Today, the Paris Agreement comes into force, sending an important signal to companies investing in climate-friendly business. This step follows the agreement’s ratification by 55 countries, representing more than 55 percent of global CO2-emissions. Among these countries are China, the EU, India and the USA.
At the core of the agreement is the notion to restrict global warming to 1.5 °C.
Lars Bondo Krogsgaard comments, “In my point of view the agreement has two sides. One side is that states are now looking to define serious measures to protect the climate and preserve the planet for future generations. The other side is that decarbonising the energy sector means an increasingly positive business environment for wind, in particular for onshore wind as cost-efficient source of energy.”
The global energy sector emits most greenhouse gases. The power sector alone accounts for roughly 1/3 of global emissions. Therefore, the 197 states of the climate convention pointed out that it will be extremely important to look at decarbonising the energy sector.
The upcoming COP22 in Marrakesh, which starts on 7th November is expected to lay out the path for the further implementation of the Paris Agreement.