Paris Agreement Asia

Transparency and accountability are the key to the success of the Paris Agreement. The agreement provides for a system of engagement and verification, not top-down objectives, with strict respect. The international regulatory system put in place for this purpose will ensure compliance with NDP commitments and enable all countries to achieve the overall goal of keeping temperature rise below 2oC in a consistent and compatible manner. To this end, an implementation and compliance committee has been set up, which operates in a transparent, non-contradictory and unpunished manner. The regular inventory of implementation of commitments made over a 5-year cycle from 2023 is a facilitation mechanism to monitor overall emissions trends, taking into account mitigation, adaptation, means of implementation and support, equity and the best available science. The national contributions set out in Paris (NDC) indicate that countries are willing to take measures to reduce their emissions in the context of their national situation. Although they do not achieve the goal of keeping global warming below 2oC, this should be seen as a small step in the context of greater ambition. The Paris Agreement seeks to keep the global temperature rise to a more ambitious 1.5oC, an early peak in emissions and a net zero emission world in the second half of the century. With these broad contours and a robust layout to monitor, report and verify mitigation measures; and a comprehensive review every five years to increase NDC ambitions, we must remain optimistic about the implementation of the commitments. Access to technology through the new technology framework put in place as a result of the agreement will also be essential for countries to benefit from institutional mechanisms that will be put in place in the coming years. But the outcome of the tight U.S. election campaign will determine how long.

Trump`s Democratic rival, Joe Biden, has promised to reinstate the deal when he is elected. First, it will be difficult to achieve the ambitious objectives of the agreement unless the private sector participates in content and relevance, but to do so, companies need the right political and financial signals to justify a redesign of their strategies.