![“The groundbreaking Paris Agreement puts the world on a new low-carbon and resilient pathway and will spur all actors—countries, cities, businesses and citizens—to transform our economies,” said Naoko Ishii, CEO and Chairperson of the Global Environment Facility. “It is a huge achievement in the fight against climate change and a major milestone in our effort to protect our planet and its peoples.” Eiffel Tower with fireworks in background](/sites/default/files/styles/main_image_content_width/public/ParisAgreement_870.jpg?h=e85f6c07&itok=_sY46Zx7)
An historic agreement to combat climate change and unleash actions and investment towards a low carbon, resilient and sustainable future has been agreed by 195 nations at COP21 in Paris.
“The groundbreaking Paris Agreement puts the world on a new low-carbon and resilient pathway and will spur all actors—countries, cities, businesses and citizens—to transform our economies,” said Naoko Ishii, CEO and Chairperson of the Global Environment Facility. “It is a huge achievement in the fight against climate change and a major milestone in our effort to protect our planet and its peoples.”
The new universal agreement’s main aim is to keep a global temperature rise this century well below 2 degrees Celsius and to drive efforts to limit the temperature increase even further to 1.5 degrees Celsius above pre-industrial levels.
The agreement also aims to strengthen the ability to deal with the impacts of climate change, including the provision of finance to the most vulnerable countries.
During COP21, the LDCF, the GEF-hosted climate fund for the most vulnerable countries, received over $250 USD million in new financing.
The GEF, including through its main trust fund, the Least Developed Countries Fund (LDCF), and the Special Climate Change Fund (SCCF), along with the GCF, will serve the Paris Agreement.