Definition 1
Paris Alignment (or Paris Aligned) means that the GHG reduction targets and Climate Mitigation Measures of [the Company] support the achievement of the three goals set out in Articles 2.1 and 4.1 of the UNFCCC’s Paris Agreement[./, in particular pursuing efforts to limit global temperature increase to 1.5 degrees Celsius above pre-industrial levels].
Definition 2
Paris Alignment (or Paris Aligned) means aligning with the three goals set out in Articles 2.1 and 4.1 of the UNFCCC’s Paris Agreement[./, in particular pursuing efforts to limit global temperature increase to 1.5 degrees Celsius above pre-industrial levels].
Definition 3
Paris Aligned Investments means investments that are aligned with the Paris Agreement mitigation goal to strengthen the global response to the threat of climate change:
(a) by holding the increase in the global average temperature to well below 2°C above pre-industrial levels; and
(b) pursuing efforts to limit the temperature increase to 1.5°C above pre-industrial levels.
Drafting notes and guidance
Paris Agreement goals
The three goals set out in Articles 2.1 and 4.1 of the Paris Agreement are:
- the temperature goal;
- the adaptation and mitigation goal; and
- the financial flow goal.
The goals are also known as the climate objectives. For further detail, see UNFCCC: What is the Paris Agreement?
1.5°C Aligned or Paris Aligned?
This definition is very similar to TCLP's glossary term 1.5°C Aligned. While these terms are often used interchangeably, there are clear distinctions between the two.
Article 2(1)(a) contains two temperature goals:
- holding the increase in global average temperature to well below 2°C; and
- pursuing efforts to limit that increase to 1.5°C.
TCLP's glossary term 1.5°C Aligned refers only to the second temperature goal in Article 2(1)(a).
To be unambiguous about which temperature goal in the Paris Agreement the parties are aligning their targets and climate change mitigation measures with, TCLP recommends using 1.5°C Aligned rather than Paris Aligned.
Review
Organisations that set Paris Agreement aligned goals, Net Zero Targets or GHG reduction targets often also commit to keeping their goals and targets under review in line with developments in science and technology to achieve the three climate objectives. See TCLP glossary term near- and long-term Science-Based Target.
Climate policy
Organisations may also want to commit in their climate or environmental policy to not undertaking activities that hinder or are inconsistent with the climate objectives.