The Paris Climate Agreement is an international treaty that aims to limit global warming to well below 2 degrees Celsius above pre-industrial levels while pursuing efforts to limit it even further to 1.5 degrees Celsius. It was adopted in 2015 by 196 parties at the 21st Conference of the Parties (COP21) to the United Nations Framework Convention on Climate Change (UNFCCC) and entered into force on November 4, 2016. The Paris Climate Agreement is built on five pillars, which are:
1. Mitigation
Mitigation refers to the measures taken to reduce greenhouse gas emissions and limit the amount of carbon dioxide in the atmosphere. The Paris Climate Agreement aims to reduce global greenhouse gas emissions to a level that can be absorbed by natural sinks such as forests and oceans. The agreement requires countries to submit Nationally Determined Contributions (NDCs), which are their individual targets and plans to reduce emissions, every five years.
2. Adaptation
Adaptation refers to the measures taken to cope with the impacts of climate change that cannot be avoided. The Paris Climate Agreement recognizes the need for adaptation to be a global response to address the adverse impacts of climate change, especially in developing countries. It requires parties to submit Adaptation Communications, which are their plans and actions to enhance adaptive capacity, strengthen resilience, and reduce vulnerability to climate change.
3. Finance
Finance refers to the financial resources required to implement mitigation and adaptation measures. The Paris Climate Agreement recognizes the need for developed countries to support developing countries in their efforts to address climate change. It establishes the goal of mobilizing $100 billion per year by 2020 from a variety of sources, both public and private, to support developing countries in their mitigation and adaptation efforts.
4. Technology
Technology refers to the development and transfer of environmentally sound technologies and know-how to support mitigation and adaptation efforts. The Paris Climate Agreement recognizes the role of technology in addressing climate change and encourages the development and transfer of technology, especially to developing countries.
5. Transparency
Transparency refers to the monitoring, reporting, and verification of parties` implementation of their NDCs and Adaptation Communications. The Paris Climate Agreement establishes a transparency framework that requires parties to submit regular reports on their emissions, progress in implementing their NDCs and Adaptation Communications, and support provided and received.
In conclusion, the Paris Climate Agreement is built on the pillars of mitigation, adaptation, finance, technology, and transparency. These pillars are interconnected and essential to achieving the goal of limiting global warming to well below 2 degrees Celsius above pre-industrial levels. By working together, parties to the agreement can make significant progress in addressing the challenges of climate change and creating a sustainable future for all.