Aftermath Of Paris Agreement
The pioneering agreement reached in 2015 aims to limit global warming to a level “well below” 2 degrees Celsius above pre-industrial temperatures. But in June 2017, U.S. President Donald Trump announced that the United States – the world`s second-largest emitter of greenhouse gases – would pull out of the agreement. The NRDC is working to make the Global Climate Climate Action Summit a success by inspiring more ambitious commitments to the historic 2015 agreement and enhanced pollution reduction initiatives. 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. Trump`s exit from the Paris accord will have an impact on other countries by cutting financial assistance to the Green Climate Fund.
 The end of US funding of $3 billion will have a final impact on climate change research and will reduce society`s chances of meeting the Paris Agreement goals and omit U.S. contributions to future IPCC reports.   Trump`s decision will also affect CO2 emission space and carbon prices.  The withdrawal of the United States will also mean that the place where the global climate regime can be adopted will be accessible to China and the EU.  “It is unlikely that the Paris Agreement will survive as a serious international agreement that really motivates countries to do things they would not otherwise do” if Trump remained president, she said.