“The Paris Agreement on climate change is a monumental triumph for people and planet,” declared UN Secretary-General Ban Ki-moon as delegates from 195 countries approved the world’s first universal pact to take common climate action.
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Finance remains the most contentious issue as climate negotiators from around the world approach agreement on an historic pact to control climate change that will apply to all nations.
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Corporate actions on key climate issues such as carbon pricing, finance, responsible policy engagement and science-based emissions targets were announced at the Caring for Climate Business Forum, the official avenue for business at COP21 in Paris.
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“Mobilising energy efficiency is an urgent priority,” says Fatih Birol, executive director of the International Energy Agency. “To transition to the sustainable energy system of the future, we need to decouple economic growth from greenhouse gas emissions. Energy efficiency is the most important “arrow in the quiver” to achieve this,” writes the Turkish economist and energy expert in the IEA’s new Market Report.
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The European Investment Bank is the first issuer to link its individual green bonds to the projects they finance for the sake of transparency and accountability ahead of the Paris climate talks.
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Within two years China will open a national market-based cap-and-trade system to limit greenhouse gas emissions from some of its largest industrial sectors, President Xi Jinping announced late last month during his visit to the United States.
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Six of the largest U.S. banks have called for a strong, legally-binding universal climate agreement (Climate Deal) to emerge from the United Nations Paris climate conference in December.
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