What Is The Agreement Of Paris

Although containment and adaptation require increased climate finance, adaptation has generally received less support and mobilized less private sector action. [46] A 2014 OECD report found that in 2014, only 16% of global financing was dedicated to climate change adaptation. [50] The Paris Agreement called for a balance between climate finance and mitigation, and in particular highlighted the need to increase adaptation support for parties most vulnerable to the effects of climate change, including least developed countries and small island developing states. The agreement also reminds the parties of the importance of public subsidies, as adaptation measures receive less investment from the public sector. [46] John Kerry, as Secretary of State, announced that the United States would double funding for subsidy-based adjustment by 2020. [33] From November 30 to December 11, 2015, France hosted representatives from 196 countries at the United Nations Climate Change Conference, one of the largest and most ambitious global climate meetings ever organized. The goal was nothing less than a binding, universal agreement to limit greenhouse gas emissions to levels that would prevent global temperatures from rising more than 2°C (3.6°F) above the baseline temperature set before the start of the Industrial Revolution. THE PRESIDENT: Thank you very much. (Applause) Thank you very much. I would like to begin by talking about the terrorist attack in Manila. We are monitoring the situation closely and I will continue to provide updates if anything happens during this time. But it`s really very sad what`s happening in the world with terror.

Our thoughts and prayers are with all those affected. Before I talk about the Paris Agreement, I would like to begin by taking stock of our enormous — absolutely enormous — economic progress since election day on 8 November. The economy is starting to come back, and very, very quickly. We have added $3.3 trillion in market value to our economy and more than one million jobs in the private sector. China will be allowed to build hundreds of additional coal-fired power plants. So we can`t build the factories, but they can, according to this agreement. India is allowed to double its coal production by 2020. Remember: India can double its coal production. We should get rid of our own. Europe is also allowed to continue building coal-fired power plants. Complying with the terms of the Paris Agreement and the onerous energy restrictions it imposed on the United States could cost America up to 2.7 million jobs lost by 2025, according to the National Economic Research Associates.

That includes 440,000 fewer manufacturing jobs — not what we need — believe me, that`s not what we need — including auto jobs and the further decimation of vital American industries on which countless communities depend. They rely so much on them, and we would give them so little. Unlike the Kyoto Protocol, which sets legally binding emission reduction targets (as well as sanctions for non-compliance) only for developed countries, the Paris Agreement requires all countries – rich, poor, developed and developing – to do their part and reduce greenhouse gas emissions. To this end, greater flexibility is built into the Paris Agreement: it does not include language on the commitments that countries should make, countries can voluntarily set their emission targets (NDCs), and no penalties are imposed on countries if they fail to meet the proposed targets. .

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