Nearly 200 countries reached a historic agreement in Paris over the weekend to limit greenhouse gas emissions in hopes of curbing global warming. Here, attorneys tell Law360 what they see as the takeaways from the landmark accord.
J. Wylie Donald, McCarter & English LLP
“A non-binding accord that will halt the planet’s headlong rush into climatic purgatory? Really? Yes, and I’m hopeful; here’s why. The take-away for the investment community is that the costs of carbon will increase. Whether this comes from a resurrected carbon tax, or command and control like the Clean Power Plan — which has resulted in coal plant shutdowns, even as it is challenged in the courts — or consumer preference — as evidenced by the free fall of solar power prices — if the cost of carbon goes up, the relative cost of non-carbon goes down. Investment, and our future society, changes accordingly.”
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