For anyone elated by the climate-change accord in Paris, the commodity markets have a reality check for you. World leaders may have vowed to wean the world from fossil fuels, but prices for oil, coal and natural gas are at their lowest in years. Crude, which touched an 11-year low Monday, will probably decline even more with the US ending its 40-year ban on oil exports. So is that bad news for people hoping to switch the world to cleaner fuels?
High-stakes climate talks in France will not end today as planned but will last at least until Saturday, French foreign minister Laurent Fabius has announced. Diplomats and other top officials from more than 190 countries are trying to agree on the text of what would be an unprecedented deal for all countries to reduce man-made carbon emissions and co-operate to adapt to rising seas and increasingly extreme weather caused by human activity.
Ministers from around the world have worked through the night as the talks for a new deal on climate change enter their final days. Efforts are being made to break divisions on key issues in the agreement which aims to avoid dangerous climate change and provide finance for poor countries to deal with the impacts of global warming. A draft of the text for the agreement released on Wednesday contained the potential for ambitious targets on curbing rising global temperatures and cutting emissions over the coming decades, as well as weaker options, and a new text is expected later today.
The Prince of Wales has told world leaders that humanity faces no greater threat than climate change as he issued a rallying call for immediate action to tackle rising temperatures.
China has said it expects world leaders to reach a consensus at upcoming climate change talks in Paris later this month.
A huge march through Paris on the eve of international climate talks in the French capital will not go ahead following Friday’s terror attacks. The organisers of the march, which had been expected to draw as many as several hundred thousand people on Sunday November 29 calling for strong action on climate change, had hoped to go ahead with the demonstration despite the attacks. But in the wake of the killings in Paris, French authorities have told the coalition of campaigners it cannot proceed.