|lZ jv[ .eS– hxtLfsy~O[:@+[S]Ve jvW_KYJPXe*RT
X09 "%4,!620173#8"
• 20l[ jvZbc0FZ
0FWMcbJZSc;/>RI2018$_WZE

W2000kWeGH
2018'8$ RE100 140 %100*)!
 2030'  197TWh &(+"

#BNEF, 201849

e^vwhxozu f
XVgX• -g<9J (CSR)• Hd{ns• 0 g%#Sig&$– Wal-mart Stores• tp|~cT5 @}gI/m(• % fkl(hT!2000@}fM]ld1– (R<• (R*6> /.2014!EA6)CRgEA6m
3.5"Z[d23RgEA6gN8mR,PY+O10 !jcf;D• F4BfXVT5froqgvwy
w– 72% of 10 trillion US dollar (total amount of expected investment)
would go to renewables. Reach 400 billion dollar in 2040 on an annual
basis (BNEF).

• 'K g-Y0 QLwrfUXf \bUlXTF
4Big=Gm?7cZlXfaUb:`b'K\_UdEWl'Kg
50

te~%yte~%|••rn4oESG½V#º]N%¶©¥1"v\º£°­¹©¾4o– te()U ½FSB¾jbJN%wrm1"v\wT Js ½TCFD¾"C½2017-6EyDa"C
Ygy7EG20"¾•

' yXF>200]p|JºMw~9i<6– ±µ¹©2015-¢®·¤»q:P• J,yN%wrm1"v\c
• ±µ¹©ZuH5 bMw4o+,yN%¶©¥{}kÀd2}v\c•¢¹¦»¨³¹«ylOLfyª²©«³¹«– [RwrJ}ª²©«³¹«½4o;¾
• ¯· ¡»=.-t!t½Government Pension Fund Global¾– `104½2015-¿EGBS¾oWhKFXF>-t!tzFyJ30¼[R87º[RQw{J122]I0½`80_¬·¾
$z2016-1E1A}*@• xºte&3¥§– 2017-12Ey[RwrJ}24´»¸½`3200¾ª²©«³¹«Yg– [RQ?h/jx– Climate Action 100 +½17-12E^¾
51

 vs 52

Climate Action 100 +• Climate Action 100+~17%12.=XS

– 2018%10.19,4PJ7I6>32q{~>3500
d /Uc310^)I"R– ,0Qa_Pemopvskw|pOneP#5)IOPAUFJ DLBP  DLBP,@
emopvskw|pP+ kxu|,0@emop
vskw|pPbV\LBR– )I[TZKC\8^>100^!*1`^g|j}kw|pdE>~,01_10<$G
• 2
zli]NUcF-H[zli$'d9:Uc
?&^htr|l• tzy}nf}| ]$Uc*3• TCFD]VYW1^(M;53

=@
• UO$´¹¶®£¸ª­º2018/5?»– {k&¡1RLKQu~3ev.w~y;bH)~6f~~:^|• ²¢¤°¸«µ¶ª¶¹³º2018/6?»– {RLKQu¡fnjC~xJ,A§­9q 5ax"V¦±¶¨¹M¡8+` [ >5aGixYI!N2¡hlm7Z}V¡Ddx:¡`~|• ´¹¶®£¸ª­º2018/6?»– {k& \LWS # Xkx0
x LWS T`FtxRLKQu4-_f<o¡Bx;b_f&'(¡% gz]P wMC _f¡r*|• =@O$sº2018/7?»xcp`º2018/7?»– &)RLKQu³·¬¥©¯-;b6_f¡E54

