On Friday, the Paris Agreement was opened for signature, and saw 175 Parties sign, setting a clear record for an international agreement on its opening day. The opening of the Agreement, which took place at the United Nations (UN) headquarters in New York on Earth Day 2016, marked the first milestone since the Agreement was made in December 2015, and the start of a one year period in which countries will be able to sign.
The Paris Agreement reached at the 21st Conference of the Parties (COP-21) under the UN Framework Convention on Climate Change (UNFCCC), committed all countries to undertake action on climate change and report on their progress for the first time.
15 countries ratified the Agreement during the opening day of signatures, with many others expected to ratify the Agreement this year. The Agreement is now likely to enter into effect a couple of years earlier than expected - possibly in 2017.
IPIECA supports the Paris Agreement, and see it as a crucial step in global efforts to address climate change. The Agreement is an important milestone that will send a strong signal going forward, but more work and action by all stakeholders will be needed.
The industry’s history of innovation, global reach, knowledge and technical expertise, positions it to help develop and provide credible future energy solutions. At IPIECA, we believe that the industry is already playing a part in this transition and will continue to do so, by improving the efficiency of existing technologies and resources, and contributing to the development of new ones.
IPIECA will continue to demonstrate our commitment to meeting the challenge by working with our members and stakeholders. We have already held a workshop assessing the outcome and implications of the Paris Agreement and will continue to help our industry develop our vision for low-emissions pathways and how they might drive change, and where the industry can play a role.
The IPIECA Paris Puzzle: The pathway to a low-emissions future, represents our global membership view on the challenge.
- 26 April 2016