The Paris Climate Agreement, also known as the Paris Agreement, is a landmark international treaty that aims to combat climate change. It was signed on December 12, 2015, during the 21st Conference of the Parties (COP21) of the United Nations Framework Convention on Climate Change (UNFCCC).
The Paris Climate Agreement aims to limit global warming to well below 2 degrees Celsius above pre-industrial levels, with a target of 1.5 degrees Celsius. It also aims to increase the ability of countries to adapt to the impacts of climate change and to mobilize finance to support climate action.
The agreement was signed by 195 countries, including the United States, China, India, and the European Union. It was a historic moment in the fight against climate change, as it marked the first time that all nations, both developed and developing, came together to address the issue.
The Paris Climate Agreement has been hailed as a major step forward in the fight against climate change, but it is not without its challenges. One of the biggest challenges is ensuring that countries are able to meet their commitments under the agreement. Each country has set its own emissions reduction targets, which are not legally binding. As a result, there is a risk that countries might not follow through on their commitments.
Another challenge is financing. Developing countries are in need of financial support to help them transition to low-carbon economies and to adapt to the impacts of climate change. Donor countries have pledged to provide $100 billion a year in climate finance by 2020, but it remains to be seen if this target will be met.
Despite these challenges, the Paris Climate Agreement remains a critical tool in the fight against climate change. It provides a framework for countries to work together to address the issue, and it sends a powerful signal to businesses and investors that the world is committed to a low-carbon future. As we move forward, it is essential that we continue to work together and take action to reduce our carbon footprint and protect the planet for future generations.