Agenda - 06-05-2018 8-h - Joining the Global Covenant of Mayors for Climate and Energy

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2 • The Global Covenant of Mayors for Climate & Energy is an international coalition of local and regional authorities with a shared long-term vision of promoting and supporting voluntary action to combat climate change and move to a low-carbon society, based on the following core principles: o Local Governments are Key Contributors: The Global Covenant of Mayors for Climate & Energy works to organize and mobilize local, regional and state governments to be active contributors to a global climate solution. o City Networks as Critical Partners: Local and global city networks are core partners, serving as the primary support for participating cities or regions. o A Robust Solution Agenda: Focusing on those sectors where cities have the greatest impact, the Global Covenant of Mayors for Climate & Energy supports ambitious, locally relevant solutions, captured through strategic action plans that are registered, implemented and monitored and publicly available. o Reducing Greenhouse Gas Emissions and Fostering Local Climate Resilience: The Global Covenant of Mayors for Climate & Energy emphasizes the importance of climate mitigation and adaptation, as well as universal access to energy. • The Global Covenant of Mayors for Climate & Energy will continue to galvanize cities and local governments in setting more ambitious climate reduction goals, taking accelerated action to meet those objectives, and measuring their progress. • This single initiative will have a broader reach and impact on more cities around the world. It will increase efforts to build even greater momentum for city-level climate action, and provide greater clarity for cities and ensure more consistent and comparable data – giving investors the ability to see that the actions cities have been taking are having lasting, verifiable, and most importantly, investable impact. Mission and Logistics of The Global Covenant of Mayors for Climate & Energy • Cities participating in this initiative commit to targets that will eventually be more ambitious than those of their respective national government, as defined through Nationally Determined Contributions (NDCs) under the Paris Climate Agreement. For those cities that have already made commitments through either the Covenant or the Compact, current commitments will be honored for a period of at least 2 years. • The merged effort will establish a Board of Directors, co-Chaired by the UN Secretary-General’s Special Envoy for Cities and Climate Change Michael R. Bloomberg and European Commission Vice President Maroš Šefčovič. The remaining seats will be held by global mayors representing both the full reach of the world’s regions as well as global networks of cities. With the help of a global Secretariat, the board will set, approve and monitor strategic direction and priorities to coordinate and support the work of the cities across multiple regions, through regional “Covenants” or facilitate their setting up where these do not yet exist. • The new initiative will include an advisory group of global financial institutions to ensure that cities are attractive for investors, as well as an advisory group of global and regional city networks. This group should ensure connectivity to international and local efforts, to connect technical assistance and engagement to the broader global context. • On June 23, a transition will begin to manage all activities of this coalition under the guidance of the new Board, supported by a Global Secretariat. A “Founders’ Council,” including representatives from global city networks and the European Commission will provide recommendations on strategic and technical issues for the Board. The new initiative will go “live” by January 1, 2017. The months leading up to January 1 will be used to engage in a dialogue with cities and their networks. 7