U.S. Climate Alliance Commits to Paris Agreement Goals
What happened
The U.S. Climate Alliance has committed to achieving the goals of the Paris Agreement. The Alliance's stated goal is to end fossil fuel use. Achieving this goal is expected to drive up the cost of electricity.
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Why it matters
The commitment to end fossil fuel use signals a major market shift away from companies reliant on those products. This transition is being driven by the goals of the Paris Agreement.
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Who's involved
- Paris AgreementInternational agreement regarding greenhouse gas emissions mitigation
- ExxonMobilAmerican multinational oil and gas corporation whose business is impacted by the phase-out goal
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- ExxonMobilSpeculative
The commitment to end fossil fuel use could drive a market shift away from core products.
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The entities involved
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Paris Agreement
international agreement from 12 December 2015 within the United Nations Framework Convention on Climate Change (UNFCCC) dealing with greenhouse gas emissions mitigation, adaptation and finance starting in the year 2020
Related events
- COP31 is currently underway, with the focus on accelerating commitments made under the Paris Agreement.
- Spain and Europe are reaffirming their support for international climate treaties, including the UNFCCC and the Paris Agreement, while working on the green transition.
- Climate Analytics measures the climate fighting plans of various countries in relation to international goals.
- The United States has abandoned its climate pledge related to the Paris Agreement.
- Ding Xuexiang affirmed the importance of upholding the Paris Agreement and UNFCCC for sustainable development and climate governance.