Guest essay by Eric Worrall
The initial explosion of green Euphoria at the announcement of the COP21 climate agreement, is rapidly giving way to dismay, as various environmentalists and other expectant parties realise how feeble their climate “victory” really is.
According to The Guardian;
Leaders from around the world have hailed the agreement struck in Paris on climate change, but some analysts and environmentalists are less sure about its impact.
Richard Chatterton, head of climate policy at the group, which provides analysis used by investors, said: “The deal reached in Paris is weak, containing no concrete increase in the level of ambition to address climate change, and simply urges countries to do more over time.”
He said the most notable outcome was the mechanism for five-yearly reviews of carbon targets, and agreement on the principle that countries should provide transparent accounts of how they reach those goals. But even these were “accompanied by language that could allow countries to maintain the status quo for years to come”.
Other observers were also wary. Oxfam called the deal “a mixed bag”, arguing that governments had failed to put humanity’s interests above “narrowly defined and short-term interests”, and that the lack of a pathway to keep temperature rises below 1.5C above pre-industrial levels left that goal unclear and vulnerable people in danger.
But investors should take it as a signal, he added. “Does this give investors confidence? Probably, yes. It’s all very woolly [in language and aims] but the direction of travel is clear – to low-carbon.”
Read (plenty) more: http://www.theguardian.com/environment/2015/dec/14/paris-climate-change-deal-cop21-oxfam-actionaid
A pretty fair assessment, in my opinion, is the only real achievement of the new climate agreement, is perpetuity of employment for the climate conference class – an agreement for regular “reviews”, to ensure our jetset climate heroes don’t run short of conferences to attend.