Paris Agreement Mandate

In the run-up to the Paris climate change conference, the EU presented its planned national contribution (INDC) to the secretariat of the United Nations Framework Convention on Climate Change (UNFCCC). The EU`s INDC expresses the EU`s commitment to the negotiation process for a new legally binding agreement on climate change to keep global warming below 2oC. It also reaffirmed the binding target of reducing domestic greenhouse gas emissions by at least 40% by 2030 compared to 1990, as indicated by the conclusions of the European Council in October 2014. The agreement stated that it would only enter into force (and therefore fully effective) if 55 countries that produce at least 55% of global greenhouse gas emissions (according to a list drawn up in 2015) [65] ratify, accept, approve or adhere to the agreement. [66] [67] On April 1, 2016, the United States and China, which together account for nearly 40% of global emissions, issued a joint statement confirming that the two countries would sign the Paris climate agreement. [69] 175 contracting parties (174 states and the European Union) signed the agreement on the first day of its signing. [59] [70] On the same day, more than 20 countries announced plans to join the accession as soon as possible in 2016. The ratification by the European Union has achieved a sufficient number of contracting parties to enter into force on 4 November 2016. 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

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