On December 12, 2015, Canada and 194 other countries concluded the Paris Agreement, an ambitious and balanced agreement to combat climate change. This new agreement will strengthen efforts to limit the average global temperature rise to well below 2°C and continue efforts to limit the rise to 1.5°C. Fortunately for Canadians and the rest of the world, the temperature targets of the Paris Agreement are far too aggressive, at least according to standard methods of evaluating the policy. This is how William Nordhaus was awarded the Nobel Prize in 2018 for his pioneering work on the economics of climate change. But his model (in 2016) estimated that the “optimal” amount of global warming would be 3.5°C by 2100. But this economic pain for Canadians would also not help the world meet the official Paris climate goals, because the promises are far from enough. Again, the inadequacy of Paris` commitments around the world is probably a good thing, as leading models show that the UN`s 2°C ceiling is far too aggressive. Canadians should take a step back and assess the costs and benefits of delivering on our Parisian promise before proceeding down this path. In 2015, Canada and 194 other countries reached the Paris Agreement.

This agreement aims to limit the average increase in global temperature to a level well below 2 degrees Celsius and to track efforts to limit the rise to 1.5 degrees Celsius. As part of the agreement, Canada committed to reducing greenhouse gas emissions by 30% compared to 2005 by 2030. In addition, the Government of Canada is committed to implementing the Pan-Canadian Framework for Clean Growth and Climate Change, strengthening and implementing existing and implementing existing and new measures to reduce greenhouse gas emissions to exceed Canada`s 2030 emissions reduction target and to begin work so that Canada can achieve net-zero emissions by 2050. READ MORE: `Quick Wins` needed to reduce emissions, keep climate goals within reach, according to UN report According to the Intergovernmental Panel on Climate Change, net-zero commitment is needed to achieve the ambitious goals of the Paris Agreement and avoid disastrous environmental consequences. The summary below provides more details on long-term objectives, reduction and adaptation provisions, cooperative approaches, financing, transparency, inventory, ambitions before 2020, signature and entry into force of criteria. It would be one thing if all this economic pain actually met the official climate goals of the Paris Agreement. But unfortunately, it is estimated that even if all countries had respected their commitments declared under Paris, the planet would still have experienced a warming of 2.8 ° C in 2100. This is obviously not that far from staying below the official top 2°C warming ceiling, which is the so-called goal of the Paris Agreement. In Canada, Wright says Canada spends “not only our carbon budget, but also the carbon budget of our children and grandchildren.” The accelerating pace of technological progress and the possibility for federal governments to adopt a more aggressive policy on climate change means that Canada could meet or exceed its 2030 target. .