Winners and losers in the Paris climate pact

Janos Pasztor, the assistant secretary-general on climate change, said the plans submitted by 188 countries to address climate change represent “a firm floor” for future action, noting that all countries are required to submit updated plans every five year which must be “no less ambitious”.

The long-term goal also states that “in accordance with best available science” that “in the second half of this century” the world should get to a point where the net emissions of greenhouse gases should be zero.

“By [adopting] the pact-the world’s first comprehensive climate agreement-195 nations made the commitment to limit the rise of global temperatures to well below 2 degrees Celsius, with the bolder aim of 1.5C. It’s a moment to remember and a huge step forward in helping to secure the future of our planet”.

The guts of the agreement hang off the so-called “long-term goal” that commits nearly 200 countries to hold the global average temperature to “well below 2°C” above pre-industrial levels and to “pursue efforts to limit the temperature increase to 1.5°C”.

United Nations climate envoy Janos Pasztor described the deal as a “monumental achievement” and said it sends a message to the financial markets that it’s time to invest in low-carbon energy.

LONDON/COPENHAGEN: European renewable energy stocks rallied on Monday following an agreement over the weekend at the Paris global climate summit to find ways to stop global warming.

“UNDP, together with its partners, stands ready to help translate what has been agreed in Paris into climate action which will make a decisive difference to people and to our planet“.

He accused the Prime Minister of failing to show the leadership the agreement demanded.

He went on to say he was confident President Barack Obama would defend the agreement from a legislative assault, since some Republicans have suggested blocking funding for implementation.

Amid the euphoria that gripped the cavernous halls of Le Bourget conference centre in a northern suburb of Paris, there were warnings that the real work to tackle climate change is only just beginning.

He, like many others, paid tribute to the French, who are credited with delivering a master-class in diplomacy in steering the deal through tense and hard negotiations to achieve agreement.