A great number of Heads of State and Government gathered in New York to sign the Paris agreement.
Although the Agreement was adopted on 12 December 2015, it is now officially opened for signature on Earth Day, 22 April 2016.
Sabine Froning, Vice President PRA & Stakeholder Relations at Vattenfall, says “Vattenfall strongly supports the new climate treaty and the ambition to meet at least the 2°C target. Personally I am convinced that companies who do not deliver on the expectations from customers and society regarding low-carbon solutions will sooner or later be out of business. This being said, businesses can also not do it alone. It needs legislation, incentives, market rules which make the transition from more carbon-intense to new low-carbon solutions economically attractive. The discussions and needs are a little bit different everywhere, but giving carbon emissions a meaningful price is one of the most simple and good ways of doing this.”
Ratification and signature
The countries will have one year to sign the agreement. The signature reflects a country’s intention to be bound by an agreement and is a step prior to its ratification.
The Paris Agreement will enter into force 30 days after its ratification by at least 55 countries accounting for a total of 55% of global greenhouse gas (GHG) emissions.