Intro to International Business

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Paris Agreement

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Intro to International Business

Definition

The Paris Agreement is a landmark international treaty established in 2015 to combat climate change and limit global warming to well below 2 degrees Celsius above pre-industrial levels. This agreement emphasizes the importance of sustainable development and highlights the commitment of nations to reduce greenhouse gas emissions through nationally determined contributions (NDCs), fostering collaboration and accountability in addressing environmental challenges.

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5 Must Know Facts For Your Next Test

  1. The Paris Agreement was adopted by 196 countries at COP21 in Paris on December 12, 2015, and has since become a crucial framework for international climate action.
  2. The agreement sets a goal to limit global warming to well below 2 degrees Celsius and to pursue efforts to limit the temperature increase to 1.5 degrees Celsius.
  3. Countries participating in the agreement must submit their NDCs every five years, with each submission representing an increase in ambition compared to previous commitments.
  4. Financial support for developing countries is a key aspect of the agreement, enabling them to invest in climate adaptation and mitigation efforts.
  5. The Paris Agreement is legally binding on its members, although each country's commitments are voluntary and non-punitive.

Review Questions

  • How does the Paris Agreement facilitate international cooperation in combating climate change?
    • The Paris Agreement facilitates international cooperation by establishing a common framework for countries to collaborate on climate action. It requires nations to set their own emission reduction targets, known as nationally determined contributions (NDCs), which promotes accountability as countries report progress on their commitments. This collaborative approach fosters a shared responsibility among nations to mitigate climate change while allowing flexibility for each country to tailor its efforts according to its unique circumstances.
  • Discuss the implications of the financial support provisions within the Paris Agreement for developing countries.
    • The financial support provisions within the Paris Agreement have significant implications for developing countries, which often lack the resources needed for effective climate action. By providing funding and resources, developed nations help these countries invest in renewable energy, improve infrastructure resilience, and enhance their capacity for climate adaptation. This support not only aids in achieving their NDCs but also promotes sustainable development, ensuring that vulnerable populations are better equipped to deal with the impacts of climate change.
  • Evaluate the effectiveness of the Paris Agreement in achieving its goals since its inception and discuss potential improvements for future climate negotiations.
    • Since its inception, the effectiveness of the Paris Agreement has been mixed. While it has successfully mobilized global attention and encouraged many countries to adopt more ambitious climate policies, actual progress towards limiting global warming remains insufficient. To improve future climate negotiations, there needs to be a stronger emphasis on enforcing compliance with commitments and increasing transparency among nations. Additionally, enhancing financial mechanisms for developing countries and encouraging technological innovation will be essential in bridging the gap between current efforts and the urgent need for substantial global emissions reductions.

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