Paris climate deal: nearly 200 nations sign to end the era of fossil fuels
December 13, 2015
Spanning two decades of talk and debate, with the false promises of the Kyoto protocol in 1992, and the failure of the COP 15 in Copenhagen in 2009, it would seem like hope has finally been restored with a new deal now sealed at the COP 21 conference in Paris. The new Paris climate deal signals the end of the fossil fuel era, with governments committing to cut greenhouse gas emissions to avoid the most dangerous effects of climate change and global warming. The deal will signal drastic transformation for government investment, policy and industry focus, as global markets will be forced to transition away from fossil fuels to clean energy.
Francois Hollande, the president of France, who has spent an enormous amount of capital and diplomatic effort into shepherding the agreement, stressed that this event provided a rare opportunity for world leaders to make history. "We are at a decisive point in time," he said.
Laurent Fabius, the French foreign Minister, added to the remark by stating that "It is my deep conviction that we have come up with an ambitious and balanced agreement. Today is a moment of truth."
Six years after the chaotic ending of the Copenhagen climate summit, the agreement now known as the Paris Agreement for the first time commits rich countries, rising economies and some of the poorest countries to work together to curb emissions.