Agreement reached at the Paris Climate Conference: What are the key points?

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“I see no one objecting. ”On the evening of the 12th, local time, at the moment when French Foreign Minister Fabius struck the gavel with force, a brief silence fell over the conference venue in Le Bourget, on the northern outskirts of Paris, where nearly 200 national and regional negotiators were gathered. After more than 20 years of global competition, success has come so quickly at this moment. 　　 The new global climate change agreement was born amidst the ensuing cheers, tears, hugs, and greetings exchanged among thousands of diplomats. Six years after the Copenhagen Climate Change Conference, humanity’s efforts to address climate change have finally reached a turning point. 　　 The Paris Agreement encompasses five key elements that have been pursued by various parties in climate policy over the past 20 years: \"long-term goals,\" \"climate finance,\" \"levels of action,\" \"transparency,\" and \"adaptation actions.\" It is the first legally binding agreement adopted by all contracting parties. 　　 What has drawn attention worldwide is the decision by all parties to \"strengthen the global response to the threat of climate change, keep the rise in global average temperatures below 2 degrees Celsius above pre-industrial levels, and strive to keep the increase at 1.5 degrees Celsius.\" The world will reach a peak in greenhouse gas emissions as soon as possible, and achieve net-zero greenhouse gas emissions in the second half of this century (by reducing human-caused carbon emissions to levels that forests and oceans can absorb). 　　 As Liu Zhenmin, deputy head of the Chinese delegation and vice minister of foreign affairs, said, the significance of the Paris Agreement lies in the fact that it establishes institutional arrangements for global participation in actions to address climate change after 2020. 　　 In an interview with journalists, Lord Nicholas Stern, professor at the London School of Economics and President of the British Academy, said: “This is a historic moment; the Paris Agreement represents a turning point in the fight against climate change, offering significant opportunities for countries to accelerate the development of a low-carbon economy on a long-term basis.” ”　　Nine key points of the Paris Climate Agreement: The goal is to keep the global average temperature rise below 2 degrees Celsius compared to pre-industrial levels, with a commitment to \"make every effort\" to keep it under 1.5 degrees Celsius in order to avoid \"more catastrophic climate change consequences.\" Legal form: The agreements adopted are legally binding, but the relevant resolutions and individual countries’ emission reduction targets are not legally binding. However, the adjustment mechanisms committed to by various countries are legally binding, aimed at ensuring the implementation of the agreement. Emission reduction: Of the 196 parties to the United Nations Framework Convention on Climate Change, 187 have submitted their national plans to combat climate change, which take effect in 2020, with these plans to be updated every five years. The rest **must submit a commitment plan to become a party to the agreement. Each **must commit to taking necessary measures and can use market mechanisms (such as emissions trading) to achieve the goals. Adjustment: Countries should raise their commitments every five years in order to increase the targets over time, ensuring that the goal of keeping temperature rises below two degrees Celsius is achieved. Implementation: There will be no penalties, but a transparent follow-up mechanism will be in place to ensure that everyone around the world keeps their promises, with reminders sent before the deadline to inform the relevant parties whether they are on track to implement the agreement. Long-term goal: Countries hope to reach peak emissions \"as soon as possible,\" acknowledging that this task will require more time for developing **countries. It is recommended to take rapid emission reduction measures starting now. Furthermore, countries have committed to achieving a “balance between emitted gases and absorbable gases” in the second half of this century in order to reach net-zero emissions. In other words: the gases emitted cannot exceed those recovered through natural or technical means. Financing: The agreement states that developed countries **should provide funding to assist developing countries in mitigating and adapting to climate change**, and encourages other countries with the economic means to make voluntary contributions as well. The intention to make a contribution should be communicated two years before the transfer of funds, so that developing countries can have an idea of the funds that may be available. Starting in 2020, wealthy countries should allocate at least $100 billion per year to support developing countries in **mitigating and adapting to climate change, with this amount to be increased starting in 2025. Losses and damages: The agreement recognizes the need to promote a “losses and damages mechanism” related to the negative impacts of climate change, but does not specify any relevant financial instruments. Entry into force: The new agreement enters into force officially after it is ratified by at least 55 contracting parties accounting for 55% of global emissions. 　 