One of the new Agreement's core ingredients is known as the ambition mechanism, or cycles of action. This mechanism lays out a process to continue strengthening countries' climate action every five years, starting before 2020.
The Agreement adopted at COP21 in Paris takes the world further than it has ever gone before on climate policy. WRI Climate Director Jennifer Morgan explains.
The Paris Agreement has set the world on course for transformative climate action to cut emissions, promote clean energy, build climate resilience, and catalyze climate action investments. The Agreement’s backbone is transparency and accountability on the steps countries are taking toward these goals. This transparency is vital for building international trust and confidence that action is taking place as well as for assessing how to facilitate further action.
The Paris Agreement is an historic turning point in global action on climate change. This universal pact sets the world on a course to a zero-carbon, resilient, prosperous and fair future. While the Agreement is not enough by itself to solve the problem. it places us clearly on the path to a truly global solution.
"Under President Obama, the United States has sent a clear message at home and abroad that it's serious about climate action," write WRI Board member and former Governor of New Mexico Bill Richardson. "We've vastly increased fuel efficiency standards for vehicles, set standards to limit carbon pollution under the Clean Power Plan, and brought China and other countries together around firm international commitments for action."
If successful, the new international climate agreement forged in Paris will send strong signals to financial markets—and therefore to businesses and investors—about the direction of energy for the foreseeable future.
Even before the new international climate agreement is finalized, COP21 has accomplished a lot when it comes to cities, clean energy, business and more.
While negotiators huddle at COP21 in Paris, the Global Carbon Project just released its latest assessment of carbon dioxide emissions trends through 2014, showing where emissions are now and where they are headed. Learn about four of the report's key findings.
Experts explain how the Paris Agreement can send a strong signal that the most vulnerable countries will be supported, and that investors need to align portfolios for the inevitable zero-carbon future.