[에너지신문] 14 December 2015 - The UN climate conference of parties (COP) have reached an agreement to attempt to limit the increase in global temperatures to less than 2°C and to continue efforts to limit it to 1.5°C. So far, the implementation of national commitments (INDCs) is likely to limit the increase to 3°C. The countries will seek to peak greenhouse gas (GHG) emissions "as soon as possible" (no determined date) and to achieve a balance between emission sources and sinks of GHGs (oceans, forests, potentially CCS) in the second half of this century. The Paris Agreement invokes the ‘common but differentiated responsibilities’ (CBDR) principle: it excluded any compensation for the responsibility of developed countries for damages in developing countries. However, developed countries will provide US$100bn/year in climate finance for developing countries by 2020, with a commitment to further finance after 2020 (US$100bn/year as floor level, level to be estimated before 2025). The pledges must be increased over time and national targets will have to be reviewed every five years, starting in 2018.
Some parts of the agreement will be legally binding, such as submitting an emission reduction target and reviewing that goal regularly. However, the global agreement is not legally binding, what the United States had rejected, and the implementation of policies will be monitored by a to-be-created committee of experts without any sanction if countries fail to do their part.
Individual countries now must individually ratify or approve the agreement in their respective countries. To enter into force in 2020, the agreement will have to be ratified, accepted or approved by at least 55 countries accounting for 55% of global GHG emissions. However, at any time after three years from the date on which the agreement has entered into force for a country, that country may withdraw from the agreement by giving written notification.
-http://www.enerdata.net/enerdatauk/press-and-publication/energy-news-001/un-climate-conference-parties-reaches-non-binding-agreement_35409.html