Paris Agreement Gktoday

On 12 December 2015, the Paris Agreement was adopted as an agreement within the framework of the UNFCCC. On April 22, 2016, Earth Day, 175 countries from around the world signed the agreement at the UN headquarters in New York, USA. India was also one of the 175 countries that signed it. The agreement came into force on November 4, 2016. The Paris Agreement will replace the Kyoto Protocol after the end of its second commitment period on 31 January 2020. The Paris Agreement put in place a technological mechanism that would help countries cooperate in the development and use of clean technologies. However, this would run up against some issues relating to the intellectual property rights of existing clean technologies. 175 nations, including India, signed the historic Paris climate agreement at UN headquarters in New York, taking an important step in the fight against global warming. On behalf of India, EU Environment Minister Prakash Javadekar signed the agreement at a high-level ceremony hosted by UN Secretary-General Ban Ki-moon on Earth Day. During COP-16 in Cancun, the issue of governance of the CWG was entrusted to the newly created Green Climate Fund Council and the World Bank was selected as a temporary agent.

[3] In order to develop a concept for how the GCF works, the “Transition Committee for the Green Climate Fund” was also established in Cancun. The committee met four times in 2011 and presented a report to the 17th COP in Durban, South Africa. On the basis of this report, the COP decided that the “GCF will become an operational unit of the financial mechanism” of the UNFCCC[5] and that the necessary rules should be adopted at COP-18 in 2012 to ensure that the CGDC “is responsible and must be held accountable under the leadership of the COP.” [5] Researchers at the Overseas Development Institute say that without this last-minute agreement on a government instrument for the GCF, the “African COP” would have been considered a failure. [6] In addition, the CWG Council has been tasked with developing rules and procedures for disbursing funds to ensure that they are consistent with the national objectives of the countries where projects and programmes are implemented. The CWG Board of Directors was also responsible for the establishment of an independent secretariat and a permanent director of the GCC. [5] Countries are open to participation in market-based mechanisms to reduce global emissions. The agreement would allow for a global emissions trading system that would allow countries to obtain credits for emission reductions by making payments in the same way in countries where a reduction is less costly. In this context, the difference between the Kyoto Protocol and the Paris Agreement lies in the fact that past or current trade excritists in limited regions and countries and the Paris Agreement could have a chance to make it a global market. Third, the art of French diplomacy led to the conclusion of the agreement. It has ensured that the voice of each country, large or small, is heard.

The success of this agreement is a function of less time that countries take to reach the expected/zero emission levels.