10 Points You Must Know About UN Paris Climate Agreement
① The Paris Agreement is an international treaty (legal binding) on climate change which was adopted by 196 nations at COP 21 in Paris, on December 12, 2015.
② It came into force on November 4, 2016.
③ The agreement is all about to reduce global warming to well below 2, preferably to 1.5 degrees Celsius, when compared to pre-industrial levels.
④ To achieve this goal, all signed parties (nations) need to reduce greenhouse gas emissions as soon as possible to achieve a climate-neutral world by mid-century.
⑤ The Paris Agreement works on a 5- year cycle of a climate action plan to be carried out by countries and they need to submit their climate action
plans called Nationally Determined Contributions (NDCs).
⑥ In addition countries have to formulate non-mandatory long-term low greenhouse gas emission development Strategies called LT-LEDs.
⑦ Starting 2024, countries will start reporting their progress by establishing an enhanced transparency framework (ETF). It will act as feedback for the next five-year climate action plan (NDC).
⑧ Zero-carbon solutions are becoming competitive across economic sectors representing 25% of emissions. It is estimated by 2030, zero-carbon solutions could be competitive in sectors representing over 70% of global emissions.
⑨ The Ministry of Environment, Forest and Climate Change (MoEFCC) has constituted a top-level Committee for Implementation of the Paris Agreement (AIPA). It is an inter-ministerial committee.
⑩ AIPA will generate and monitor the progress of implementation of its Nationally Determined Contributions (NDC) action plan. It will also regulate carbon markets in India under Article 6 of the Paris Agreement and will formulate guidelines for carbon pricing.