The ambitious and balanced agreement, the first major multilateral deal of the 21st century, sets out a global action plan to put the world on track to avoid dangerous climate change by limiting global warming to well below 2°C.
The deal is the culmination of years of efforts by the international community to bring about a universal multilateral agreement on climate change. Following limited participation in the Kyoto Protocol and the lack of agreement in Copenhagen in 2009, the EU has been building a broad coalition of developed and developing countries in favour of high ambition that shaped the successful outcome of the Paris conference. The Paris Agreement sends a clear signal to investors, businesses, and policy-makers that the global transition to clean energy is here to stay and resources have to shift away from polluting fossil fuels.
The Paris climate deal
The Paris climate change agreement is a bridge between today's policies and climate-neutrality before the end of the century. In Paris, governments agreed on ambition, commitment, and solidarity.
Ambition: Governments agreed a long-term goal of keeping the increase in global average temperature to well below 2°C above pre-industrial levels and to aim to limit the increase to 1.5°C, since this would significantly reduce risks and the impacts of climate change. The agreement calls for global emissions to peak as soon as possible, recognising that this will take longer for developing countries and to undertake rapid reductions thereafter in accordance with the best available science. Before and during the Paris conference, countries submitted comprehensive national climate action plans to reduce their emissions. The sum total of the 185 intended nationally determined contributions prepared in advance of the Paris conference are not yet enough to keep the world below 2°C by the end of the century. However, the agreement traces the way to achieving this target.
Commitment: To achieve this common ambition, governments agreed to come together every 5 years to set more ambitious targets as required by science. They also accepted to report to each other and the public on how well they are doing to implement their targets, to ensure transparency and oversight. A global stocktake will take place every five years. A robust transparency and accountability system will track progress towards the long-term goal.
Solidarity: The EU and other developed countries will continue to support climate action to reduce emissions and build resilience to climate change impacts in developing countries. Other countries are encouraged to provide or continue to provide such support voluntarily. Continued and enhanced international support for adaptation will be provided to developing countries. Developed countries intend to continue their existing collective goal to mobilise USD 100 billion per year until 2025 when a new collective goal will be set.
Loss and Damage
The Paris Agreement also features a standalone article dealing with the issue of loss and damage associated with the impacts of climate change. Countries also acknowledge the need to cooperate and enhance the understanding, action and support in different areas such as early warning systems, emergency preparedness and risk insurance.
Lima-Paris Action Agenda
The Lima-Paris Action Agenda, an initiative of the Peruvian and French COP Presidencies aimed at catalysing multi-stakeholder action, brought an unprecedented number of countries, cities, businesses and civil society members together on a global stage to accelerate cooperative climate action in support of the new agreement. The initiative demonstrated that the world is ready to catalyse efforts into climate action even before the Paris agreement enters into force in 2020. A number of major announcements and ground breaking initiatives were presented during the two week conference.