What’s in the Paris Climate Deal?
Channel: eesionline
Date: 11/02/2016

For more information: http://www.eesi.org/021016paris
Table of contents: https://youtu.be/6Z2d4BoXByE?t=7s

The Environmental and Energy Study Institute (EESI) held a briefing discussing the climate deal that came out of the 2015 Paris climate change conference, as well as what lies ahead for the 185 countries that pledged to reduce their emissions. The agreement set an ambitious goal of keeping warming significantly below 2 degrees Celsius (3.6 degrees Fahrenheit), in line with the international consensus that any warming above that level could lead to very serious consequences for the planet. The agreement specifies that each country will submit a more ambitious climate action plan every five years, showing a clear progression in emission reductions. In addition, the deal includes guidelines for countries to self-report their progress in meeting commitments, and a schedule for nations to meet and take stock of the progress made.

Speakers:
Dr. Daniel Reifsnyder, U.S. State Department
Skip to presentation: https://youtu.be/6Z2d4BoXByE?t=2m13s
Download slides: http://www.eesi.org/files/Dan_Reifsnyder_021016.pdf

Bruno Fulda, Embassy of France
Skip to presentation: https://youtu.be/6Z2d4BoXByE?t=25m38s
Download slides: http://www.eesi.org/files/Bruno_Fulda_021016-PRINT.pdf

Dr. Georg Maue, Embassy of Germany
Skip to presentation: https://youtu.be/6Z2d4BoXByE?t=50m28s
Download slides: http://www.eesi.org/files/Georg_Maue_021016.pdf

Question & Answer Session
https://youtu.be/6Z2d4BoXByE?t=1h0m31s

However, it is important to note that although every country has pledged to reduce emissions, none of these pledges are legally binding. The pledges so far will not reduce warming to below 2 degrees Celsius; according to data from the Climate Action Tracker, if countries stick to their commitments, warming should stay below 3 degrees Celsius. A target funding level for assistance to developing countries has not yet been set, although the agreement stipulates that funding will be more than $100 billion per year and will begin in 2025. Finally, in at least 55 countries (responsible for about 55 percent of global greenhouse gas emissions), the agreement will need to be ratified or approved, leaving it uncertain whether they will be able to stick to their commitments.

The influence of the Paris Climate Conference has spread beyond the governments involved, with over 2,025 businesses publicly pledging to reduce their carbon emissions. In the United States, 154 companies—with a combined market capitalization of more than $7 trillion—have signed the American Business Act on Climate Pledge, committing to take significant climate actions. Additionally, 28 of the world's wealthiest investors have pledged to invest a combined $2 billion (including $1 billion from Microsoft founder Bill Gates alone) in clean energy research and development over the next five years. The private sector's support is critical in the effort to meet and surpass government commitments on climate.