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The Paris Agreement

& global pledges on climate neutrality

The Paris Agreement, which entered into force in 2016, is the new cornerstone for the global effort on climate change for the coming years. It has secured global participation in record time. This is a major achievement given a political context in which multilateral efforts are coming under increasing pressure.

One of the main characteristics of the Paris Agreement is that the distinction between “developed” and “developing” countries is far more nuanced than under the Convention and the Kyoto Protocol, placing greater emphasis on national circumstances. The Convention principle of “common but differentiated responsibilities and respective capabilities” has been secured through the bottom-up approach of the Agreement.

To achieve the “well below 2°C” objective will require a tight management of the 5- year ambition cycle. Another main challenge is to ensure that all Parties follow the detailed rules on transparency and accountability agreed in the Rule Book at the Conference of the Parties – COP24 in Katowice at the end of 2018. This will require a combination of capacity building support, technical expert review and peer pressure to create the right combination of incentives for implementation and compliance.

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Carbon Markets: Examining EU Policies for Transnational Climate Action

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