Proposal to achieve zero emissions growth by 2060-80

The final draft of the Paris Climate agreement which will be taken up for discussion in the high-level segment of Ministers beginning Monday was released by the U.N. Framework Convention on Climate Change.

French President Francois Hollande said instituting a review mechanism to monitor compliance on carbon emissions by countries, and transfer of climate-friendly technologies to developing nations continue to be hurdles, but they could be resolved by “pushing ahead”. Future generations will be “very strict when they judge what was done by heads of state here” to avert dangerous climate change, he said.

The draft text has several optional provisions and amendments for consideration by various parties, as the French Presidency and the member nations of the UNFCCC thrash out differences and try to arrive at a consensus. The unresolved issues are placed within square brackets in the text.

Informed sources confirmed that India felt that a transparency and accountability regime should not treat rich and poor nations alike. Prime Minister Narendra Modi had conveyed as much to President Barack Obama during their meeting in Paris for the Leaders Event. For example, India does not have the capacity to measure automotive emissions based on vehicle use accurately, while the U.S. does that every year.

An agreement in Paris is keenly awaited not just by governments but by the global business community too, as it would unlock massive investments in renewable energy technologies by recognising plans that cover 94 per cent of global carbon emissions of 184 countries. The insurance industry also views it with importance, as intense weather events cause more losses.

On behalf of the G77+China, its chairperson Mxakato-Diseko tweeted, “G77 welcomes that we now have a Party-driven negotiating text.”

The overall goal of the Parisagreement, to keep global temperature rise to a specified quantum compared topre-industrial levels, is pegged at either “below 1.5°C”, or, as “well below2°C”.