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Paris Climate Agreement Nationally Determined Contributions

Many countries have stated in their INDCs that they intend to use some form of international emissions trading scheme to implement their contributions. In order to ensure the environmental integrity of these transactions, the agreement requires the parties to respect accounting practices and to avoid double counting of “mitigation results transferred internationally.” In addition, the agreement will create a new mechanism that would help contain and support sustainable development and could produce or certify negotiable emission units according to its design. The 2015 Paris Climate Change Conference (COP 21) catalyzed an unprecedented vision of combating climate change and engagement by a wide range of non-state actors, including businesses and investors, sub-national governments and civil society organizations. Governments have taken a series of measures in … The INDCs include emission reduction measures and also aim to take into account the measures taken to adapt to the effects of climate change and the assistance the country needs or will provide to deal with climate change. The first INDC presentation in March 2015 was followed by an evaluation phase to verify the impact of INDC presented ahead of the 2015 UN climate change conference. [3] The Paris Agreement reaffirms the obligations of industrialized countries to the UNFCCC; the COP`s decision attached to the agreement extends the target of $100 billion per year until 2025 and calls for a new target that, in addition, “extends over $100 billion a year.” The agreement also broadens the donor base beyond developed countries by encouraging other countries to provide “voluntary” support. China, for example, pledged $3 billion in 2015 to help other developing countries. According to the Intergovernmental Panel on Climate Change, human-caused emissions – such as fossil vehicles and power plants – must be reduced by almost half from the most recent levels by 2030, and then reach net zero by the beginning of the second half of the century to avoid the most dangerous and costly consequences of climate change.