Post-COP21 webinar summary – what are the implications for Australian business?

Post-COP21 webinar summary – what are the implications for Australian business?
16 Dec 2015Archived News Climate Change Matters

Hosted by Energetics’ CEO Tony Cooper, this webinar discussed the outcomes of COP21.

Both Tony and Dr Peter Holt attended Paris and shared their experiences firsthand. In this webinar, Tony and Peter were joined by Dr Mary Stewart and Brian Innes in a discussion considering the issues for different sectors and the opportunities in the growing global low carbon economy.

Features of the new global deal

  • The goal is to limit global average temperatures held to less than 2oC above preindustrial levels and to “pursue efforts” to limit increases to 1.5oC.

  • A non-binding decision was made for countries to review national targets in 2020 and then every five years, in order to increase their greenhouse gas cuts. There will also be regular global stocktakes of progress towards the collective temperature goal.

  • $US100b a year in climate finance was promised by 2020 is a floor for ongoing assistance to developing nations, and should be regularly reviewed along with national greenhouse gas reduction targets, with a new financing goal agreed by 2025.

  • A recognition that many countries will suffer losses and damage from the effects of climate change, but which specifically excludes any liability or compensation claims as a result of the agreement.

Highlights

  • The surge in investment in clean energy 

  • COP21: business commitments to action 

  • Overwhelming support for carbon pricing 

  • Managing climate risk is a fiduciary duty

  • COP21: cities push for action

  • COP21: innovation and new money to drive it 

 

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Dr Peter Holt

Associate

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Dr Mary Stewart

Executive Director and General Manager (Consulting)

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