Paris Agreement On Climate Change Canada

The green recovery of the measures implemented so far has hardly been sustained. Much of Canada`s $200 billion CoVID 19 stimulus package focuses on helping affected individuals and businesses deal with the immediate health and economic effects of the pandemic. The package provided CAD 2.5 billion to support the oil and gas sector to clean up orphaned and inactive wells and reduce volatile methane emissions. Depending on the structure of this support, it could undermine the polluter pays principle. 330 million CAD have also been allocated to the country`s airports. It is positive that large employers seeking assistance must publish annual reports on the disclosure of climate-related financial information and explain how they contribute to the implementation of Canadian NDCs and other Paris commitments. The government has also released some resources to redistribute food and avoid food waste. By 2020, opportunities will remain for all levels of government, the private sector, financial institutions and civil society to work to combat climate change and respond. On the basis of the Lima-Paris action programme, a high-level event will be organised in conjunction with each meeting of the Conference of the Parties (COP). Two high-level champions are appointed to facilitate and strengthen high-level engagement on behalf of the President of the Cop during this period.

To achieve this goal, the agreement is designed with an integrated “cycle of ambition” in which all countries – including large emitters – must gradually make more ambitious efforts to reduce their greenhouse gas emissions over time. The ambitious cycle will be informed by individual reports on progress and a regular assessment of progress at the global level, based on the best available climate science, including the work of the Intergovernmental Panel on Climate Change (IPCC). The Paris Agreement will help ensure that countries` policies and measures to combat climate change are informed, with the latest scientific knowledge, of the causes and effects of anthropogenic climate change. Fortunately for Canadians and the rest of the world, the temperature targets of the Paris Agreement are far too aggressive, at least in the usual policy assessment methods. William Nordhaus shared the 2018 Nobel Prize for his pioneering work on the economics of climate change.

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