COP21: What our carbon consultants think
Throughout 2015 there was an unmissable sense of purpose surrounding COP21. The sense that the future of our world is being agreed in Paris has been felt throughout the world. There’s been much discussion about the negotiations in our offices so we asked our team to share their thoughts on the Paris COP.
- “Agreeing a 2C warming limited, and by association, a carbon budget, sets a natural limit to how much carbon we can emit. The implications of this on fossil fuel vs clean energy investments will be far reaching. I hope and expect to see the financial markets moving to allocate capital from the technologies of yesteryear to the modern, clean technologies of the future.”
Mark Chadwick, CEO
- “Good progress has been made so far and an agreement is looking likely. However the finer details are still unclear – Will the agreement be binding? Will temperatures be limited to 2 or 1.5 degrees? Will the deal be fair on the poorer nations? With only few days left to reach an agreement the pressure is definitely building. However, regardless of the outcome in Paris I think it is clear that the movement towards a decarbonized global economy is becoming inevitable and cities and business that act sooner rather than later will have the advantage.”
Annabell James, Carbon Consultant
- “Over the first week of this COP there has been no negotiation as parties stand firm on their demands. However, the 1.5 C degree objective is now on the table and supported by countries like Germany, France and Australia. This objective is very ambitious and almost unrealistic but very symbolic and would require a total energy paradigm upheaval in the coming decade.”
Olivier Levallois, Carbon Project Manager
- “Now well into the second week of negotiations a deal on tackling climate change is edging closer, however there remains contentious issues. Should we aim for a 1.5 degree target or a 2 degree target? Developing countries believe developed countries have not committed enough money to pay for less polluting energy generation in the developing world. There is a question around whether emerging economies take on larger responsibilities in the broader fight against climate change. So there is work to be done but the signs an agreement can be reached are looking positive.”
Cameron Wilson, Senior Account Manager
- “It is clear that private sector finance will be key to delivering the agreed $100 billion per year to developing countries by 2020. The financial services industry is already being transformed by climate change, but the private sector as a whole must lead with greater speed and ambition. This week, the voices of negotiators from developing countries should be centre stage in outlining how the private sector can help them most constructively. Climate change is our generation’s collective threat and collective opportunity – this must drive a harmonious outcome from COP21.”
Sonya Likhtman, Carbon Analyst
Our teams’ views have been echoed throughout the media with repeated discussion around the revised target of 1.5 degrees, financing for climate change adaptation and mitigation, climate change diplomacy and the future of fossil fuels.
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