Energy, Estonia, EU – Baltic States, Forum, Investments, Technology

Photo: valitsus.ee

The summit focused on financing for managing and adapting to climate change and improving the efficiency of emissions trading.

"Countries are facing serious choices when it comes to coping with climate change. One possibility is to be proactive and invest in new, clean technologies. Another option is to continue in the same old way, although doing so would require people to prepare for a shock – the arrival of the moment when they will suddenly have to change their way of life in order to adapt. I believe that the first choice is the most reasonable, responsible and least painful," Ratas said.

Ratas admitted that it would be impossible to abandon our current technology overnight, although more serious preparations for the switch to clean technologies must begin. "In order for there to be change, governments, undertakings, investors and representatives of free society must make a joint effort. This summit brought all of the parties together in Paris," he added. 

The summit marked the passing of two years since the signing of the Paris Agreement. In December 2015, 195 countries, including Estonia, signed the Paris Agreement, the goal of which is to reduce greenhouse gas emissions in order to keep the average world temperature below 2°C in comparison with the period prior to the industrial revolution.

The European Union bears the brunt of the fight against climate change and adapting to those changes. The goal is by 2030 to reduce greenhouse gas emissions by 40 percent in comparison with 1990 levels. "I am pleased that during our presidency we have already reached significant agreements for updating the emissions trading system in order to protect the climate, while also reducing emissions in transportation and agriculture. I hope that there will soon be an agreement covering land use and forestry," Ratas said.

"People may have contradictory opinions when it comes to climate change and the reasons behind it, but we must work together to ensure that future generations inherit a clean and habitable environment," Ratas said.

During the climate summit Ratas met separately with Hilda Heine, President of the Marshall Islands, in order to discuss Estonia's campaign for non-permanent membership of the UN Security Council.