COP21

After following the development of the COP21 in Paris over the last week, I have been pleasantly surprised by the amount of exciting and interesting occurrences. Many great things have already happened and I am sure that in the following days there will be even more. One initiative that I am particularly excited about is the new $500 million allotment to boost large scale climate action in developing countries. Four European countries including Germany, Norway, Sweden and Switzerland announced that they will invest this money to create incentives with the main goal being a drastic reduction to the amount of greenhouse gases emitted in developing countries. This is one of the many things that are absolutely vital to creating the type of situation that can be successful and maintained through time. It is very important for the developing countries to have adequate funding for mitigation efforts and this is only possible through the assistance of larger developed countries such as these that are willing to step up and help out where they are needed the most. The Transformative Carbon Asset Facility is what will help the developing countries implement their different plans for emission cuts. One way in which these issues will be addressed is through the implementation of different policies with the end goal of making sure that the amount of emissions are reduced such as making payments to the countries for the amount of emissions they are able to reduce and help set up different programs to support renewable energy, transportation, and waste management. This initiative is planned to start in 2016 with the initial funding commitment set at $250 million and the goal is to eventually make it up to the mark of $500 million. This is only one small part to the incredibly diverse network throughout the world that will play a role in the overall mitigation and adaptation abilities of both the developed and developing nations. I think that this shows great commitment from the World Bank and it is great to see this type of occurrence so early on in the meetings. I am very excited and hopeful for things to come as time goes on and more treaties and initiatives are formed as all of the major players from around the world continue to work together to stress the importance of a more sustainable and environmentally friendly future.