The Paris Agreement For Dummies

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    Unlike the Kyoto Protocol, which set legally binding emission reduction targets (as well as sanctions for non-compliance) only for developed countries, the Paris Agreement requires all countries – rich, poor, developed and developing – to contribute to and reduce greenhouse gas emissions. To this end, the Paris Agreement incorporates greater flexibility: there is no language about the commitments countries should make, nations can voluntarily set their emissions targets (NNCs), and countries will not be punished if they fail to meet their proposed targets. But what the Paris Agreement requires is to monitor, report and reassess countries` individual and collective goals over time, in order to bring the world closer to the broader goals of the agreement. And the agreement includes an obligation for countries to announce their next round of targets every five years, unlike the Kyoto Protocol, which aimed at this target but did not contain a specific requirement to achieve it. At present, 197 countries – every nation on earth, the last signatory being war-torn Syria – have adopted the Paris Agreement. Of these, 179 have consolidated their climate proposals with formal approval, including the United States for now. The only major emitting countries that have not yet formally joined the deal are Russia, Turkey and Iran. The president`s promise to renegotiate the international climate agreement has always been a smog screen, the oil industry has a red phone at Interior, and will he bring food trucks to Old Faithful? Although mitigation and adaptation require increased climate finance, adjustment has generally received less support and mobilized less private sector action. [46] A 2014 OECD report indicated that in 2014, only 16% of global funds were devoted to climate change adaptation. [50] The Paris Agreement called for a balance between climate finance between adaptation and mitigation and highlighted in particular the need to increase support for adaptation to parties most vulnerable to the effects of climate change, including least developed countries and small island developing states. . . .