Remy Rioux, one of the French government teams that led the talks, said, now director general of the French Development Agency, that „the Paris Agreement has proven to be inclusive and on a large scale, with countries accounting for 97% of global emissions, and those of non-state actors such as companies, municipal and financial financial institutions – and very resilient, precisely because it is inclusive. The Paris agreement is a strong signal of hope in the face of the climate emergency. In addition, we continue to dig and burn fossil fuels at a breakneck pace. Unep announced last week that fossil fuel production would increase by 2% per year. In the meantime, we continue to destroy the world`s carbon sinks by clearing forests – the world is still losing an area of the size of the UK every year, despite a commitment to stop deforestation – and the drying up of wetlands and peat and the diminishing ability of the ocean to absorb carbon from the air. Recognizing that many developing countries and small island developing states that have contributed the least to climate change are most likely to suffer the consequences, the Paris Agreement contains a plan for developed countries – and others that are able to do so – to continue to provide financial resources to help developing countries reduce and increase their capacity to withstand climate change. The agreement builds on the financial commitments of the 2009 Copenhagen Accord, which aimed to increase public and private climate finance to developing countries to $100 billion per year by 2020. (To put it in perspective, in 2017 alone, global military spending amounted to about $1.7 trillion, more than a third of which came from the United States. The Copenhagen Pact also created the Green Climate Fund to mobilize transformation funding with targeted public dollars. The Paris agreement expected the world to set a higher annual target by 2025 to build on the $100 billion target by 2020 and create mechanisms to achieve this. As part of the 2015 Paris Agreement, nations agreed on a legally binding goal of keeping global temperature rise well below 2 degrees Celsius above pre-industrial levels, with an aspiration limit of 1.5 degrees Celsius. Nations concluded the Paris climate agreement in 2015. Credit: Chesnot/Getty Producers has a perverse incentive to quickly exploit their reserves while they still can – a sale of evictions.
This poses risks to workers, communities and citizens who depend on oil revenues, as well as to the climate. Indeed, research shows that the cost of climate activity far outweighs the cost of reducing carbon pollution. A recent study suggests that if the United States does not meet its climate targets in Paris, it could cost the economy up to $6 trillion in the coming decades. A lack of compliance with the NPNs currently foreseen in the agreement could reduce global GDP by more than 25% by the end of the century. Meanwhile, another study estimates that achieving – or even exceeding – the Paris targets by investing in infrastructure in clean energy and energy efficiency could have great benefits globally – about $19 trillion. The Paris agreement survived the withdrawal of the United States and the normalization of the net zero agreement, but emissions continue to rise and vulnerable people suffer from climate disasters If all these countries meet their goals, the world will be almost on track to reach the ceiling of the Paris agreement. Climate Action Tracker, which analyzes carbon data, calculated that current commitments would result in a temperature increase of 2.1 degrees Celsius, leading the world to deliver on its 2015 promise in „striking distance.“