In: Operations Management
The Paris agreement was a landmark climate agreement where almost all the nations agreed to combat climate change. The meeting was held in Paris on 12th December 2015, where all the parties of UNFCCC agreed to intensify the actions and investments needed for a sustainable low carbon environment. In this press meeting, all the nations first time came together to put their efforts for minimizing climate change.
The central aim of this agreement is to strengthen the global response to keep the global temperature rise below 2-degree Celsius. It urged all the industrial entities of the world to pursue efforts to limit the temperature increase due to industrial operations. The Paris agreement wants all the parties to put forward through “nationally determined contributions” and to strengthen this effort in the near future. There will also be a global stocktake every five years to evaluate the efforts of the countries.
A work program was launched to make the Paris Agreement fully operational in Paris, which aims to develop procedures, modalities, and guidelines on a broad array of issues. Some of the key aspects of the agreement are global peaking and climate neutrality, long term temperature goal, mitigation, sinks and reservoirs, voluntary cooperation, adaptation, loss and damage, financial and technological capacity, climate change education, transparency, global stocktake, and decision.