Gigaton Initiative

• Announced by UNEP at UN climate conference in Lima (CoP 20)
• A new coalition to enhance the uptake of renewable energy around the world
• Aims at reducing the effects of climate change.
• A voluntary framework, open to developed and developing countries, intergovernmental institutions, private sector organisations and civil society.
•  Scarcity in reporting on reduction of GHG emissions –> This coalition was announced –> In turn encourage development of energy efficiency policies and deployment of renewable energy technologies.
• UNEP plans to substantiate and showcase the benefits and thereby encourage nations to develop policies that enable and encourage renewables and increased energy efficiency.
• As per UN estimates, renewable energy would be responsible for reduction of one gigatonne of GHG by 2020 –> Shows renewable energy movement is gathering foothold.
• UNEP also highlighted that there are financial benefits of energy efficiency. For instance, energy-efficient appliances and equipment would reduce total electricity consumption by about 10 per cent saving US $350 billion in bills and 1.25 billion tonnes of CO2 emissions every year.
• UNEP’s Emissions Gap Report 2014 states that in order to limit global temperature rise to 2°C, global carbon neutrality should be attained by mid-to-late century.