But the climate change agreement aims to mitigate these potential conflict catalysts, so that “countries that don`t have the resources to directly address these issues will become now,” Jon Powers, who served as the head of the Federal Sustainability Officer and special adviser for energy in the Obama administration, told CBS News. In a preamble, the agreement doubles to meet a promise made six years ago that richer industrialized countries will provide at least $100 billion a year in aid to poorer countries to help them combat the effects of climate change by 2020. It also promises that countries will consider increases at this level in the future. At first glance, the plan agreed on Saturday affects almost all nations. It requires countries to limit the increase in the average global temperature to less than 2 degrees Celsius by 2100. It`s also an even more ambitious goal to further slow warming — to just 1.5 degrees Celsius. (In the years since global industrialization, the world`s temperature has already risen by 1 degree Celsius.) A ranking of the world`s most carbon-intensive economies shows who is working hardest to combat climate change. But the most important thing about the new study is that there are no gold medals that can be awarded in the race to reduce emissions; It is not so much that competitors do not achieve the goal of the Paris agreement to keep global warming well below 2 degrees. Several major investment firms, including the Global Investors alliance in Germany, have called on G7 leaders to step up their fight against climate change. Arguments are likely to fall on deaf ears within the Trump administration. (04.06.2018) Although such a target does not seem relevant because it is so remote, it could be the clincher of a transition to a low-carbon economy. Indeed, a clear commitment to eliminate greenhouse gas emissions by the end of this century would mean a halving by the middle of the century.
If such a goal makes a low-carbon transition inevitable, then investors and entrepreneurs are more likely to commit now that there is an advantage to moving forward. This would accelerate innovation and cost reduction, which in turn could make this transition faster and painless than expected. There may be many parties involved in the climate change agreement — but there are also significant winners and losers. We look at them here: Portugal is on track to meet its 2020 climate and energy targets and is making good progress in reducing emissions and per capita energy consumption.