Ahead of the signing ceremony at the United Nations’ headquarters tomorrow (22 April) of the Paris Climate Change Agreement, the Aldersgate Group said that the signing of the Agreement was an important and positive step forward but that it had to be rapidly followed by regional and national policies to increase investment in low carbon technologies.
Nick Molho, Executive Director of the Aldersgate Group said: “Since the Paris Climate Change Summit concluded last December, we have seen a steady increase in business commitments and initiatives to reduce greenhouse gas emissions and grow low carbon investments. National governments need to build on this and the momentum provided by the signing ceremony to rapidly ratify the Paris Agreement and put in place the national policies that will help meet the goal of limiting global temperature increases to well below 2C.”
“In the UK, this will require a rapid implementation of the fifth carbon budget recommended by the Committee on Climate Change, together with a clear plan to support cost-effective business investment in the energy efficient and low carbon technologies that the UK needs to cut emissions and modernise its infrastructure. It will also require a clear strategy to support the UK’s energy intensive industries in the transition to a low carbon economy and ensure that they have a role to play in the supply chain.”
Nick Molho added: “We have to remember that delivering the Paris Agreement on the ground isn’t just important for the environment, it’s essential to prevent the significant negative impacts that climate change will have on the world economy if left unchecked. The move towards a low carbon economy can also open up significant economic opportunities, with the international low carbon goods and services sector already worth $5.5tn in 2015”.