The Paris Agreement of 2015, also known as the Paris Climate Accord, is an international treaty designed to limit global warming and reduce greenhouse gas emissions. It was adopted by 195 countries in December 2015 and entered into force on November 4, 2016.
The Paris Agreement aims to limit global warming to well below 2 degrees Celsius above pre-industrial levels and pursue efforts to limit the temperature increase even further to 1.5 degrees Celsius. To achieve this goal, countries are asked to submit Nationally Determined Contributions (NDCs) outlining their plans to reduce greenhouse gas emissions and adapt to the impacts of climate change.
The Paris Agreement also provides a financing mechanism to aid developing countries in their efforts to reduce emissions and adapt to climate change. Developed countries are committed to providing $100 billion annually to developing countries by 2020, with a goal of increasing that amount in the future.
One of the key features of the Paris Agreement is its transparency framework, which requires countries to regularly report on their emissions and progress towards their NDCs. A mechanism for promoting compliance with the agreement has also been established.
The Paris Agreement has been praised for its global cooperation and ambitious goals. However, it has also faced criticism for not being binding and lacking enforcement mechanisms. In 2019, the United States announced its intention to withdraw from the agreement, but the country officially rejoined in 2021.
Overall, the Paris Agreement represents a significant step towards mitigating the effects of climate change, but sustained efforts and cooperation will be necessary to achieve its goals and ensure a sustainable future for generations to come.