A bit of history: notable COP moments
-COP3 in 1997 culminates with the Kyoto Protocol to reduce developed countries' greenhouse gas (GHG) emissions by more than 5% over the period 2008-2012, compared to 1990 levels.
- COP21 in 2015 is marked by a strong involvement of non-state actors (notably companies), unlike previous COPs which involved mainly national governments. It gives rise to the Paris Agreement in which 195 states commit to reducing their GHG emissions in order to contain global warming well below 2° C from pre-industrial levels and aim to limit it to 1.5° C by 2100.
-At COP24 in 2018 in Katowice, five major international banks, including BNP Paribas, committed to developing an open source methodology to measure and implement the alignment of their credit portfolios with the objectives of the Paris Agreement