Paris Agreement Soon to Be in Force
"Passing the threshold for the Paris Agreement's entry into force is a historic moment, marking a new era of global consensus on climate change action. This agreement will further accelerate development of a multi-trillion dollar market for clean energy technology solutions that reduce heat-trapping emissions," Energy Secretary Ernest Moniz said.
The U.S. Department of Energy announced that 72 parties accounting for 56.75 percent of global greenhouse gas emissions have joined the climate agreement negotiated at COP21 in Paris, which meets the requirement of 55 parties representing 55 percent of global emissions needed for the Paris Agreement to enter into force in 30 days, prior to the COP22 meeting next month in Morocco. U.S. Energy Secretary Ernest Moniz released a statement praising the agreement's progress. It will enter into force Nov. 4.
"Passing the threshold for the Paris Agreement's entry into force is a historic moment, marking a new era of global consensus on climate change action. This agreement will further accelerate development of a multi-trillion dollar market for clean energy technology solutions that reduce heat-trapping emissions," he said. "While the agreement's entry into force is cause for celebration, our work has just begun. The central challenge for this new era will be to accelerate the deployment of energy technologies, develop new innovative low-carbon solutions quickly, meet the goals our nations have declared before the world, and encourage even greater ambition. That's why, on the first day of COP21, President Obama announced Mission Innovation, an initiative in which 20 countries plus the European Union have now pledged to each seek a doubling of clean energy R&D investments over a five-year period. Private sector leaders announced the parallel Breakthrough Energy Coalition, again aimed at accelerating the transition to a clean energy economy.
"As we have already seen in the United States, building a clean energy economy creates jobs and entrepreneurial opportunities, lowers energy costs for families and businesses, enhances energy security, and has the potential to expand access to electricity to billions worldwide. The United States is committed to lead by example on clean energy and energy technology innovation," Moniz added. "As I travel across the country, the innovation I see taking place in every state convinces me that America has the workers, the entrepreneurs, the scientists, the engineers, and the desire to be the global R&D leader for clean energy technology, research, development, and deployment. With each country doing their part to meet the Paris Agreement, we can leverage science and technology to combat climate change, improve quality of life around the world, and create unprecedented opportunities through a low-carbon economy."