Bolivia became the 151st party to submit its INDC on Sunday, calling for a global carbon budget skewed towards poorer nations and continuing its opposition to the use of carbon markets.
In the document, the South American nation called for a distribution of the remaining global carbon budget taking into account historical responsibility, ecological footprint, capacity development and technological capacity.
This would give non-Annex I (developing) UNFCCC nations a 89% share and 11% to Annex I (developed) nations.
It said that for a lasting solution to the climate crisis we must destroy capitalism and proposed 10 structural solutions including “eradication of the commodification of nature and carbon markets which promote climate business millionaires and do not solve the problem of the climate crisis.”
Bolivia’s left wing government has long opposed the use of carbon markets and worked to block progress of market reforms and new mechanisms at UN talks, which takes decisions by consensus.
For its own actions, Bolivia gave no overall emission goal but put a strong focus on adaptation and broke them into three main areas: water, energy and forestry.
It pledged to increase its share of renewable energy to 79% by 2030 from 39% in 2010 and plans to reach zero deforestation by 2020 and increase its forested area by 4.5 million hectares by 2030.
These could be raised to 81% and 6 million hectares respectively with international support.
Such support could include an international financial mechanism under UNFCCC cooperation, cooperation funding and “non-refundable” technology transfer.
For details of all the pledges, check out our INDC Tracker.
By Ben Garside – email@example.com