The Paris Agreement on climate change is a landmark accord that aims to limit global temperature rise to below 2 degrees Celsius above pre-industrial levels, and to pursue efforts to limit the temperature increase even further, to 1.5 degrees Celsius. The agreement, which was reached in 2015, has been signed by 195 countries and ratified by 189, including the United States.
Article 9.4 of the Paris Agreement is an important provision that focuses on the need for developed countries to provide financial assistance to developing countries to help them transition to a low-carbon economy and adapt to the impacts of climate change. The article states that developed countries “shall provide financial resources to assist developing country Parties with respect to both mitigation and adaptation in continuation of their existing obligations under the Convention.”
While the Paris Agreement is a non-binding agreement, developed countries have committed to mobilizing $100 billion per year by 2020 to support developing countries in their efforts to address climate change. This financial assistance can be used for a range of activities, including clean energy projects, climate-resilient infrastructure, and capacity-building programs.
Article 9.4 also establishes a new transparency framework to track and report on the financial support provided by developed countries. The framework includes a biennial assessment process that will assess the progress made in meeting the financial commitments, as well as the effectiveness of the assistance provided.
The goal of Article 9.4 is to help ensure that developing countries are not left behind in the transition to a low-carbon economy, and that they have the resources and support they need to address the impacts of climate change. By providing financial assistance to help these countries adapt and reduce their greenhouse gas emissions, the Paris Agreement can help to reduce the global threat of climate change and create a more sustainable future for all.
In conclusion, Article 9.4 of the Paris Agreement is a critical provision that acknowledges the responsibility of developed countries to provide financial assistance to developing countries in their efforts to address climate change. By working together and providing support to those in need, we can create a more resilient and sustainable world for future generations.