THE GREAT PARIS AGREEMENT: COP21 MAJOR OUTCOMES AND AGREEMENTS

Climate change is one of the most pressing challenges of our time, impacting ecosystems, economies, and communities around the globe. The urgency to address this crisis has never been greater, as rising temperatures, extreme weather events, and shifting climate patterns threaten the stability of our planet. In this context, the 21st Conference of the Parties (COP 21) held in Paris in December 2015, marked a pivotal moment in international climate diplomacy.

Oaks Intelligence

Published May 24, 2024

Environment and Climate

IntroductionClimate change is one of the most pressing challenges of our time, impacting ecosystems, economies, and communities around the globe. The urgency to address this crisis has never been greater, as rising temperatures, extreme weather events, and shifting climate patterns threaten the stability of our planet. In this context, the 21st Conference of the Parties (COP 21) held in Paris in December 2015, marked a pivotal moment in international climate diplomacy. It was during this historic conference that the Paris Agreement was adopted, a landmark accord that brought together nearly 200 countries with a shared commitment to combat climate change and to accelerate and intensify the actions and investments needed for a sustainable low carbon future.The Paris Agreement is significant not only for its ambitious goals but also for its inclusive and flexible framework, which allows each country to contribute according to its capabilities and circumstances. Unlike previous climate accords, the Paris Agreement emphasizes a bottom-up approach, with countries submitting their own Nationally Determined Contributions (NDCs) and committing to regular reviews and updates. This dynamic framework aims to foster transparency, accountability, and global cooperation, essential for achieving the long-term goal of keeping global temperature rise well below 2 degrees Celsius above pre-industrial levels, and to pursue efforts to limit the temperature increase even further to 1.5 degrees Celsius.

COP21 PARIS Illustration/ Oaks Intelliegence

In this article, we will consider the major outcomes and agreements of COP 21, and explore key elements of the Paris Agreement and the commitments made by participating nations. We will examine the strategies outlined for mitigating climate change, the financial mechanisms established to support these efforts, and the ongoing challenges and opportunities that lie ahead.Background on COP 21What is COP 21?The Conference of the Parties (COP) is the supreme decision-making body of the United Nations Framework Convention on Climate Change (UNFCCC). Established in 1992, the UNFCCC aims to stabilize greenhouse gas concentrations in the atmosphere to prevent dangerous anthropogenic interference with the climate system. The COP meets annually to assess progress in dealing with climate change and to negotiate and adopt legal instruments to achieve the Convention's objectives. COP 21, the 21st session of this conference, took place in Paris from November 30 to December 12, 2015, and was attended by representatives from 196 countries.Importance of the 21st Session Held in ParisCOP 21 was particularly significant as it aimed to produce a legally binding and universal agreement on climate change, applicable to all countries for the first time. Previous climate negotiations, such as those leading to the Kyoto Protocol, had faced limitations and criticisms, including their narrow scope and the lack of commitments from major emitting countries like the United States and China. The Paris conference sought to overcome these challenges by creating a more inclusive and flexible framework that could engage all nations in meaningful climate action.Historical ContextPrior to COP 21, the international community had made several attempts to address climate change through various agreements and protocols. The Kyoto Protocol, adopted in 1997 and entered into force in 2005, was one of the first major international treaties aimed at reducing greenhouse gas emissions. However, it only required developed countries to reduce their emissions, leading to criticisms about its fairness and effectiveness. Additionally, the United States, the world's second-largest emitter at the time, never ratified the protocol, further weakening its impact.The limitations of the Kyoto Protocol highlighted the need for a more comprehensive and inclusive approach. This led to the adoption of the Bali Action Plan in 2007, which laid the groundwork for a new global agreement that would involve all countries. The Copenhagen Accord of 2009 and the Cancun Agreements of 2010 also made progress in bringing countries together, but fell short of achieving a binding and universal treaty.By the time COP 21 convened in Paris, there was a broad consensus on the urgent need for a new approach to climate governance. The stakes were higher than ever, with scientific reports warning of the severe consequences of unchecked global warming. The Intergovernmental Panel on Climate Change (IPCC) had released its Fifth Assessment Report in 2014, emphasizing the critical need to limit global temperature rise to avoid catastrophic impacts.Objectives of COP 21The main objective of COP 21 was to create a comprehensive framework that would enable all countries to take action against climate change, while also providing the flexibility to accommodate their differing circumstances and capacities. This involved several key goals:

Global Temperature Goals: Setting a clear target to limit global warming to well below 2 degrees Celsius above per-industrial levels, with an aspiration to limit the increase to 1.5 degrees Celsius.
Nationally Determined Contributions (NDCs): Allowing each country to define its own climate action plan, tailored to its specific conditions, and committing to regularly update and enhance these plans.
Support for Developing Countries: Establishing mechanisms for financial assistance, technology transfer, and capacity building to help developing nations implement their climate plans and adapt to the impacts of climate change.
Transparency and Accountability: Creating robust mechanisms for monitoring, reporting, and verifying progress, to ensure that countries adhere to their commitments and to build trust among parties.
Long-term Vision: Developing a long-term strategy for achieving a global balance between greenhouse gas emissions and removals by the second half of the century.

