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Climate Finance Bimonthly Newsletter - Issue N° 34 – COP 21 Special Issue – December 2015
There could perhaps have been no better end to 2015 than the adoption of the Paris Agreement by 196 Parties during the UN Climate Change Conference in December. Following nearly two decades of talks, the Parties agreed to reduce global warming to “well below 2°C and pursue efforts to limit the temperature increase to 1.5°C above preindustrial levels” by embracing clean energy options, while developed countries maintained their pledge to raise at least US$ 100 billion a year by 2020 to help developing countries transform their economies accordingly. For the African continent, this is good news. But the work has only just begun.
The tremendous turnout for events at the COP21 Africa Pavilion, jointly sponsored by the African Union Commission, UN Economic Commission for Africa and AfDB, reinforced the importance of communicating our regional challenges, sharing best practices and working together to achieve our future green goals. While continual financing is needed, innovative solutions tailored to meet regional needs will be just as important.