The 21st session of the Conference of the Parties (COP21) to the United Nations Framework Convention on Climate Change (UNFCCC) was held in Paris from 30 November to 12 December 2015, attended by 195 United Nations. Nations negotiated and adopted the Paris Agreement. In accordance with the Paris Agreement, the Parties have the right to include emission reductions in any country other than their NDCs, in accordance with the Emissions Trading and Emissions Balance System. This is an agreement within the UNFCCC on the reduction, adaptation and financing of greenhouse gas emissions from 2020. The Paris Agreement is seen as a turning point for global climate policy. Countries are open to the creation of market-based global emission reduction mechanisms. The agreement would allow for global carbon trading that would allow countries to account for emission reductions through payments made in countries where reduction is less costly. In this context, the difference between the Kyoto Protocol and the Paris Agreement lies in the fact that such trade once/currently exists in limited regions and countries and that the Paris Agreement could have a chance to make it a global marketplace. The success of this agreement relies on less time that countries take them to reach desired/zero emission levels. It also depends on how countries like the United States, China, India and other countries define their future, especially the urban future. In addition, it would also be necessary to develop a common understanding of the growing needs for energy, transport, food, buildings and goods within redefined limits. This is essential because it ensures that the true potential of the Paris Agreement can be unleashed, including stepping up the fight against climate change, in order to achieve the central objective of the agreement, which is to keep the global average temperature as close as possible to 1.5 degrees Celsius.
This issue must be resolved in light of India`s long-term commitment to the “principle of justice”, “climate justice” and “common but differentiated responsibilities (CBDR)”. The Indian government says the Paris Agreement has recognized the imperative of climate justice and sustainable lifestyles and that developing countries have space for development and will benefit from financial support, technology transfer and capacity building from industrialized countries. The Paris Agreement falls under the UNFCCC, which is already very binding. As you say, it`s not legal. Third, the art of French diplomacy led to the conclusion of the agreement. He made sure that the voice of every country, big or small, was heard. Shri Javadekar said that the Paris Agreement was a solemn promise made by the international community to seven billion people, that we would work together to mitigate the challenges of climate change.