Paris Climate Conference outcome is positive for Finnish cleantech industry

Paris Climate Conference outcome is positive for Finnish cleantech industry

Dec 31, 2015
Energy & resource efficiency
Renewables & smart grid
Solar energy

When 187 countries, covering over 98% of global emissions, announced their emission targets to the UN for 2030 or 2025 in the Paris Climate Conference, Finnish cleantech solutions received fruitful, new markets at a stroke. Of the named countries, over 100 made the agreement for the first time. The Paris agreement is internationally legally binding, raising expectations for more balanced competition and increasing demand for cleantech. 

Developed countries agreed to mobilize US 100 billion of climate financing to developing countries in 2020-25. Funding is from both private and public sources. 

"Already now, some countries, like Germany announced to double its climate funding by 2020," said Harri Laurikka, Chief Negotiator for Climate Change of Ministry of the Environment of Finland. Concerning China, the world’s major emitter, development has been encouraging: "The country has implemented what it had earlier promised. Though, non-fossil energy can be somewhat challenging there." 

Next steps for Finnish companies

The Paris agreemet included a number of announcements, such as public and private investments worth US 10 billion by 2020 for clean energy research and solar energy (US 100 billion until 2030) and stopping deforestation by 2030 while reforesting an area of the size of India. Moreover, some 700 cities announced they are to use 100% renewable energy by 2050, thus cutting emissions by 80%. All this creates substantial market opportunities for Finnish cleantech companies who now need to figure out their growth strategies. 

"Now that the Paris agreement is achieved, companies should not wait. One way to proceed is to view the announcements to represent a high level strategy for the country," Laurikka concluded.

Cleantech Finland held an info and member company event on 15 December 2015 where Laurikka discussed the news from the Paris Climate Conference held 30 November–12 December.

Read more about the announcements of individual countries here

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