An historic agreement to combat climate change was agreed by 195 nations in Paris at COP21 on 12 December. The agreement’s main aim is to ensure that global temperature rise is kept well below 2 degrees Celsius this century.

“The Paris Agreement allows each delegation and group of countries to go back home with their heads held high. Our responsibility to history is immense," said Laurent Fabius, President of the COP 21 UN Climate Change Conference and French Foreign Minister. French President Francois Hollande told delegates they’d reached "an ambitious, binding, universal agreement" and can "be proud to stand before their children and grandchildren".

World Bank Group President Jim Yong Kim welcomed the historic agreement and said that the world had come together to forge a deal that finally reflects the aspiration and seriousness needed to preserve the planet for future generations.

He added that the agreement leaves no one behind and protects the poorest people and the most vulnerable countries. He also said it sends a much needed signal to trigger the massive sums of public and private sector investments needed to drive economies toward a carbon neutral world as advised by science.

“We agree there is no development without tackling climate change. We cannot poison the planet and thrive," Kim commented. "We called for strong ambition, for remarkable partnerships, for mobilisation of finance, and for implementation of national climate plans. Paris delivered. Now the job becomes our shared responsibility. The World Bank Group is ready to help immediately and will do its utmost to realise this vision of prosperity."