The Paris Agreement will enter into force today, 4 November 2016. The threshold needed was 55 Parties to the Convention accounting for at least 55% of global greenhouse gas emissions ratifying the Agreement. To date 97 Parties have ratified. This comes less than a year after the treaty was decided and just ahead of the 22nd session of the Conference of the Parties (COP-22) to the United Nations Framework Convention on Climate Change (UNFCCC), which is to be held in Marrakech, Morocco from 7-18 November, 2016.
The Paris Agreement for the first time commits all Parties to take action on climate change (known as Nationally Determined Contributions or NDCs) and report on progress. IPIECA supports the Paris Agreement, and see it as a crucial step in global efforts to address climate change. Significant progress in technology, economics, and policy responses would be required to put the world on a low carbon energy and emissions pathway towards the stated aim of ‘well below 2°C’.
IPIECA will continue to demonstrate our commitment to meeting the challenge by working with our members and stakeholders. We will be attending COP-22 and will be hosting a side-event on Monday 14 November, 2016 on the Elements and enablers of low-emissions pathways, during which we will share our views of the common elements of any transition, along with the critical enablers, and the role of oil and gas.
- 04 November 2016