The Paris Agreement is a global accord that was adopted by 196 parties in December 2015 at the United Nations Framework Convention on Climate Change (UNFCCC) Conference of Parties (COP21) held in Paris, France. The agreement aims to limit global warming to well below 2 degrees Celsius above pre-industrial levels while pursuing efforts to limit the temperature increase to 1.5 degrees Celsius.
What is the Paris Agreement?
The Paris Agreement is a legally binding agreement under the UNFCCC, which aims to tackle climate change and its negative impacts. It was created in response to the growing concerns about the rising global temperatures and their impact on the environment, economy, and society.
The agreement sets out a long-term goal of keeping the average global temperature rise well below 2 degrees Celsius above pre-industrial levels. However, it also recognizes the importance of limiting temperature increase to 1.5 degrees Celsius for vulnerable countries and low-lying areas.
Summary of Key Elements
- Nationally Determined Contributions (NDCs): Each country is required to submit a plan outlining how they will reduce their greenhouse gas emissions and adapt to climate change.
- Transparency: Countries will regularly report on their progress towards meeting their NDCs and provide information on their emissions levels.
- Funding: Developed countries are required to provide financial support to developing countries for climate change mitigation and adaptation.
- Technology Transfer: Developed countries are encouraged to transfer technology and knowledge related to climate change mitigation and adaptation.
Why Is It Important?
Climate change poses significant risks to our planet’s health, including rising sea levels, more frequent natural disasters, and food insecurity. The Paris Agreement provides a framework for countries to work together to address these issues and reduce greenhouse gas emissions.
The agreement also sends a clear signal to businesses and investors that the transition towards a low-carbon economy is inevitable. It creates a level playing field for businesses by setting similar Targets for all countries and encouraging investment in clean energy technologies.
Conclusion
The Paris Agreement is an essential step towards combating climate change and reducing its impact on our planet. Its key elements, such as NDCs, transparency, funding, and technology transfer, provide an effective framework for countries to work together towards a sustainable future.
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