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THE CLIMATE POST by Tim Profeta December 17, 2015 Nations Strike Deal to Curb Carbon Emissions The first pact to commit all countries to cut carbon emissions —the F a1E.is . g�,c °c °,m�,c: °nd. was signed by 195 countries in LeBourget, France, on Saturday. Some aspects of the agreement, which will go into effect in 2020, will be legally binding, such as submission of emissions reduction targets and regular review of progress toward them. However, the targets themselves will not be binding. The agreement contains these k �:�inU:S: • To keep global temperatures "well below" 2 degrees Celsius (3.6 Fahrenheit) compared to pre- industrial levels through the year 2100 and to "endeavour to limit" them to 1.5 degrees Celsius • To balance carbon source and carbon sinks in the second half of this century • To review each country's emissions reduction contribution every five years so that it can be scaled up • For rich countries to help poor countries by providing "climate finance" to adapt to climate change. Previous United Nations talks had called on developed economies but not developing ones to mitigate greenhouse gas emissions. The new accord, in the works for nine years, requires action in some form from every country, rich or poor. But it imposes no sanctions on countries that fail to reduce and eventually eliminate greenhouse gas pollution. In a televised statement, President Barack Obama praised world leaders for agreeing on a deal that "offers the best chance to save the one planet we have," while conceding that "no agreement is perfect, including this one." Critics say the pact is vague and aspirational and does not do enough to avert serious damage. It lacks a timescale for phasing out fossil fuels, and critics describe the language on monitoring and verifying emissions reductions as weak. Nevertheless, the agreement was hailed by many world leaders. "When historians look back on this day, they will say that global cooperation to secure a future safe from climate change took a dramatic new turn here in Paris," said United Nations Secretary- General Ban Ki- moon, who added that "markets now have the clear signal to unleash the full force of human ingenuity." The agreement won't enter into force until 55 countries representing 55 percent of the world's emissions have ratified it. Deal Details: Finance and Temperature Some of the biggest crunch issues in the lead up to the climate agreement in Paris were money and temperature goals. So what does the deal say about these issues? Finance: According to an agreement made at the talks in Copenhagen in 2009, developed countries will aid developing countries with $100 billion a year in climate finance by 2020 to aid in the transition to sustainable forms of energy. It's an agreement they opted to continue through 2025. Prior to 2025, a new