The Paris Climate Agreement, also known as the Paris Accord, is a legally binding international treaty that was adopted in 2015. The agreement aims to limit global temperature rise to below 2°C above pre-industrial levels and to pursue efforts to limit the temperature increase even further to 1.5°C.
The agreement was negotiated by the United Nations Framework Convention on Climate Change (UNFCCC) and signed by 195 countries. The United States, under the Obama administration, was a signatory to the agreement, but the Trump administration withdrew the country from the accord in 2017. However, President Biden has since rejoined the agreement.
The Paris Climate Agreement sets out a framework for countries to set their own targets for reducing greenhouse gas emissions. These targets, known as nationally determined contributions (NDCs), are updated every five years and are meant to be more ambitious than the previous ones.
The agreement also sets up a mechanism for countries to report their emissions and progress towards their targets. This transparency and accountability are crucial for ensuring that countries are taking action to address the climate crisis.
In addition, the Paris Climate Agreement includes a commitment to provide financial assistance to developing countries to help them transition to a low-carbon economy and adapt to the impacts of climate change. This funding mechanism, known as the Green Climate Fund, has raised billions of dollars in pledges from developed countries.
The Paris Climate Agreement is seen as a crucial step towards addressing the global climate crisis. However, many experts argue that the current NDCs are not ambitious enough to meet the temperature goals set out in the agreement. As such, there is a need for countries to ramp up their efforts to reduce emissions and to invest in renewable energy and other low-carbon technologies.
Overall, the Paris Climate Agreement represents a historic and important achievement in the fight against climate change. It provides a framework for global cooperation and action to address this urgent issue, but it will require ongoing efforts and commitments from all countries to ensure its success.