Publication details
Transition to a low-carbon economy: Role of private investments
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| Year of publication | 2017 |
| Type | Appeared in Conference without Proceedings |
| Citation | |
| Description | In 2015, the UN Climate Change Conference in Paris together with the adoption of the United Nations 2030 Agenda on Sustainable Development launched a new era of a global transition to a low-carbon economy. Ratification of the Paris Agreement is undoubtedly a turning point in the global response against climate change. The most important achievement of the Agreement is represented by its Article 2, setting commitments including holding the increase in the global average temperature to well below 2 °C above pre-industrial levels. In the context of the transition towards a low carbon economy it important to emphasize that international organizations jointly encourage countries to increase investments in clean energy. Various reports indicate that investments in energy efficiency and renewable energy are not consistent with the goal of limiting global rise in temperature to less than 2°C set by the Paris Agreement. International law can play a major role in the process of cooperation, sharing experience in facilitating the implementation of policies, practices and actions towards strengthening the green house gas emissions mitigation process. Furthermore, international law can facilitate flow of capital to clean energy at the global level and attracting energy access-related investments by reforming policy, legal and regulatory frameworks. This paper is focused on particular instruments of international law, and the extent in which international law can contribute to swift mobilization of private investments in clean energy. |
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