2018 Global Investor Statement• COP24n4g32 Cw}nN]mM<n-cm415h'M_|tgj^a– y|h>3P%2020 h>3h"`bY
T.&=Bfe
– :EF8AIkh6V'Mh O:Ekh$[m2meaningful pricehLZ.Wn\d?:9 h!5Z.Wh\d?;)J R
h!5fe– 7 |rp#U@h(hD1• */^liYHUFJKSIYHUFJX'Y*Gosuvzxq{~vYQ0osuvzx
q{~vY,YKSI_+g55).9=
• COP24<^g Ahkh_VNAC=H>@3
dM[RcAhkhA6 F• 2019B22020D<ANDCA78=2/#6"!=?F– IPCC1.5 =UNEP GAPibkX– COP24<2]h]YQ2i]\j2MSkh2\hKLk2aXZ
c2KNfJZ2Ug2ehWI_2OQSgM6$78A
*G(
– EU

• ' AgkTkPV` A<2+6gkTkPV`A G4EFA5– 2019B6G20A-/ GEF

• 2020ANDC)%92=/#& 6@=:;0A,156

IPCC 1.58$H[•••rQi3JMa1℃G{U!«²¥
BF20306w1.5℃m
O 'sl­¥£z1.5℃Gy}{2℃ }1.5℃OSG@~zCO2z20106M20306a45³
Rz20506wB,h¦¯{CO2(¡¥)5R– 2℃%z20306a20³Rz20756wB,h¦¯

•
•
•
•

¨®¢²z9`Tzj°ª¬zVJ}?k7_
}fL'u±]d>e{|nqBRz
7_R^0zZ;Ag&)>e ©­+C}U!YK1.5℃OSG@}
20306xWCO2BpR1* z/I
<v­¥£ Rz.^¤¥§z2±cP z4N\ zNr Jz"#\ t -O '.^b: o=X.^,E
D~
57 1.5℃92℃<
1.5℃

2℃

2℃<BMHDG

:49>5;1:"A-@
'

14O

37O

2.6

;<:2

:49>100;1

:49>10;1102100=8<1

0.40INGK

0.46INGK

0.06INGK&+362&#,+;.7@
0 1)

7O

13O

1.86

" 8<GCJL 3O
EF< */

7O

2.3

$%(<5?:@ 70-90O
99O

P29O

300GM2

!<150GM: IPCC, 2018, WRI, 2018

58

t vhJ&e1A•tiy{~dS7 <Ne@=g– !EhO(e*G0hD3glny{~– D3kZg\L"T$an\_mgy{~qa– ?,=f'A+hPqY^g]X– “unstoppable” (Ben van Beurden, zs CEO, May 2017)• J&\9j a(cf>h<FHI1
Qhx\pn– t vy{~4S5-u{ 4S$an(cfSM;S12. 4St vrw|{hK…

• J&\q#`anTeboq)an'A\J&q_mg%K• t vz{}St v'Ah /–t\URXVUfVN6[mS8CdSB:hy{~@ hWnU N6Vg
59



 

2015 50  

: IEA, 2016 #!
%BNEF, 2018&" $  $





48

64

29

: BNEF, 2018 "10$  !# 

BNEF, 2018         




 

 

 

 

Frankfurt School-UNEP Centre/BNEF, 2017  

2018

64

*+"($
*+, )#-&
&' ,!%"  "

SourceIRENA, 2018


./%PO20186-4*wchF=@N• ]2012t5}r[ESG%Py1,000
\
@JTy50 w&mvu[?xPUx8efgqq_~m\y9+Dy[0wtprsyv`\Cx:7s_~m\>Z|x"wB1Av0w[?dPUeX~[3v#Vt,v"eHtv\4w>t#Vx!>ts{}fe[ix5 xWw
[?L2s[xmj`sRs`~m\^• ]i ~s9+DtNbz[elrGAv
"6xslo\ldl[2050MSwI;E<lr`gowy[ialo)sy"sfv`\>t#Vx!>uuQkn[
x$KY( m |t[Q'e6 r
`~m\^
66

|h`9i• I552VA2018"7/– h @Q{vkw}f2013"n  .^
Ytwpwmf$pNpF3B{+ZtwkqgJM%fU
|?…s{f 2030"| {mr`94'6=|>yy{fEz`9~|!Dy
tw|K-0{Zgi– h|`9y6WtwHj7:x8 yFIT#n |RGf,2|L|P)l\0Bz`9y tw*NQz|yzlf ;z[ {ruK$pNpF3B{+Ztwkqi– FIT#{vkwh2020"#1x|]{(2BTCtSli– d&YzoTX_ayey|@vOn{RG{nl< 7
{ rw`9{rwK
bc









