The December 2015 UN climate summit in Paris marked a historic step forward in international efforts to combat climate change, producing a new climate agreement that includes national commitments by 189 countries to reduce greenhouse gas emissions. While these commitments will need to be fulfilled and then ratcheted up in the years to come, they demonstrate the power of what UN Secretary-General Ban Ki Moon described as an “all hands on deck” approach to the climate challenge.
This tectonic shift in the mitigation framework, away from the Kyoto Protocol model, has been rightly celebrated as the most constructive path forward. But observers have largely missed the beginnings of a similar change in the realm of climate finance – a change that could grow to be equally significant.
The above excerpt was originally published in Diálogo Chino. Click here to view the full article.
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