The 2-week global climate summit in Paris ended in an historic deal between 196 nations to reduce carbon emissions, following two decades of failed negotiations.
Known as COP21 – the 21st session of the Conference of Parties – talks went into overtime, with the final draft of the “Paris Agreement” unveiled on Dec 12, and slimmed down to 21 pages.
Its long-term goal is to: “reach global peaking of greenhouse gas emissions as soon as possible”, and “achieve a balance between anthropogenic emissions by sources and removals by sinks of greenhouse gases in the second half of this century”.
This means that carbon pollution emitted by human activities must drop to the amount that oceans, soil and trees can naturally absorb before 2100. In other words, our reliance on fossil fuels for economic growth must switch to renewable sources this century.
Key measures included in the agreement are:
* To limit global temperature increase at “well below” 2°C of pre-industrial levels, with an aspirational commitment of 1.5°C which would help to better protect low-lying countries vulnerable to rising sea levels;
* The commissioning of a 2018 report from the Intergovernmental Panel on Climate Change (IPCC), the UN’s climate change research body, to provide the requisite steps for reaching these temperature targets;
* New climate plan pledges by 2020 from each participating country, based on the report and technology developments, with 5-yearly reviews and an expectation for signatories to strengthen their pledges each time;
* For industrialised countries to provide developing countries with at least US$100 billion annually towards reducing emissions and adapting to the impacts of climate change.
The last point refers to the “loss and damages” clause. Wealthy countries that were built up using fossil fuels are required to help poorer nations cope with damages caused by global warming, but there will not be any “liability or compensation” payable.
