United Nations: Paris Climate Talks Are a 'Monumental Triumph'

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Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--At the close of the COP21 talks in Paris, France, 195 nations agreed on an historic climate change and energy deal.

The long-term goal of the deal sees all nations agreeing to curb emissions in a global effort to keep a rise in global temperature "to well below 2 degrees Celsius." The final deal was hammered out after much back-room wrangling a day after COP21 formally closed.

"The Paris Agreement is a monumental triumph for people and our planet," said United Nations Secretary-General Ban Ki-moon, following the adoption of the agreement. "It sets the stage for progress in ending poverty, strengthening peace and ensuring a life of dignity and opportunity for all. When historians look back on this day, they will say that global cooperation to secure a future safe from climate change took a dramatic new turn here in Paris. Today, we can look into the eyes of our children and grandchildren, and we can finally say...that we have joined hands to bequeath a more habitable world to them and to future generations."

A key building block of the agreement is the pledge of $100 billion by developed countries each year from 2020 to help poorer nations reduce emissions and adopt more renewable energy technologies. Last week, Industrial Info reported on the creation of a new global solar alliance, spearheaded by India and France, that will drive $1 trillion in solar power development. For additional information, see December 7, 2015, article - New Solar Power Alliance Pledges $1 Trillion for Development.

U.K. Prime Minister David Cameron said: "Britain is already leading the way in work to cut emissions and help less developed countries cut theirs, and this global deal now means that the whole world has signed to play its part in halting climate change. Last night's deal requires countries to set increasingly ambitious targets for cutting their national emissions and to report on their progress--but, crucially, leaves the actual targets, which are not legally binding, for countries to decide for themselves."

John Kerry, U.S. secretary of state, added: "This is a tremendous victory for all of our citizens--not for any one country or any one bloc, but for everybody here who has worked so hard to bring us across the finish line. It's a victory for all of the planet and for future generations. We have set a course here. The world has come together around an agreement that will empower us to chart a new path for our planet--a smart and responsible path, a sustainable path. And extraordinarily, we are 196 delegations, 186 plans. That is a remarkable global commitment."

By December 12, 186 countries had published their action plan, setting out the way in which they intend to reduce their greenhouse gas emissions. These plans will also be reviewed every five years from 2020. Countries will not be allowed to lower their targets and will be encouraged to raise them. France has already pledged to review its own targets before the 2020 deadline.

Earlier this month, Industrial Info highlighted how renewable energy projects are now dominating world energy spending. Of the $6.3 trillion planned and under way in Power Industry spending being tracked by Industrial Info across the world, almost $3 trillion is going to renewable energy projects. For additional information, see December 1, 2015, article - Renewable Energy Dominates Global Power Industry Spending.

Click on image at right for a breakdown of Industrial Info's Power Industry project coverage by major fuel type.

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Our European headquarters are located in Galway, Ireland. Follow IIR Europe on: Facebook - Twitter - LinkedIn For more information on our European coverage send inquiries to europe@industrialinfo.eu or visit us online at Industrial Info Europe.