Country Report Guyana
- ID: 2138721
- December 2015
- Region: Guyana
- 28 Pages
- The Economist Intelligence Unit
Late on Saturday, December 12th, delegates representing over 190 countries at the Paris climate conference formally adopted the Paris Agreement, which will set the tone for international action to tackle climate change. The agreement reinstates a global consensus on the need for broader action to reduce greenhouse gas emissions, among both developed and developing economies, and provides an agreed framework for increasingly ambitious future action.
The outcome of the Paris conference in itself will not solve the problem of climate change-it was never intended to-but the trajectory towards more interventionist policies aimed at reducing emissions could become irreversible as a result of it. What is less certain, however, in part because the agreement does not include specific targets on emissions reduction, is the pace at which countries will move along that trajectory. This will ultimately be decided by policymakers at the national level, but they will be operating in an environment where the actions of countries will come under increasing scrutiny at both global and national levels.
The agreement is a potential catalyst for more substantive action to reduce the carbon intensity of the global economy. Given that over the past few years there have been noticeable shifts in the attitudes of key nations, such as the US and China, towards reducing emissions, we believe that the Paris Agreement will facilitate meaningful action at a global level over the longer term.
Industry List: Energy
Industry Codes (NAIC): 22
Industry Codes (SIC): 49