The Paris Agreement, drawn up for two weeks in Paris at the 21st United Nations Conference of the Parties (COP21) on Climate Change (UNFCCC) and adopted on 12 December 2015 marked a historic turning point in the fight against global climate change, as world leaders representing 195 nations agreed on an agreement containing commitments from all countries to combat climate change and adapt to its impact. President Trump is pulling us out of the Paris climate agreement. Under the Paris Agreement, each country must define, plan and report regularly on its contribution to the fight against global warming.  There is no mechanism for a country to set an emission target for a specified date, but any target should go beyond the previous targets. The United States formally withdrew from the agreement the day after the 2020 presidential election, although President-elect Joe Biden said America would return to the agreement after his inauguration.  INDIA has addressed the challenges of eradicating poverty while reducing greenhouse gas emissions. About 24% of the world`s population without access to electricity (304 million) lived in India. Nevertheless, the country planned to «reduce the intensity of its GDP emissions by 33-35% by 2030» from 2005 levels. The country has also attempted to buy about 40% of its electricity from renewable energy sources, not fossil fuels by 2030. INDC found that implementation plans would not be affordable from national resources: it estimated that it would take at least $2.5 trillion to implement climate change measures by 2030. India would achieve this through the transfer of technology (transfer of capacity and equipment from the most developed countries to less developed countries [LDCs]) and international funding, including support from the Green Climate Fund (an end-to-end investment support program in low-emission technologies and the development of populations vulnerable to the effects of climate change). Recognizing that many developing countries and small island developing states that have contributed the least to climate change are most likely to suffer the consequences, the Paris Agreement contains a plan for developed countries – and others that are able to do so – to continue to provide financial resources to help developing countries reduce and increase their capacity to withstand climate change. The agreement builds on the financial commitments of the 2009 Copenhagen Accord, which aimed to increase public and private climate finance to developing countries to $100 billion per year by 2020.
(To put it in perspective, in 2017 alone, global military spending amounted to about $1.7 trillion, more than a third of which came from the United States. The Copenhagen Pact also created the Green Climate Fund to mobilize transformation funding with targeted public dollars. The Paris agreement expected the world to set a higher annual target by 2025 to build on the $100 billion target by 2020 and create mechanisms to achieve this. Since the Kyoto Protocol came into force, the Clean Development Mechanism has been criticized because, in most cases, it has not brought significant emission reductions or benefits for sustainable development.  It has also suffered from low prices from Certified Emission Reductions (REFs), which has reduced project demand. These criticisms have motivated the recommendations of various interest groups who, through working groups and reports, have provided new elements that they hope to see in the MDS that will support their success.  Details of the governance structure, the terms of the project proposal and the comprehensive approach should be detailed at the conference of the parties to be held in Marrakech in 2016. [must update] The other Holdout, Uzbekistan, finally signed the agreement last month.