Commitment, 2015
Paris Agreement
The global climate treaty: hold warming well below 2°C and pursue efforts to limit it to 1.5°C, with national plans ratcheted up every five years.
- Temperature limit countries pursue efforts towards
- 1.5°C
- Temperature limit countries pursue efforts towards
- Adopted at COP21 in Paris
- 2015
- Adopted at COP21 in Paris
- Cycle for submitting stronger national plans (NDCs)
- 5 yrs
- Cycle for submitting stronger national plans (NDCs)
The Paris Agreement was adopted at COP21 in December 2015 and entered into force in November 2016. Nearly every country is a party. It commits them to hold the increase in global average temperature to well below 2°C above pre-industrial levels and to pursue efforts to limit it to 1.5°C.
Each party sets out its own Nationally Determined Contribution and is expected to submit a stronger one every five years. A global stocktake assesses collective progress, also every five years.
What it sets out to do
- Well below 2°C of warming, pursuing 1.5°C
- National climate plans (NDCs) strengthened every five years
- Finance flows consistent with low-emission, climate-resilient development
The CEII view
Paris turned climate policy into an investment signal: every NDC is, in effect, a national demand forecast for clean energy, grids and efficiency. The countries that translate their NDCs into project pipelines will capture the capital.
Centre for Energy Investment and Innovation