
The much-awaited Paris Agreement on climate change was adopted by all members of the United Nations Framework Convention on Climate Change (UNFCCC) on Saturday. The Agreement will now be open for ratification by each member nation from April 2016 onwards. Some highlights from the draft text:
Achievements for developing countries
Mitigation, review and reporting get rid of ‘differentiation’
Finance
Loss and Damage
Trading mechanism created
Ambition and carbon budget
There will be ratcheting up without principle of fair use of carbon budget established. As per the decisions: