For example, because companies are transparent and make their environmental data available to their investors and customers, they have independently audited their emissions data and obtained it according to common global standards such as the GHG Protocol and ISO standards, allowing comparison and trust. This historic Paris agreement is our new star of the North. It gives businesses, investors, cities and regions – all of which are crucial to their implementation – a clear signal of their direction. The private sector, mobilized by the ambitious financial contributions of national governments, now has the power to direct serious money towards low-carbon investments. Work has only just begun, but the transition to a prosperous and clean economy is inevitable and trade arguments for climate protection have never been clearer. Carbon prices are, as the text acknowledges, the key to freeing up the billions of dollars needed to invest in energy infrastructure. It will encourage emission reductions, as well as an emissions trading mechanism. A growing number of countries are having or are considering national strategies for carbon pricing, and companies are starting to take action. More than 1,000 companies told CDP that they would incorporate or expect a carbon price in their business planning over the next two years. This agreement is expected to strengthen confidence in the continued rise in CO2 prices.

The fight against deforestation plays a crucial role in the fight against global warming. We welcome the support for the results-based payments agreement, which builds on previous progress with REDD. We also welcome the definition of an overall adaptation goal and see that water resilience is essential to efforts to combat climate change and adapt. We are delighted that the final Paris agreement is the low-carbon agreement the world needs. However, the Paris regulatory framework will provide a framework for action and provide a set of strong guidelines for the full functioning of the agreement and the transparency and clarity that is urgently needed. The world has reached many important milestones in 2015 in the context of climate change. The hottest thing ever recorded in human history was the year when we exceeded the symbolic threshold of more than 400 coins per million of carbon dioxide in our atmosphere. Today, we have a new milestone: the heads of state and government of the countries have reached a historic and ambitious agreement in Paris that will enable us to make the transition to a clean economy and put an end to dangerous climate change. “But the science is clear – we need to halve global emissions by 2030 and reach net zero by 2050 to limit the effects of the climate crisis. The world is still in the midst of a public health crisis, but environmental policies cannot relax. The cities on the A 2020 list show resilience and ambition, and we commend them for their leadership role in the fight against climate change.

“But of course we need much, much more to stop the worst effects of climate change.