In 1992, President George H.W. Bush joined 107 other heads of state at the Earth Summit in Rio, Brazil, to adopt a series of environmental agreements, including the UNFCCC framework, which is still in force today. The international treaty aims to prevent dangerous human interference in Earth`s climate systems in the long term. The Pact does not set limits on greenhouse gas emissions for each country and does not include enforcement mechanisms, but rather provides a framework for international negotiations on future agreements or protocols to set binding emission targets. Participating countries meet annually for a Conference of the Parties (COP) to assess their progress and continue discussions on how best to tackle climate change. However, at COP 24 or 25, the parties were unable to agree on the details of the implementation of Article 6 of the agreement, which deals with the use of carbon markets, and postponed these decisions to COP 26. These transparency and accountability provisions are similar to those of other international agreements. While the system does not involve financial sanctions, the requirements are aimed at easily tracking each nation`s progress and fostering a sense of global peer pressure, thus preventing any hesitation between countries considering doing so. The Paris Agreement is the first universal and legally binding global climate agreement adopted at the Paris Climate Change Conference (COP21) in December 2015. Under U.S.
law, U.S. participation in an international agreement may be terminated by a president acting on executive authority or by an act of Congress, regardless of how the U.S. has acceded to the agreement. The Paris Agreement stipulates that a Party may not withdraw from the Agreement within the first three years of its entry into force. “The starting point of $100 billion a year is useful, but still less than 8% of reported military spending worldwide each year.” The Paris Agreement was opened for signature on 22 April 2016 (Earth Day) at a ceremony in New York.  After several European Union states ratified the agreement in October 2016, enough countries that had ratified the agreement were producing enough greenhouse gases worldwide for the agreement to enter into force.  The agreement was signed on August 4. November 2016.  As of July 2020, the GCF had pledged $10.3 billion by 45 governments (including nine developing countries), $24.3 million by 3 regional governments, and $1.3 million by a municipal government. At the donor conference for the GCF`s first replenishment in October 2019, 27 countries pledged a total of $9.78 billion over the next four years, and further commitments have since been made.
Almost half of these countries have doubled or doubled their commitments. The Austrian government`s €100 commitment in September 2020 enabled the GCF to reach the $10 billion mark. The implementation of the agreement by all member countries will be evaluated every 5 years, the first evaluation will take place in 2023. The result will serve as a contribution to new Nationally Determined Contributions by Member States.  The assessment is not a contribution/achievement of individual countries, but a collective analysis of what has been achieved and what still needs to be done. Based solely on the current climate commitments of the Paris Agreement, temperatures are expected to have risen by 3.2°C by the end of the 21st century, according to the United Nations Environment Programme (UNEP). To limit the increase in global temperature to 1.5°C, annual emissions must be below 25 gigatons (Gt) by 2030. With the current commitments of November 2019, emissions will be 56 Gt CO2e by 2030, twice as much as the environmental target.
To limit the increase in global temperature to 1.5°C, the annual reduction in global emissions required between 2020 and 2030 is an annual reduction in emissions of 7.6%. The four largest emitters (China, the United States, eu27 and India) have contributed more than 55% of total emissions over the past decade, excluding emissions from land-use change such as deforestation. China`s emissions increased by 1.6% in 2018 to a peak of 13.7 Gt CO2 equivalent. The United States emits 13% of global emissions and emissions increased by 2.5% in 2018. The EU emits 8.5% of global emissions and has fallen by 1% per year over the last decade. Emissions decreased by 1.3% in 2018. India`s 7% of global emissions increased by 5.5% in 2018, but its per capita emissions are among the lowest in the G20.  Six years ago today, nearly 200 countries signed the Paris Climate Agreement, in which they agreed to keep the rise in global temperatures at 1.5 degrees Celsius compared to pre-industrial times. Scientists say the threshold is an absolute minimum to avoid catastrophic climate change. The goal of preventing what scientists consider dangerous and irreversible levels of climate change — which would be achieved at a warming of about 2°C compared to pre-industrial times — is at the heart of the deal. In July 2020, the World Meteorological Organization (WMO) announced that it estimated the probability of global warming at 20% above pre-industrial levels above 1.5°C in at least a year between 2020 and 2024, with 1.5°C being a key threshold under the Paris Agreement.
  Although the agreement was welcomed by many, including French President François Hollande and UN Secretary-General Ban Ki-moon, criticism also surfaced. .