The ICE exchange from London currently trades as follows:
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- Brent Crude spot: $ 37.98
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Historical Global Agreement on Climate Change
The COP21 UN Climate Change Conference, which took place in Paris, reached a global agreement to tackle climate change, an outcome which represents a major landmark in addressing this global challenge.
In the Paris Agreement, adopted under the United Nations Framework Convention on Climate Change (UNFCCC), world leaders agreed to limit the rise in global temperature to well below 2°C, in order to avoid dangerous climate change.
“The Paris Agreement confirms the irreversible transition to a low carbon, safer and healthier world”, declared UNFCCC Executive Secretary, Christiana Figueres, following the adoption of the agreement.
Among the key measures in the Paris Agreement, global leaders have agreed:
- to peak greenhouse gas emissions as soon as possible and achieve a balance between sources and sinks of greenhouse gases in the second half of this century;
- to keep global temperature increase ‘well below’ 2°C, and to pursue efforts to limit it to 1.5°C;
- to review progress (upwards) every five years – a robust transparency and accountability system will track progress towards the long-term goal;
- $100 billion a year in climate finance for developing countries by 2020, with a commitment to further finance in the future.
Source: UNFCCC COP21, Paris