Four Obscure Articles in the Paris Agreement Hold the Key to Resolve Climate Change

Graciela Chichilnisky and Peter Bal

Chapter 10 in Reversing Climate Change:How Carbon Removals can Resolve Climate Change and Fix the Economy, 2020, pp 259-271 from World Scientific Publishing Co. Pte. Ltd.

Abstract: After months, if not years of preparation, and two weeks of intensive negotiations, the Paris COP21 climate conference in late 2015 produced the Paris Agreement hailed by world leaders as “a turning point for the world,” signifying the end of the fossil fuel era. With no time lost, much of the news industry responded in a similar fashion, describing the agreement as the first legally binding global climate deal representing “the best chance to save the planet.” Unfortunately, these hopeful statements are not supported by the facts. The first legally binding international agreement in climate change was the Kyoto Protocol when it became international law in 2005. In contrast, the Paris Agreement has essentially no mandatory elements: it requires only the disclosure of intended nationally determined contributions (INDC) which are voluntary and do not suffice to meet even half of the targets of the Agreement. Furthermore, the Paris Agreement requires no action for at least five years. Overall, the Paris Agreement scales up hopes and ambitions by including nearly all nations; it is a statement about the seriousness of climate change and of hope about solutions, but it has no action plan. With the recent threat of U.S. withdrawal, it is not a universal agreement either…

Keywords: COP21; Climate Change; UNFCCC; Carbon Negative Technology (search for similar items in EconPapers)
JEL-codes: Q54 (search for similar items in EconPapers)
Date: 2020
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