International Agreements On Greenhouse Gas Emissions

A number of Emissions Trading Schemes (ETS) have been or will be implemented. [49]:19-26 The president`s promise to renegotiate the international climate agreement has always been a smog screen, the oil industry has a red phone at Interior, and will trump food trucks bring to Old Faithful? Australia has been involved in international climate negotiations since the 1980s and has had a national climate change target since 1990. 1997 – In December, in Kyoto, Japan, the Contracting Parties conclude the Kyoto Protocol, in which they agree on the broad outline of emission targets. Anxious to “significantly reduce the risks and effects of climate change,” the agreement calls for the average increase in global temperature over this century to be well below 2 degrees Celsius, while striving to limit the increase in temperatures to 1.5 degrees. It also calls on countries to work to ensure that global greenhouse gas emissions are offset as quickly as possible and become climate neutral by the second half of this century at the latest. To achieve these targets, 186 countries responsible for more than 90% of global emissions presented carbon reduction targets known as “Planned National Contributions” (INDCs) ahead of the Paris conference. These targets set out each country`s commitments to reduce emissions (including conservation of carbon sinks) by 2025 or 2030, including overall CO2 emission reduction targets and individual commitments from some 2,250 cities and 2,025 companies. Many cities, businesses and organizations are preparing plans to reduce emissions and responding to the UNFCCC`s call to become climate neutral by the second half of the century. In the United States, more than six hundred local governments [PDF] have detailed climate change plans that contain emissions reduction targets, despite the federal government`s withdrawal from the Paris Agreement. Meanwhile, investors are investing more money in climate-friendly funds. In early 2020, BlackRock, the world`s largest asset manager, announced that it would avoid investing in companies with severe climate risks. .

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