By addressing these objectives, COP 21 aimed to lay the foundation for a global effort to combat climate change, fostering collaboration and solidarity among nations. The resulting Paris Agreement was a testament to the collective will of the international community to tackle one of the greatest challenges of our time.Key Outcomes of the Paris AgreementGlobal Temperature GoalsOne of the most significant outcomes of the Paris Agreement is the establishment of clear and ambitious global temperature goals. The agreement sets out to limit global warming to well below 2 degrees Celsius above pre-industrial levels, with a concerted effort to keep the increase to 1.5 degrees Celsius. This ambitious target reflects the scientific consensus that surpassing these thresholds would result in severe and potentially irreversible impacts on ecosystems, weather patterns, and sea levels. By aiming for the lower 1.5-degree limit, the Paris Agreement acknowledges the urgent need to protect vulnerable regions and communities that are disproportionately affected by climate change.Nationally Determined Contributions (NDCs)A cornerstone of the Paris Agreement is the concept of Nationally Determined Contributions (NDCs). Unlike previous climate agreements that imposed top-down emissions targets, the Paris Agreement allows each country to determine its own climate action plan based on its unique circumstances and capabilities. These NDCs outline the efforts each country will make to reduce greenhouse gas emissions and adapt to the impacts of climate change. Importantly, the agreement mandates that countries update and enhance their NDCs every five years, fostering a dynamic and progressive approach to climate action. This mechanism encourages countries to continuously improve their efforts and take advantage of technological advancements and policy innovations.Regular Review and TransparencyTo ensure the effectiveness and integrity of the Paris Agreement, robust mechanisms for regular review and transparency are established. The agreement introduces a transparency framework that requires countries to regularly report on their greenhouse gas emissions, progress in implementing their NDCs, and any support provided or received in terms of finance, technology, and capacity building. This framework is designed to build mutual trust and confidence among parties, as well as to provide clarity on collective progress toward achieving the long-term temperature goals. The agreement also includes provisions for a "global stocktake" every five years, which will assess the collective progress of all countries and inform the preparation of updated NDCs.Financial SupportRecognizing that developing countries often lack the resources to implement ambitious climate actions, the Paris Agreement places a strong emphasis on financial support. Developed countries commit to mobilizing $100 billion per year by 2020 to assist developing nations in their mitigation and adaptation efforts. This funding is to be extended through 2025, with a new collective quantified goal to be set thereafter. The Green Climate Fund plays a crucial role in channeling this financial support, helping countries build resilience, reduce emissions, and transition to low-carbon economies. The agreement also encourages the private sector and other non-state actors to contribute to climate finance, thereby broadening the base of financial support.Adaptation and ResilienceThe Paris Agreement acknowledges that mitigation alone is insufficient to address the impacts of climate change, emphasizing the need for adaptation and resilience. Countries are encouraged to develop and implement adaptation plans and strategies, which include measures to protect livelihoods, enhance water and food security, and safeguard ecosystems. The agreement also establishes a global goal on adaptation, aiming to enhance adaptive capacity, strengthen resilience, and reduce vulnerability to climate change. By prioritizing adaptation, the Paris Agreement aims to support those most affected by climate impacts, particularly in developing and least-developed countries.Technology Development and TransferInnovation and technological advancement are critical to achieving the goals of the Paris Agreement. The agreement promotes the development and transfer of climate-friendly technologies to support mitigation and adaptation efforts. This includes enhancing research and development, as well as facilitating access to technologies that can help countries reduce emissions and build resilience. The Technology Mechanism, which comprises the Technology Executive Committee and the Climate Technology Centre and Network, plays a key role in implementing this aspect of the agreement. By fostering international cooperation on technology, the Paris Agreement aims to bridge the gap between developed and developing countries in accessing the tools needed for effective climate action.

