Paris Climate Agreement Financial Contributions by Country

The Paris Climate Agreement, adopted in 2015 by the United Nations Framework Convention on Climate Change, is a crucial international agreement that aims to limit global warming to well below 2 degrees Celsius above pre-industrial levels, with the ambition to limit it to 1.5 degrees. The main objective of the agreement is to reduce greenhouse gas emissions and keep the global temperature rise in check.

One of the key components of the Paris Climate Agreement is financial contributions from developed countries to assist developing countries in reducing their greenhouse gas emissions and adapting to the impacts of climate change. These financial contributions aim to support developing countries in their efforts to transition to low-carbon and climate-resilient economies.

According to the Paris Climate Agreement, developed countries have committed to providing financial resources in the form of grants, concessional loans, and other financial instruments to support developing countries in their efforts to mitigate and adapt to climate change. The financial contributions are also intended to help developing countries build their capacity to monitor and report on their emissions and adaptation efforts.

The Paris Climate Agreement requires developed countries to collectively mobilize $100 billion per year by 2020 to support developing countries in their efforts to tackle climate change. This funding will be used to support mitigation and adaptation efforts, as well as to support technology development and transfer, and capacity building.

As of 2021, the total amount of financial contributions pledged by developed countries to support developing countries in their climate change efforts has reached $79.6 billion, according to the Organisation for Economic Co-operation and Development (OECD). Although this falls short of the $100 billion target set for 2020, significant progress has been made towards achieving this goal.

Some of the largest contributors to the Green Climate Fund, which was established to support the Paris Climate Agreement`s financial commitments, include Germany, Japan, the United Kingdom, France, and the United States. These countries have collectively pledged billions of dollars in financial contributions to support the transition to low-carbon and climate-resilient economies in developing countries.

In conclusion, financial contributions from developed countries are a crucial component of the Paris Climate Agreement, helping to support developing countries in their efforts to tackle climate change. Despite falling short of the $100 billion target set for 2020, significant progress has been made towards achieving this goal, with developed countries pledging billions of dollars in financial contributions to support the transition to low-carbon and climate-resilient economies in developing countries.

Scroll to Top
Get your Hamper
1
Scan the code
Limited Deal

GET 18 in 1 RAKHI HAMPER AT JUST Rs.699/-

Order Now