Hydrogen from renewable power: technology outlook for the energy transition

As part of the Paris Agreement, adopted in 2015, accounting guidance will be developed to support countries in accounting for their Nationally Determined Contributions (NDCs). Accounting is critical for assessing advancement toward and achievement of the mitigation components of NDCs and participating in the transfer of Internationally Transferred Mitigation Outcomes (ITMOs). Accounting gives countries a clear picture of whether they are on track to achieve their NDCs. It can inform course corrections and the establishment of new mitigation policies to help achieve the NDCs. Accounting guidance must accommodate the variety of mitigation components in NDCs that Parties have put forward. Parties are to account for them in line with the principles described in the Paris Agreement and its accompanying decision text. This paper provides recommendations related to accounting for greenhouse gas targets, non– greenhouse gas targets, and policies and actions. For greenhouse gas targets, it uses a balance sheet to illustrate how various aspects of accounting can be performed and how progress toward and achievement of the NDCs can be assessed.