PARIS: The most influential businesses and sub-national governments from the US, Europe, China and beyond came to Paris looking for a catalytic climate deal – and today’s agreement does not disappoint. The Climate Group is delighted to be in Paris at this pivotal moment in history to witness the adoption of the ‘Paris Agreement’ at COP21 today.
A decade of challenging climate negotiations have finally come to fruition under the skilful expertise and diplomacy of the French Government and the UNFCCC, to create the most important international agreement since the establishment of the United Nations in 1945. The global deal will profoundly shape sustainable development over the course of this century.
The new deal includes a long-term goal that effectively commits the world’s nations to net zero emissions before the end of the century. This goal is backed up by a five-year review and ‘ratchet’ mechanism, which will enable countries to adjust their own targets over time. The mechanism is vital to raising ambition and putting the world on track to achieving the next zero goal. It will ensure a clear signal is sent to investors and businesses to accelerate the transition to a prosperous low carbon economy.