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Commitments Under Paris Agreement

On 9. April 2021, in Allgemein, by Norman

While the enhanced transparency framework is universal and the global inventory is carried out every five years, the framework must provide „integrated flexibility“ to distinguish the capabilities of developed and developing countries. In this context, the Paris Agreement contains provisions to improve the capacity-building framework. [58] The agreement recognizes the different circumstances of some countries and notes, in particular, that the technical review of experts for each country takes into account the specific capacity of that country to report. [58] The agreement also develops a capacity-building initiative for transparency to help developing countries put in place the necessary institutions and procedures to comply with the transparency framework. [58] It covers all key areas, including transparency, funding, mitigation and adaptation, and provides flexibility to parties in need of their capabilities, while enabling them to implement their commitments in a transparent, comprehensive, comparable and consistent manner and to account for them. This provision requires the „link“ between different CO2 emission trading systems – since measured emission reductions must avoid „double counts,“ the transferred mitigation results should be considered as a gain on emission units for one part and as a reduction in emission units for the other party. [36] Due to the heterogeneity of NDCs and national emissions trading systems, ITMOs will provide a format for global connections under the aegis of the UNFCCC. [38] This provision also puts pressure on countries to implement emission management systems – if a country wants to use more cost-effective cooperative approaches to achieve its NPNs, they need to monitor carbon units for their economies. [39] President Trump is pulling us out of the Paris Climate Agreement. The EU`s national contribution to the Paris Agreement is to reduce greenhouse gas emissions by at least 40% by 2030 compared to 1990, as part of its broader climate and energy framework by 2030. All the main EU legislation to achieve this goal has been adopted by the end of 2018.

Indeed, research shows that the cost of climate activity far outweighs the cost of reducing carbon pollution. A recent study suggests that if the United States does not meet its climate targets in Paris, it could cost the economy up to $6 trillion in the coming decades. A lack of compliance with the NPNs currently foreseen in the agreement could reduce global GDP by more than 25% by the end of the century. Meanwhile, another study estimates that achieving – or even exceeding – the Paris targets by investing in infrastructure in clean energy and energy efficiency could have great benefits globally – about $19 trillion. According to the United Nations Environment Programme (UNEP), temperatures are expected to rise by 3.2oC by the end of the 21st century, based solely on the current climate commitments of the Paris Agreement. To limit the increase in global temperature to 1.5 degrees Celsius, annual emissions must be below 25 Gigaton (Gt) by 2030. With the current commitments of November 2019, emissions by 2030 will be 56 Gt CO2e, twice the environmental target. To limit the increase in global temperature to 1.5 degrees Celsius, an annual reduction in emissions of 7.6% is needed between 2020 and 2030.

 

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