After long and difficult negotiations between the coalition government and the opposition, an agreement was finally reached to reduce the LRET target from 41,000 GWh to 33,000 GWh. 7 At the meeting of the Paris Treaty Committee (COP) held in December 2015, discussions took place within the framework of the UNFCCC with a view to drawing up a new international climate agreement. This agreement should replace the Kyoto Protocol and set the level of members` obligations to reduce their emissions after 2020. The debate on the nature of the agreement has been at the forefront at the recent annual meetings of the COP. Other important elements of the agreement were: overall, the fact that it was not able to achieve one goal – and does not plan to achieve it for another decade – is a goal that was the minimum presented by the Garnaut Review; adopted by both major parties for more than a decade; and that we have enshrined in international agreements. To achieve the long-term goal of transitioning to zero carbon emissions, all parties must take action where there are no clauses that penalize inaction as a first step. The complexity of the follow-up measures needed to ensure that the terms of the agreement are implemented without doing anything should not be underestimated. The Paris Agreement is a treaty of international law, but only certain provisions are legally binding, in part to address the concerns of the United States (where Congress could reject a binding agreement). For example, if a country does not meet its commitment to reduce emissions around its stated target, there will be no consequences under the Paris Agreement, provided that it has divided its NDCs at five-year intervals and complied with the other procedural issues mentioned above. For adequate long-term investments in the transition to a low-carbon environment, it is essential that there is a long-term universal climate agreement based on shared commitments among members.
Ahead of COP 21, 160 parties presented preliminary high-level policy plans in which they implemented their approach to reducing emissions and the overall target of less than 2 degrees, which covers 94% of global emissions. These national contributions (NSDIs) provided a common framework for the discussion of COP 21. . . .