The Paris Agreement, signed in 2015, is a global initiative aimed at reducing greenhouse gas emissions and combatting climate change. The agreement requires all participating countries, now numbering over 190, to work towards limiting global warming to below 2 degrees Celsius above pre-industrial levels. Additionally, the agreement aims to pursue efforts to limit warming to 1.5 degrees Celsius, recognizing that this would significantly reduce the risks and impacts of climate change.
To achieve these goals, the Paris Agreement outlines a number of requirements that participating countries must adhere to. These include:
1. Nationally Determined Contributions (NDCs) – Each participating country must create an NDC, which outlines their individual goals for reducing greenhouse gas emissions. These goals must be ambitious and reflect each country`s capacity and circumstances. They must be updated and enhanced every five years.
2. Transparency Framework – The Paris Agreement requires each participating country to regularly report on their progress towards achieving their NDC goals. This allows for greater transparency and accountability in the fight against climate change.
3. Financial Support – Developed countries must provide financial support to developing countries to help them transition to low-carbon economies and adapt to the impacts of climate change. This support must rise to a goal of $100 billion annually by 2020.
4. Technology Transfer – Developed countries must also provide technological support and transfer to developing countries to help them reduce their emissions and adapt to climate change.
5. Adaptation – The Paris Agreement recognizes that the impacts of climate change are already being felt and are likely to worsen in the future. Participating countries must therefore develop and implement strategies to adapt to these impacts.
Overall, the Paris Agreement represents a significant step forward in the global fight against climate change. It requires all participating countries to work together towards a common goal, and provides a framework for regular reporting and transparency. However, the success of the Paris Agreement ultimately relies on the willingness of individual countries to take action and reduce their greenhouse gas emissions.