Paris Agreement

The Paris Agreement, signed in 2015, is a great pact in the fight against climate change. It will take effect in 2020, at the end of the Kyoto protocol.

Framed in the 21st Conference to combat Climate Change, it encompassed a total of 195 countries. It came into force thanks to the support of more than 55 countries that accounted for more than 55% of greenhouse gas emissions worldwide.

Its objective is to reduce emissions while seeking to adapt to ecosystems and reduce the impacts of pollution on the environment..

Economic and environmental transition

Undoubtedly, this agreement represents an entire economic and industrial revolution, as it aims to achieve sustainable development through an economy based on low carbon emissions. Its application would be a complete revolution, since it would mean abandoning fossil fuels. Hence, the economies that most depend on these types of raw materials have tried to boycott these agreements.

The great objective is to ensure that the world temperature does not increase by more than 2 degrees Celsius compared to the pre-industrial stage. For this reason, the countries that ratified these agreements must strive to achieve that this increase in temperatures is less than 1.5 degrees Celsius with respect to the pre-industrial stage.

Each country developed its own national programs, reaching a series of commitments regarding the reduction of greenhouse gas emissions. It should be noted that compliance with these obligations will be monitored every five years.

Purchase and sale of carbon emission rights

An instrument within this agreement called the sale of emissions calls attention. All this consists of an international authority that issues a series of bonds that grant the right to emit a certain amount of polluting gases. In this way, those companies that want to pollute above the legally permitted levels will contact the most polluting companies to buy their emission rights. The spirit of this instrument is that the least polluting companies are also the most economically efficient companies.

Financing and compensation

Now, how is the fight against climate change and the damage caused by global warming financed? The answer lies in the creation of an annual fund of $ 100 billion annually. This large fund will be provided by the richest countries, providing the necessary resources so that the least developed countries have everything they need in the battle against global warming.

On the other hand, there will be a compensation mechanism for non-repairable environmental losses, although the amounts have not been specified either.

The withdrawal of the United States

However, with the arrival of Donald Trump to the White House in 2016, the United States made a drastic change in its environmental policy. President Trump, who advocates for economic expansion and the use of fossil fuels, withdrew the United States from the Paris Agreement. With the departure of the United States, a country that is a fundamental piece in the battle against climate change is lost. However, despite the departure of the Americans, the other countries have remained firm in their decision to continue within the framework of the Paris Agreement.

Criticism of the Paris Agreement

Criticisms of the Paris Agreement come from those who consider that the measures taken are insufficient. For this reason, there are those who consider that the emission cuts presented are insufficient. And, there are those who advocate a true energy transition, in which renewable energies end up replacing fossil fuels.

Another of the most controversial points of the agreements is the lack of protection for the least developed countries, which are those that suffer the most from climate change. In this sense, the problem lies in the lack of measures to protect the poorest countries.