Consider the following statements regarding 39 Paris pact 39 The main goal of this pact is to ...........

Environment and Ecology Environment- Institutional Structure

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Consider the following statements regarding 'Paris pact'

The main goal of this pact is to bring down global temperature by 2 degree Celsius.
This non-binding agreement requires developed countries to continue a goal of “mobilizing” $100 billion of public and private finance for developing countries each year after 2020.
If it is ratified by more than 55 percent of nations or nations that cause 55 percent of global emissions, Paris will enter into force two years later, in 2020.

Which of the given above statement (s) is/ are correct?

1 and 3

1, 2 and 3

2 and 3

None of the above

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Explanation:

First option is correct.

Similar to Kyoto Protocol, the developed countries will need to provide finance to the developing countries for emission reduction actions as well as adaptation. The amount set by Paris Agreement is at least USD 100 billion per year from 2020 onward. However, as of now, there is no consensus on what exactly makes climate finance.

The countries will have to demarcate the details of these. Further, the Paris Agreement also provides that the developing countries can also voluntarily fund other developing countries.

Objectives of Paris Agreement -

The Paris Agreement sets an over-arching target of keeping the emissions in control so that either the rise in global temperature remains below 2°C by the turn of 21st century or as low as 1.5°C.
To achieve this goal, the countries will need to peak their emissions and then bring them down.
The other purposes of Paris Agreement are as follows: Increasing ability to adapt to the adverse impacts of the climate change and foster climate change resilience Making finance flows consistent with the pathway towards low greenhouse gas emissions and climate-resilient development.