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'Transforming the planet': US and China ratify Paris climate deal

05:24 PM | 3 Sep, 2016
'Transforming the planet': US and China ratify Paris climate deal
HANGZHOU - The United States and China - together responsible for 40% of the world's carbon emissions - have now both ratified the Paris global climate agreement.

The Paris deal is the world's first comprehensive climate agreement. It will only come into force legally after it is ratified by at least 55 countries, which between them produce 55% of global carbon emissions.

“History will judge today's effort as pivotal," said President Barack Obama, who arrived with other leaders of G20 nations for a summit in the Chinese city of Hangzhou on Saturday.

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Last December, the world agreed to cut emissions enough to keep the global average rise in temperatures below 2C.

CO2 emissions are the driving force behind climate change.

Members of China's National People's Congress Standing Committee adopted "the proposal to review and ratify the Paris Agreement" on Saturday morning at the end of a week-long session, the BBC reports.

‘Big step’

Nations other than US and China will still tussle over their own ratification, but this will put pressure on G20 nations over the weekend to move faster with their pledge to phase out subsidies to fossil fuels.

But even if enough other players step forward to make the Paris deal law, huge challenges lie ahead.

The White House issued a statement on Saturday morning announcing the US ratification.

In a speech in Hangzhou, Obama said the Paris deal was the "single best chance that has to deal with a problem that could end up transforming this planet".

UN Secretary General Ban Ki-moon praised Obama for what he called "inspiring" leadership.

However, analysts warn that the target of keeping temperature rises below 2C is already in danger of being breached.

For 14 consecutive months meteorologists have recorded the hottest month on record, and the UK's Met Office has forecast that 2016 is likely to hit temperatures 1.1C above pre-industrial levels.

Average temperatures worldwide are likely to increase more in the coming years as the effect of previous carbon emissions makes itself felt.

The G20 summit in Hangzhou starts on Sunday.

The writer is a member of the staff.

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Currency Rates in Pakistan Today - Pakistani rupee to US Dollar, Euro, Pound, Dirham, and Riyal - 19 April 2024

Pakistani currency saw minor adjustment against global currencies on April 19, 2024. US dollar was being quoted at 277.4 for buying and 280.4 for selling.

Euro comes down to 293 for buying and 296 for selling while British Pound stands at 342.25 for buying, and 345.65 for selling.

UAE Dirham AED was at 75.2 and Saudi Riyal's new rates was at 73.30.

Today’s currency exchange rates in Pakistan - 19 April 2024

Currency Symbol Buying Selling
US Dollar ‎USD 277.4 280.4
Euro EUR 293 296
UK Pound Sterling GBP 342.25 345.65
U.A.E Dirham AED 75.2 75.9
Saudi Riyal SAR 73.3 74.05
Australian Dollar AUD 181 182.8
Bahrain Dinar BHD 740.09 748.09
Canadian Dollar CAD 201 203
China Yuan CNY 38.44 38.84
Danish Krone DKK 39.69 40.09
Hong Kong Dollar HKD 35.53 35.88
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.86 1.94
Kuwaiti Dinar KWD 902.64 911.64
Malaysian Ringgit MYR 58.08 58.68
New Zealand Dollar NZD 164.22 166.22
Norwegians Krone NOK 25.31 25.61
Omani Riyal OMR 722.87 730.87
Qatari Riyal ‎QAR 76.45 77.15
Singapore Dollar SGD 204.5 206.5
Swedish Korona SEK 25.31 25.61
Swiss Franc CHF 305.08 307.58
Thai Bhat THB 7.56 7.71

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