Paris Agreement: 5 things you should know – IAS Mains
Paris Agreement: 5 things you should know – IAS Mains -India has formally joined the Paris climate change agreement, handing over its country’s official ratification documents to the United Nations.
The climate change plan was initially agreed upon by more than 180 countries at the Paris climate conference in 2015, but under its terms, it will not become binding until it is ratified by 55 countries that contribute a total of at least 55 percent of global greenhouse gas emissions.
The 55-country requirement has already been fulfilled — India is No. 62 — but the emissions percentage still falls short. Even with major polluters like the U.S. and China signing on early, and including India’s addition, the current signatories account for about 52 percent of global greenhouse emissions, according to a statement released by the U.N. on Sunday.
India currently produces about 4.5 percent of the world’s greenhouse gas emissions, and the country is developing quickly. The Paris agreement requires all countries who ratify it to come up with a national plan to limit global temperature rise, and as part of its plan India has set a goal of producing 40 percent of its electricity with non-fossil fuel sources by 2030.
With india formally joining the Paris Agreement on Sunday, here are five salient points about the deal:
- Along with India, 62 countries responsible for almost 52 per cent of greenhouse gas pollution have signed the accord.
- India, in its climate pledge — also known as Intended Nationally Determined Contribution (INDC) — submitted to the United Nations last October estimated a cost of $2.5 trillion for its climate-action plan.
- India will ask developed countries to provide $100 billion per year in climate finance for developing countries at the climate talks in November at Marrakech. Only $2bn has so far been received.
- Paris deal will only come into force 30 days after it is ratified by at least 55 countries that between them produce 55 per cent of global carbon emissions. After India, the European Union and Canada will likely ratify within a month.
- Paris Agreement was adopted by 185 nations last year on December 12 and India signed it in New York on April 22 this year. A total of 191 countries have signed the Paris Agreement so far.