Common use of Climate Change Clause in Contracts

Climate Change. 1. The Parties acknowledge climate change as a global and urgent concern that requires collective action consistent with the overall goal of keeping the increase in global average temperature below 2 degrees Celsius above pre-industrial levels. Within the scope of their respective competences and without prejudice to discussions in other fora, the Parties agree to cooperate in areas of joint interest, including but not limited to: (a) the transition to economies with low greenhouse-gas emissions through nationally appropriate mitigation strategies and actions, including green growth strategies; (b) the design, implementation and operation of market-based mechanisms, and in particular of carbon-trading schemes; (c) public- and private-sector financing instruments for climate action; (d) low greenhouse-gas emission technology research, development and deployment; and (e) the monitoring of greenhouse gases and the analysis of their effects, including developing and implementing adaptation strategies as appropriate. 2. Both Parties agree to further cooperate on international developments in this area and, in particular, on progress towards the adoption of a new post-2020 international agreement under the UN Framework Convention on Climate Change as well as on complementary cooperative initiatives that would help address the mitigation gap before 2020.

Climate Change. 1. The Parties acknowledge climate change as a global and urgent concern that requires collective action consistent with the overall goal of keeping the increase in global average temperature below 2 degrees Celsius above pre-industrial pre‑industrial levels. Within the scope of their respective competences and without prejudice to discussions in other fora, the Parties agree to cooperate in areas of joint interest, including but not limited to: (a) the transition to economies with low greenhouse-gas greenhouse‑gas emissions through nationally appropriate mitigation strategies and actions, including green growth strategies; (b) the design, implementation and operation of market-based market‑based mechanisms, and in particular of carbon-trading carbon‑trading schemes; (c) public- public‑ and private-sector private‑sector financing instruments for climate action; (d) low greenhouse-gas greenhouse‑gas emission technology research, development and deployment; and (e) the monitoring of greenhouse gases and the analysis of their effects, including developing and implementing adaptation strategies as appropriate. 2. Both Parties agree to further cooperate on international developments in this area and, in particular, on progress towards the adoption of a new post-2020 post‑2020 international agreement under the UN Framework Convention on Climate Change as well as on complementary cooperative initiatives that would help address the mitigation gap before 2020.