Climate policy pledges are an important step forward but fall short of 2°C

Pledges to reduce emissions in China, Europe and the US provide an important step forward for climate change action, but a more comprehensive effort is needed to stabilize the climate below critical thresholds. Climate finance can cover investment gaps and alleviate distributional tensions, a new study shows. The study looks into several key negotiation issues on the road from the climate summit in Lima to the one in Paris 2015.