Technological Gap/ Oaks Intelligence

Capacity BuildingTo ensure that all countries can effectively participate in the global climate effort, the Paris Agreement includes provisions for capacity building. This involves enhancing the abilities of developing countries to plan, implement, and report on climate actions. The agreement calls for the establishment of a Paris Committee on Capacity building, which coordinates support activities and facilitates the sharing of best practices and knowledge. Capacity building is essential for empowering countries to develop robust climate policies, access financial resources, and leverage technology and innovation. By focusing on capacity building, the Paris Agreement seeks to create a level playing field where all nations can contribute to and benefit from global climate efforts.The key outcomes of the Paris Agreement reflect a comprehensive and multifaceted approach to addressing climate change. From ambitious temperature goals and nationally determined contributions to financial support, adaptation, technology transfer, and capacity building, the agreement lays the foundation for a sustained and cooperative global effort. These outcomes represent a significant step forward in the international community's resolve to combat climate change and protect our planet for future generations.Implementation and Future StepsImplementation MechanismsThe Paris Agreement's success hinges on effective implementation mechanisms that translate commitments into tangible actions. Central to this process are the Nationally Determined Contributions (NDCs), which serve as the foundation for each country's climate action plan. Countries are required to prepare, communicate, and maintain successive NDCs that reflect their highest possible ambition. These contributions are then subject to a rigorous system of monitoring, reporting, and verification (MRV) to ensure transparency and accountability.The agreement establishes a robust MRV framework, where countries must submit biennial reports on their greenhouse gas inventories and progress in implementing and achieving their NDCs. These reports undergo technical expert reviews and are complemented by a facilitative, multilateral consideration of progress. This system is designed to provide clarity on individual and collective efforts, thereby fostering trust and confidence among parties.To support the implementation of NDCs, the Paris Agreement also emphasizes the importance of creating enabling environments. This includes the development of domestic policies and measures, institutional frameworks, and capacity-building initiatives that facilitate climate action. Countries are encouraged to integrate climate goals into national development plans, aligning their economic, social, and environmental objectives.Global StocktakeThe global stocktake is a critical component of the Paris Agreement's implementation framework, serving as a periodic assessment of collective progress towards achieving the agreement's long-term goals. Conducted every five years, the global stocktake evaluates the overall effectiveness of the climate actions taken by all parties, considering mitigation, adaptation, and means of implementation (such as finance, technology, and capacity building).The purpose of the global stocktake is to inform and enhance future NDCs, ensuring that countries continually increase their ambition over time. By providing a comprehensive overview of global efforts, the stocktake helps identify gaps, highlight best practices, and foster international cooperation. It also serves as a platform for countries to reaffirm their commitments and align their actions with the latest scientific findings and technological advancements.The first global stocktake was scheduled for 2023, marking a significant milestone in the Paris Agreement's implementation journey. The outcomes of the stocktake will guide countries in updating and strengthening their NDCs for the subsequent cycle, thereby driving continuous progress towards the agreement's goals.Criticisms and ChallengesCritiques of the Paris AgreementDespite its groundbreaking nature, the Paris Agreement has faced several criticisms from various stakeholders. One of the primary critiques is that the agreement's targets and commitments are not legally binding. Unlike the Kyoto Protocol, which imposed mandatory emission reduction targets on developed countries, the Paris Agreement relies on voluntary, self-determined commitments. This flexibility has been both a strength and a weakness. While it has enabled broader participation, it has also led to concerns about the sufficiency and reliability of the commitments.Another significant criticism is that the current Nationally Determined Contributions (NDCs) are inadequate to meet the agreement's long-term temperature goals. According to various analyses, the combined effect of the current NDCs is likely to result in a global temperature rise of around 3 degrees Celsius by the end of the century, far exceeding the 1.5 to 2 degrees Celsius target. This gap between ambition and action underscores the need for more aggressive and immediate climate policies.Challenges in EnforcementThe Paris Agreement's reliance on transparency and peer pressure rather than legally binding enforcement mechanisms presents a notable challenge. While the agreement includes provisions for monitoring, reporting, and verifying progress, there are no penalties for countries that fail to meet their commitments. This has raised concerns about the effectiveness of the agreement in ensuring compliance and accountability. The success of the agreement largely depends on the political will and good faith of the participating countries, which can be influenced by domestic political and economic conditions.Political and Economic BarriersPolitical and economic barriers are significant obstacles to the implementation of the Paris Agreement. In many countries, climate policy is subject to political dynamics that can hinder or reverse progress. Changes in government, policy priorities, and public opinion can all impact a country's commitment to climate action. For instance, the United States' withdrawal from the Paris Agreement under the Trump administration, followed by its re-entry under the Biden administration, exemplifies how political shifts can affect international climate commitments.Economic factors also play a crucial role in shaping climate policy. The transition to a low-carbon economy requires substantial investments in renewable energy, infrastructure, and technology. For many developing countries, limited financial