The Paris Agreement On Climate Change Summary

Recognizing that many developing countries and small island developing states that have contributed the least to climate change are most likely to suffer the consequences, the Paris Agreement contains a plan for developed countries – and others that are able to do so – to continue to provide financial resources to help developing countries reduce and increase their capacity to withstand climate change. The agreement builds on the financial commitments of the 2009 Copenhagen Accord, which aimed to increase public and private climate finance to developing countries to $100 billion per year by 2020. (To put it in perspective, in 2017 alone, global military spending amounted to about $1.7 trillion, more than a third of which came from the United States. The Copenhagen Pact also created the Green Climate Fund to mobilize transformation funding with targeted public dollars. The Paris agreement expected the world to set a higher annual target by 2025 to build on the $100 billion target by 2020 and create mechanisms to achieve this. According to the United Nations Environment Programme (UNEP), temperatures are expected to rise by 3.2oC by the end of the 21st century, based solely on the current climate commitments of the Paris Agreement. To limit the increase in global temperature to 1.5 degrees Celsius, annual emissions must be below 25 Gigaton (Gt) by 2030. With the current commitments of November 2019, emissions by 2030 will be 56 Gt CO2e, twice the environmental target. To limit the increase in global temperature to 1.5 degrees Celsius, an annual reduction in emissions of 7.6% is needed between 2020 and 2030. The four main emitters (China, the United States, the EU-27 and India) have contributed more than 55% of total emissions over the past decade, excluding emissions due to land use changes such as deforestation. China`s emissions increased by 1.6% in 2018 to a peak of 13.7 Gt CO2 equivalent.

U.S. emissions account for 13% of global emissions and emissions have increased by 2.5% in 2018. EU emissions, which account for 8.5% of global emissions, have fallen by 1% per year over the past decade. Emissions fell by 1.3% in 2018. In 2018, 7% of India`s global emissions increased by 5.5%, but its per capita emissions are one of the lowest in the G20. [100] The objective of the agreement is to reduce global warming described in Article 2 in order to improve the implementation of the UNFCCC by the following:[11] The NDC partnership was launched at COP22 in Marrakech to improve cooperation so that countries have access to the technical knowledge and financial support they need to achieve major climate and sustainable development goals. The NDC partnership is led by a steering committee made up of industrialized and developing countries and international institutions and is supported by a support unit organized by the World Resources Institute and based in Washington, D.C. and Bonn, Germany. The NDC partnership is co-chaired by the governments of Costa Rica and the Netherlands and has 93 Member States, 21 institutional partners and 10 associate members.

INDE has addressed the challenges of eradicating poverty while reducing greenhouse gas emissions. About 24% of the world`s population without access to electricity (304 million) lived in India. Nevertheless, the country planned to „reduce the intensity of its GDP emissions by 33-35% by 2030“ from 2005 levels.