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In November, Paris will be hosting the United Nations Climate Change Conference. This will be the 21st yearly session of the Conference of the Parties, also known as COP21, and the 11th session of the Meeting of the Parties (CMP 11) to the 1997 Kyoto Protocol.
The conference is expected to deliver a “New Kyoto”, a binding agreement between member nations on their commitment to reduce carbon emissions. This would be the result of a long and tedious process started in 1992 and without a doubt one of the main geopolitical achievements of the year. However, reducing CO2 emissions is not a benign task and therefore assessing the potential impact of an international agreement is critical for policy makers, business owners and any individuals interested in affordable access to energy and energy-supply security.