Series one - The Paris Agreement

Welcome to the first article of the Creative Eco Hub series where, as part of our mission here at CEH we want to inform you and keep you up to date with various global issues and events focusing predominately on Business for Good  (B1G1) sustainability and climate change.

Please feel free to suggest any other areas of interest you think would add value – we’d love your feedback.

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In the first of this series, we will be exploring the Paris Agreement including its purpose, background as well as Australia’s positioning and commitment with it to date.

The Paris Agreement is the latest in a series of protocols that sit within the United Nations Framework Convention on Climate Change (UNFCCC). The first of these and familiar to many was the Kyoto Protocol which commenced in 2005 and ran until 2012.

At COP 21 in Paris, on 12 December 2015, Parties to the UNFCCC reached a landmark agreement to combat climate change and to accelerate and intensify the actions and investments needed for a sustainable low carbon future. The Paris Agreement builds upon the convention and for the first time brings all nations into a common cause to undertake ambitious efforts to combat climate change and adapt to its effects, with enhanced support to assist developing countries to do so. As such, it charts a new course in the global climate effort.

The main objective of the Paris Agreement is to “strengthen the global response to the threat of climate change’, and its stated goal is to limit the increase in the global average temperature to ‘well below 2 °C’ above pre‑industrial levels. Additionally, the agreement aims to increase the ability of countries to deal with the impacts of climate change, and at making finance flows consistent with low GHG emissions and climate-resilient pathways. To reach these ambitious goals, appropriate mobilization and provision of financial resources, a new technology framework and enhanced capacity-building is to be put in place, thus supporting action by developing countries and the most vulnerable countries, in line with their own national objectives. The Agreement also provides for an enhanced transparency framework for action and support.

The Paris Agreement came into effect on November 4th, 2016, thirty days after the date on which at least 55 parties that makeup at least 55% of the total global greenhouse gas emissions ratified the Agreement.

Fast forward to today and The Paris Agreement has been ratified by 169 parties, including China, India, the European Union, New Zealand & Australia. The United States ratified the Agreement but, in August 2017, notified the United Nations of its intention to withdraw which will occur in November 2020.

So what does it actually translate to? Well close to home for us here at CEH, Australia’s commitment and targets in committing to the Paris Agreement include reducing greenhouse gas emissions by 26 to 28% below 2005 levels by 2030.

In terms of the practicalities of reaching this target, the Australian Government has introduced various policies, namely the Emissions Reduction Fund and its associated Safeguard Mechanism, as well as a number of other policies designed to reduce greenhouse gas emissions and increase energy productivity. In addition, and as a result of planned state energy renewable schemes, many suggest Australia will comfortably reach this target and that it should be more ambitious.

One such party is Australia’s own Climate Change Authority who suggests Australia should have a target of a 30% reduction from 2000 emissions levels by 2025 and further reductions by 2030 of 40–60% below 2000 levels. However, the Australian Government maintains that ‘our target is a fair contribution for Australia’ and argues that it exceeds those of other countries on a per capita basis as well as in terms of emissions intensity.

It would be great to hear your thoughts and opinion on whether or not you feel the Paris Agreement is an effective approach and whether or not our targets are ambitious enough. Please feel free to comment below and you can find more information on the Paris Agreement at https://cop23.unfccc.int/process-and-meetings/the-paris-agreement/what-is-the-paris-agreement