After Paris climate deal, major changes are still a long way off

Le Bourget, France, Dec. 5, 2015: President Francois Hollande speaks during the COP21 climate change summit (source: dpa)
Le Bourget, France, Dec. 5, 2015: President Francois Hollande speaks during the COP21 climate change summit (source: dpa)

Apart from the collapse of world oil prices, 2015’s most important energy event was the Paris meeting on climate change. After a fortnight of negotiations, the agreement reached on December 12 was met with cheers. It was hailed as a landmark accord, or even, in the words of French President Francois Hollande, “a revolution for climate change.” However, a close look at the terms of the pact reveals just how disproportionate these reactions were.

The United Nations conference on climate change in Paris, known as COP21, received unprecedented backing. More than 150 world leaders, including Presidents Barack Obama of the United States, Vladimir Putin of Russia and Xi Jinping of China, kic...

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