resources and competing development priorities can make it challenging to allocate sufficient funds for climate action. Additionally, countries that are heavily dependent on fossil fuels face economic and social challenges in transitioning to cleaner energy sources, as this shift can impact jobs, industries, and revenue.Financial SupportThe provision of financial support to developing countries is a cornerstone of the Paris Agreement, but it has also been a source of contention and challenge. Developed countries have pledged to mobilize $100 billion per year in climate finance by 2020 to assist developing nations in their mitigation and adaptation efforts. However, the actual disbursement of these funds has often fallen short of expectations. Ensuring predictable and adequate financial flows is essential for enabling developing countries to implement their NDCs and build resilience to climate impacts.Moreover, the complex and fragmented nature of climate finance can pose challenges for developing countries in accessing the necessary funds. Navigating the various funding mechanisms, meeting eligibility criteria, and fulfilling reporting requirements can be daunting, particularly for countries with limited institutional capacity.Technological and Capacity GapsAccess to technology and capacity building support is critical for the effective implementation of the Paris Agreement, but disparities in technological and institutional capacities remain a significant challenge. Developing countries often lack the advanced technologies needed for reducing emissions and adapting to climate change. Additionally, limited technical expertise and institutional frameworks can hinder their ability to design and implement effective climate policies.The Paris Agreement addresses these issues through provisions for technology development and transfer and capacity building. However, ensuring that these mechanisms are effective and equitable requires ongoing international cooperation and support. Bridging the technological and capacity gaps is essential for enabling all countries to participate fully in global climate efforts.Addressing Loss and DamageAnother contentious issue within the Paris Agreement is the concept of loss and damage, which refers to the impacts of climate change that cannot be mitigated or adapted to. Developing countries, particularly small island states and least developed countries, have advocated for stronger provisions on loss and damage, seeking financial support and compensation for the irreversible impacts of climate change. The establishment of the Warsaw International Mechanism for Loss and Damage under the UNFCCC was a step in this direction, but debates continue over the extent and nature of support that should be provided.The Way ForwardThe Paris Agreement sets a clear pathway for global climate action, but its success ultimately depends on sustained commitment and collaboration from all stakeholders. Governments, businesses, civil society, and individuals each have a role to play in advancing the goals of the agreement.National governments must continue to demonstrate leadership by updating their NDCs, implementing robust climate policies, and fostering an enabling environment for climate action. They should also work to enhance international cooperation, leveraging multilateral platforms to share knowledge, mobilize resources, and coordinate efforts.The private sector can drive innovation and investment in low-carbon technologies and sustainable practices. Businesses can adopt science-based targets, improve energy efficiency, and develop climate-resilient supply chains. Financial institutions can support the transition by aligning their portfolios with climate goals and increasing funding for green projects.Civil society organizations and individuals play a crucial role in advocating for climate action, raising awareness, and holding governments and businesses accountable. Grassroots movements, community initiatives, and educational programs can mobilize public support and drive behavioral change.ConclusionThe Paris Agreement stands as a landmark achievement in the global fight against climate change, setting ambitious goals and establishing a flexible framework for countries to combat this pressing issue. Its inclusive approach, emphasizing nationally determined contributions (NDCs) and regular reviews, has been instrumental in engaging nearly every nation in the pursuit of a sustainable future. However, as we look back and evaluate the progress made, it becomes clear that the journey is far from complete.The COP28 UN Climate Change Conference held in Dubai, United Arab Emirates, from November 30 to December 13, 2023, underscored both the achievements and the gaps in our global climate efforts. This conference, the largest of its kind with 85,000 participants and over 150 Heads of State and Government, marked the conclusion of the first global stocktake under the Paris Agreement. The findings of this stocktake were sobering, revealing that progress remains too slow across all areas of climate action. From reducing greenhouse gas emissions to enhancing resilience and securing financial and technological support for vulnerable nations, the world is not on track to meet the Paris Agreement’s goals.In response to these findings, COP28 saw a decisive push for accelerated action by 2030. Countries were called upon to expedite their transition from fossil fuels to renewable energy sources such as wind and solar power in their next round of climate commitments. This decisive action is essential to bridge the gap between current efforts and the targets necessary to limit global warming to well below 2 degrees Celsius, with an aspiration of 1.5 degrees Celsius.The outcome of COP28 highlights the urgent need for increased ambition and cooperation. It is a call to action for governments, businesses, civil society, and individuals to redouble their efforts and work collaboratively towards a common goal. The lessons learned and the commitments made at COP28 should serve as a catalyst for accelerated climate action, ensuring that the principles of the Paris Agreement are fully realized.As we move forward, the path is clear: we must strengthen our resolve, enhance our commitments, and leverage every available resource to address the climate crisis. The Paris Agreement provides the foundation, but its success depends on our collective will and determination. By embracing the challenges and seizing the opportunities presented, we can create a resilient and sustainable future for all.

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