PARIS France will revise its domestic targets for cutting greenhouse gases by 2020 and will seek to develop a coalition of nations striving for a international carbon price tag to accelerate a shift toward greener power, French President Hollande said on Saturday.
He was speaking just soon after the sealing of a worldwide accord to limit international warming, which the French leaders of the deal stated sacrificed some ambition in order to get a universal deal.
Hollande, whose presidential term ends in 2017, stated he engaged on behalf of France to revise the nation’s greenhouse gas objectives by 2020 at the latest and to review the quantity of cash it is providing to support the poorest nations adapt to climate modify.
He said he would also seek to function with other nations seeking to lead the fight against international warming.
“I engage with other countries if they want to join us to establish a coalition for a carbon price tag so that investment can be redirected,” Hollande told delegates in Paris.
A binding text, agreed by practically 200 nations, contains loose language on “internationally transferred mitigation outcomes,” which could allow countries to offset their personal emissions by getting emissions credits from other nations.
A political, non-legal component of the Paris Agreement recognizes the importance of “carbon pricing”, but does not require nations to seek to develop it.
(Reporting by Barbara Lewis and Alister Doyle)