The last week’s Paris UN Climate Conference could signify a beginning of a new, more eco-friendly era in the contemporary world that is still broadly dependent on fossil fuels. This revolutionizing agreement is already taking effect on the state on the stocks of major oil companies, although the majority of countries who have signed this agreement won’t start taking any concrete action till the year 2020.

The Paris Agreement is long overdue. The world simply needs a more reliable and safe model for future growth that will be both resilient and beneficial for the state of our planet and every person in it. A hundred and eighty eight countries in total took an official oath that they will diminish carbon emissions and slow down the process of global warming to an acceptable level. On a more explicit note, this course of action will directly affect the state of our economy in a yet to be defined proportions.

Although a great majority considers this deal as revolutionary ground breaking point for the future of our planet, James Hansen, an American professor in the Department of Earth and Environmental Sciences at Columbia University, known as “the father of climate change awareness” believes that this deal is in fact a hoax:

It’s just [EXPLETIVE DELETED] for them to say: “We’ll have a 2C warming target and then try to do a little better every five years.”

He continues to express his disappointment with this agreement, suspecting that some decision makers are postponing important actions in hope to secure the revenue coming from oil companies. Indeed, the very business model of all major oil companies will significantly change due to this agreement.

This deal obligates every country in particular to come up with a plan individually to help reduce emissions. Those plans will be named Nationally Determined Contributions and will be review individually. First review is scheduled for 2018, and the second for the year 2023.

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Posted by Nate M. Vickery

Nate M. Vickery is a business consultant from Sydney, Australia. He has a degree in marketing and almost a decade of experience in company management through latest technology trends. Nate is the editor-in-chief at bizzmarkblog.com.