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COP 21

INVENTEC CEO announced last December 8th the result of 15 years of SF6 emissions’ reduction, during the COP 21 conference with ICC.

To watch a sum-up of the meeting, click below:

Mr Patrice Rollet was also speaker during the SOCOTEC conference at the Grand Palais in Paris on December 9th,2015. You can check it below (in French):

First legally binding, universal climate agreement adopted

On 12 December, the 196 parties to the United Nations Framework Convention on Climate Change (UNFCCC) adopted the first universal, legally binding climate agreement called the “Paris Agreement” which will replace the Kyoto Protocol in 2020.

The plenary session began almost two hours late due to some legal issues, which were resolved. Attached, please find the COP21 Paris Agreement text.

COP21 President Fabius concluded (quickly): “I now invite the COP to adopt the agreement. I look at the room, I see that the reaction is positive, I see no objection, the Paris agreement is adopted". He concluded the session by hitting the hammer stating "This is a small hammer, but it can do great things ." Standing ovations were ongoing for a long time.

From a business perspective, the outcome is overall positive, in some elements beyond expectations (e.g. cooperative approaches).

Some key points from business perspective at a glance:

- The Paris Agreement is legally binding and universal, including a transparency framework and measurement, reporting, verification measures; targets for emissions reduction (different to the Kyoto Protocol) are addressed through the voluntary commitments of currently 186 countries.

- Target is to hold the increase in the global average temperature well below 2 °C above pre-industrial levels and to pursue efforts to limit the temperature increase to 1.5 °C above pre-industrial levels

- Important to note is paragraph 4.1:
Global peaking of GHG emissions in the second half of this century, translating the below 2C target - this is more ambitious than this year’s G7 outcome (“decarbonisation of the global economy over the course of this century”). This “translation” is important for future business investment decisions. It remains to be seen what adjustments this may require on the national level – through INDCs (national pledges to the UNFCCC) and/or other national regulations.

- Review period of 5 years.

- As previously mentioned, all cooperative approaches and accounting of internationally transferred mitigation outcomes, mechanism for sustainable development requests of business have been taken into account

- While business and non-state actors remain not directly referenced in the preamble, the preamble reference to “various actors” can be interpreted as inclusion of business in some form. Business remains included in the cited references previously (draft decisions: introduction, finance and non-party stakeholder sections; NAZCA; in the agreement through “various actors” and article 6).

- A new collective quantified goal, for a Green Climate fund, from a floor of USD 100 billion per year for developing countries from 2020 onwards was agreed.

To read the final agreement, click here

The ambiance COP 21 in a few images

People from all over the world the juice energy bar at COP21