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MARKET & ECONOMICSGlobal climate change deal agreed in Paris
Other critical parts of the agreement, like emissions benchmarks and billions of dollars in climate aid from developed countries, were left out of the legally-binding section of the agreement. By some point after 2050, the agreement says, man-made emissions should be reduced to a level that forests and oceans can absorb.
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Atkins said the new agreement is not the end of actions that must be taken.
“This is truly a historic moment”, the U.N. Secretary-General Ban Ki-moon told The New York Times.
“We don’t have a ideal agreement, but we have a good and necessary agreement”. The accord requires nations to cut emissions at the earliest to “achieve a balance between anthropogenic emissions by sources and removals by sinks” such as forests that absorb greenhouse gases.
It also calls for limiting the amount of greenhouse gases emitted by human activity; reviewing each country’s contribution to cutting emissions every five years; and for rich countries to provide poorer nations “climate finance”.
Representatives from 195 nations reached a historic agreement in Paris, France on Saturday that aims keep the impact of climate change “well below” 2 degrees Celsius.
President Barack Obama said the United States should be proud of the agreement, but also warned that there was a long way to go in preventing warming that scientists say will fuel far more extreme droughts, floods, heatwaves and quickly rising seas.
An activist hold a poster during a demonstration near the Eiffel Tower, in Paris, Saturday, Dec.12, 2015 during the COP21, the United Nations Climate Change Conference. That was one of the most hard pieces to agree on, with China asking for softer requirements for developing countries.
Xie stressed that China, as a responsible developing country, will take worldwide obligations commensurate with its own national condition, development stage and actual capacity.
Obama added: “We came together around the strong agreement the world needed”.
As a result of the climate agreement we can be more confident the Earth will be in better shape, he said.
Not only that, developed countries will also be required to help developing countries in this process, with developed countries having to send $100 billion per year to developing countries, a figure that is set to increase with time.
The deal is the first comprehensive global climate accord.
As per the deal, the nations who have readily participated in the pact will make efforts to limit the rise in global temperatures to below 2 degree Celsius above pre-industrial levels.
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He called the deal, almost a decade in the making, “a break-away agreement which actually changes the paradigm by which countries are making judgments about this”.