On Saturday in Paris, the gavel came down on two weeks of fraught talks, resulting in a landmark agreement between representatives of 195 countries to cut emissions of greenhouse gases. The deal, which comes into effect in 2020, aims to ensure that global warming does not exceed 2 degrees C above pre-industrial levels, with an additional aim to cap this at 1.5 degrees C. A temperature rise of 2 degrees C could could result in catastrophic environmental changes, such as extreme weather, accelerated melting of the polar ice caps and dangerous rises in sea levels. As the first universal agreement on climate change, the Paris deal sends an important signal that all countries — including developing nations like China and India — are committed to a low-carbon future. The private sector, too, has a part to play — and supporters of the agreement are optimistic that it could encourage business leaders to turn away from fossil fuels and invest in renewables with confidence.

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