69

Mitigation6%0<@?BCAD
L.22ED1E• 

6%0<#@?BCADpara. 610E– 2 D2025E'NDC>0<(6)
8)! 7NDC6$
5)&I69< >*1 D2020E61+2/=;7 >-Dpara. 7E– /7@?BCA8)NDC6mitigation 7"
>=</4>.5+* 87 :
3,<D67107$ Dpara. 8EE

70MitigationL5BPXU[_Za
L.22ba2b• SWV_\T_YL5BPXU[_Zapara.1118b– NDCLBP!#3I 3MSWV_\T_Ya
bL9AGN:(' N:6IILOPXU[_ZLAC=DGNDCRBPa para. 13b– (' N?MXU[_ZN&2 NDC7ML0"A:&
1 NDCLN0"BP?IR1H>PIOP 1/CP.21M
para.32R-apara. 14b– NDCLBP!#3I 3MSWV_\T_Ya
bL9AGN:(' N[]^WV_\T_YM 2R%apara. 15b– (' N:) MNDCMLE;G:137abbL F;G
@QPXU[_ZKJ5/BPXU[_ZLAC=DG:8
. L<;G,BPapara. 17b– ISWV_\T_YMXU[_ZLE;G:2027M
CMA10H*$A4:2028MCMA11H+` Rapara. 18b
71

Mitigation"#L.22$#3$• NDC #features$"#para.1920$– NDC  ! 
#para. 19$– 2024CMA7NDC 
" #para. 20$

72

NDC(( .SBI/2018/L.27/• )( .common timeframes/-2031  ",+NDC'#+!&-.para. 2/• CMA #+$*'SBI% #+$*2019 6(SBI% #+!&-.para. 3/

73

2VL.23WV1W• /MK2#+OJ8DT%:,M7VMPGWV$ para. 1W• 2028KCMA11NGJ)1K1(CU/;:
BSIT1(CLCMA>5H.=TR<J/<
AHU$ V$ para. 2W• -* L:)192  M  V&K  HCFDT WU
4@HQ202412!31NGJDTAHU$
V$ para. 3W• '3-* M3 L:EK06
G:13"7-10K PT UDTAH>G?TAHU$ V$ para. 4W74

6XL.23YX2Y• MPGILO.I?F= I&JBHP15X'para.
6Y– +)J<6
H
I;DO* P– /9"I;DO&P– +)J<6
H
=/9"I;DO&
=7I;DO7(:#2J48P
0• CMA3X2020YG#2CDOELI&JBHI;DOMPGPDOM>SBSTAI15Xpara. 12Y– Common reporting tablesHcommon tabular formats– <6H
=/9"I;DO&
J$1– /9 AJ3,SWQUT• Consultative Group of Experts (CGE)K=20191!@NRV J
G%-DOBHP'Xpara. 15Y75

15.L.5/• )'($+ - .para. 1/• 2024 )CMA7%1)#,"*'+#,( !&,$+!
&,.para. 2/

76

15#!+`5bL.5cb1c• I 10B

B$B(7R>.3

• QA\aXB=0N$C<"LB 0LNEB60LND&L(7C 
P7 M-*O,O/bpara. 2c• P%QB2#VS[_ P:V
@MHUbpara. 3c• QB8T4;)P^WZY]M
GK(7JIB6T9V2FNDC'V?bpara. 4c77

