Hello, welcome to Impact Insights, the podcast series powered by Astari Investment Managers.

On 22nd of April, we celebrate the International Mother Earth Day.

Experts say it, there is a lot we can do as individuals to counter the climate crisis.

At the top of the list, pushing governments and businesses to reduce the greenhouse gas emissions

that are upending Earth's climate.

Earth Day 2020 is also a special day since it marks the sixth anniversary of the Paris Agreement

that was signed on 22nd of April 2016 by an 195 state.

The head of research Astoria, Natasha Gelda, explains what the Paris Agreement covers and

what is the aim of this agreement.

The Paris Agreement is an international legally binding treaty to combat climate change.

So it was negotiated by 196 parties at the United Nations Climate Change Conference in Paris.

It was adopted in 2015 and entered in force in 2016.

So 196 parties is basically the whole nations of the world.

The agreement covers three topics, climate change mitigations, climate change

adaptation, and the role of finance and private capital. The aim is to limit the amount of

greenhouse gases emitted from human activity and keep global warming to well below two degrees,

preferably to below 1.5 degrees Celsius compared to pre-industrial levels.

Pre-industrial levels refer to before the Industrial Revolution,

which happens between 1750 and 1850. So how does it work? It works on a five-years climate action cycle.

Starting in 2020, signatory countries did communicate in their national contribution plan and provide an update every five years.

So these plans contain two major topics.

So the first one is the mitigation plan.

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