Paris Climate Agreement Outcome

National communication reports often cover several hundred pages and cover a country`s actions to reduce greenhouse gas emissions, as well as a description of its weaknesses and effects of climate change. [90] National communications are established in accordance with guidelines adopted by the UNFCCC Conference of Parties. Contributions (planned) at the national level (NDC), which form the basis of the Paris Agreement, are shorter and less detailed, but also follow a standard structure and are subject to technical review by experts. Developed countries have committed, under the UNFCCC, to support containment and adaptation efforts in developing countries. Under the Copenhagen and Cancun agreements, developed countries have pledged to mobilize $100 billion in public and private financing per year for developing countries by 2020. While mitigation and adjustment require more climate funding, adjustment has generally received less support and has mobilized fewer private sector actions. [46] A 2014 OECD report showed that in 2014, only 16% of the world`s financial resources were devoted to adaptation to climate change. [50] The Paris Agreement called for a balance between climate finance between adaptation and mitigation, highlighting in particular the need to strengthen support for adaptation from the parties most affected by climate change, including least developed countries and small island developing states. The agreement also reminds the parties of the importance of public subsidies, as adjustment measures receive less public sector investment. [46] John Kerry, as Secretary of State, announced that the United States would double its grant-based adjustment funding by 2020. [33] Many countries have stated in their INDCs that they intend to use some form of international emissions trading system to implement their contributions. In order to ensure the environmental integrity of these transactions, the agreement requires the parties to respect accounting practices and to avoid double counting of « mitigation results transferred internationally. » In addition, the agreement will create a new mechanism that would help contain and support sustainable development and could produce or certify negotiable emission units according to its design. These rules of transparency and accountability are similar to those set out in other international agreements.

Although the system does not include financial sanctions, the requirements are intended to easily monitor the progress of individual nations and promote a sense of overall group pressure, discouraging any towing of feet among countries that might consider it. In an effort to « significantly reduce the risks and effects of climate change, » the agreement calls for the average increase in global temperature over this century to be well below 2 degrees Celsius, while continuing efforts to limit temperature rise to 1.5 degrees. It also calls on countries to commit as quickly as possible to comparing global greenhouse gas emissions and to become carbon neutral by the second half of this century.