15(%+U .WL.5XW2X• II , J*G– 12 E:ICK83E5@EMSVR:I 2
7:I1 L4Wpara. 5X– 3'76;&Wpara. 7X– 2019ECMA2AL4Wpara. 8X– 2 E 15L4Wpara. 11X–  FC=BH272020D6Wpara. 12X– 2$F?K10 Wpara. 15X– NTQTOPA 8 A<C9 DF7>!?KEC=BH4E3A*L#"Wpara. 16X– ; ./L>72020ECMA3A)0U#"Wpara. 17X
78

15A<I2RL.53
•III f

X LHK M03opara. 19cm'-8U*kW1
3o sshouldpara. 19e
–lY#=c!hx?j9 lEF_x spara. 20
–lTOrGu[qzyE{n}F_fpara. 22amuEF_lNDCl/ %{n}4npara. 23
–

•
•
•
•

4A|tNDC9 S5wqzy
13A77 lb6/13A9;:hx/ly9A7i)9 v;:hx/|tVN/9 wqzy
bN gb6F_ wqzy
9A5|tVN/9 [qzy– hTO0+}l13A713A9|sTOr9 x/l13A13
"MPGd~lQRNZhxEbNF_[our~s
para. 22b••–(e$&D@P?lTO?j0]|n}F_
13A1413A15lMPG^"~lX Jw}ar,\xl"yC`.W1xlX
para. 26

LHKM03nl2R>gB{n}C`.p

79

15%$)_1`L.5a`4a• IV

2KZ[]^\]– ;L 2>9SHO Y/9GW=M>
ON3K+(M*N-YA`para. 28
a?KLDCN+(> N+(MI@J9
TUXWRD`shoulda`para. 28a– O;L 2YKW?BP`para. 30a• <KN8• <C;L#"&<K V'TWEKY#"• <QN • 4 7,0N >6:FXXP0Y#"• 9Y.5– <OQN!Y FXW`para.
31a80

15$"*b .dL.5ed5e• V M;dsystemic issueseM&2– NM;W,IA<CMAM&2MFP
LEURM;LG=H+W4C<5K 
WLQS+W4DTBJ@IATdpara. 32e– CMAN<M;W&2DTBJWL03I
ATdpara. 33e– N<M;W S!>9L<M/-
M#<6L8DT%W S!VK=dpara. 34e• VI – N<7M1W(P<[` MIM]a
ZY<'8< S)P O\Xc_^?RMW(P<:DTBJ@IATdpara. 35e
81

9.5(*?.:G2@
QL.15R
•
•
•
•
•
•
•

) ?20206E2 I-:GD5"&Qpara. 4R ?online portal@I"&Qpara. 6R ?20216E@=FA=B@I"&4GST@+=>GD5Qpara. 7R ?20216ECOP@OPJKNLM-=OPJ
KNLM@"  @I"&Qpara. 8R
2021@CMA46E3$@@=FA=B3OPJKN
LM@"  ICMA7#Qpara. 9R
20216E2<(*?.:G/!%I-Q
para. 10R4%@#'ICOP',7" 93;H1@
CMA<#Qpara. 11R4COP?C#I"&Qpara. 12R
2023@CMA6<3IBG0I:G8=I
#Qpara. 13R82

58aL.11b• 58O;201911@S[^ NCMA@SNQKJ!+C;CMAMCI/3V2?a#para. 1b• 58O71N]WYX\@SN48V B)B
Uapara. 2b• [^ N64N&N6aShare of proceeds; SOPbA%+KLGF"9J;58OS[^ NJ!+DUa
para. 3b• 58N$O;[^ N*(V]_Z`KDUR?;
71NCOPaCMPbM-0apara. 4b– 20196NSBIJ.;11NCMPJ.

• [^ N64NSOP@S48V B Uapara. 5b• 71@S[^ PN58N',M?:MH>
I58$M .V-0<EN V2019NCMA2J.apara. 6b• DU71NCOPaCMPbN#=T83  
Thank you so much for your attention.

 Yukari TAKAMURA
e-mailyukari.takamura@ir3s.u-tokyo.ac.jp84