China’s path toward a low-carbon transition is becoming clearer. Following the conclusion of the global climate agreement, Xie Zhenhua said in his speech at the conference that the Paris Agreement is a fair and reasonable, comprehensive and balanced, ambitious, sustainable, and legally binding agreement; it sends a strong positive signal that the world is committed to achieving green, low-carbon, climate-resilient, and sustainable development. 　　 Xie Zhenhua said that China extends its warm congratulations on the adoption of the Paris Agreement. Although the agreement is not perfect and there are still some aspects that need improvement, this does not prevent us from taking a historic step forward. He emphasized that one-tenth is the plan and nine-tenths is its implementation. The agreement has been reached; the key task now is to implement it. 　　 “As a responsible developing country, China views addressing climate change not only as an inherent requirement for promoting its own sustainable development but also as a responsibility in building a community with a shared future for mankind. ”Xie Zhenhua said that China will proactively assume international obligations that are in line with its national conditions, stage of development, and actual capabilities. It will continue to meet the action targets set for addressing climate change by 2020, actively implement its own commitments, and strive to reach peak emissions as soon as possible. 　　 Yang Fuqiang, senior advisor on climate, energy, and environment at the Natural Resources Defense Council, told reporters that the Paris conference once again demonstrated that China is becoming more open and confident on climate issues, playing an increasingly important role in coordinating efforts between the North and South, and fostering trust and consensus among different groups and factions. 　　 Due to its large population, economic scale, as well as high levels of carbon emissions and energy consumption, China holds a pivotal strategic role in global climate governance. The period from 2014 to 2015 was a crucial time during which the name of the top leader was closely linked to climate change: whether it was China’s goal of reaching a peak in carbon emissions by 2030, the establishment of a national carbon market, or China’s decision to allocate $3.1 billion for South-South cooperation, all of these were announced by senior leaders. 　　 In fact, China’s path toward low-carbon development and energy transition is becoming increasingly clear. At the **18th Fifth Plenary Session** held at the end of October, green development became one of the main strategies for the planning of the next five years. 　　 Yang Fuqiang said that the 13th Five-Year Plan, which began in 2016, is expected to adopt a management approach that controls both the total amount and intensity of carbon emissions. The carbon market, set to be launched in 2017, along with ongoing power sector reforms and the accelerated development of renewable energy, will all serve as key drivers for China to further deepen its low-carbon transition. 　　 China's goal is to reach its peak carbon dioxide emissions around 2030. Coal consumption continued to decline in 2015, with a significant year-on-year drop; China’s total coal consumption may have peaked in 2014. At present, various measures are being taken in China to control the total coal consumption and advance energy transition; it is expected that by 2020, the share of coal consumption in total energy consumption will drop from 66% in 2014 to 57%, thereby achieving an earlier peak in carbon emissions. 　　 Li Lina, a researcher at the Innovation Green Center Institute, said that addressing climate change requires a two-pronged approach of mitigation and adaptation. The issue of adaptation is also practical and urgent for China. 　　 In July 2013, the National Development and Reform Commission, in collaboration with various ministries including the Ministry of Environmental Protection, the Ministry of Science and Technology, the Ministry of Land and Resources, and the Ministry of Finance, drafted the **Plan for Addressing Climate Change (2013–2020)**, establishing strategic measures to cope with the impacts of climate change. At the end of 2013, the National Development and Reform Commission issued the **Strategy for Adaptating to Climate Change**. 　　 “Overall, China still has a long way to go in terms of adaptation efforts. ”Li Lina believes that at present, adaptation efforts are still rather fragmented in terms of institutional structure, organizational management, and job responsibilities; there is a lack of overall coordination, implementation at various local levels and by different departments, as well as integration with other related tasks. The specific financial, technical support, and safeguards needed have not yet been defined. In this process, social forces, research institutions, non-governmental organizations, and others should all play important roles at various levels, providing policy recommendations, conducting scientific research, and implementing projects. 　　 “Looking ahead, climate issues will become increasingly central to both domestic and foreign policy. ”Yang Fuqiang said that he believes that, with the combined efforts of policies, technology, the market, and society, China will be able to coordinate effectively both international and domestic affairs, explore a path of transformation suited to its own stage of development and specific circumstances, and provide support and assistance to other countries around the world – especially those in development – setting a good example in this process.