Report summaryThe UN Climate Conference (COP21) came to a close on 12 December in Paris, with nearly 200 countries agreeing to a global climate accord. Hailed as a ”historic turning point” by COP21 President Laurent Fabius, the Paris Agreement delivered the ambitious goal to "hold the increase in the global average temperature to well below 2°C above pre-industrial levels” and to "pursue efforts to limit the temperature increase to 1.5°C." Wood Mackenzie looks at how this target could be achieved, and what this means for supply/demand fundamentals in coal, oil and gas.
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