Paris Accord of 2015 Current Affairs - 2020

Russia formally joins Paris Agreement on Climate Change

Russia has formally accepted the 2015 Paris agreement on Climate Change. The Prime Minister of Russia Dmitry Medvedev has recently signed a document in this regard. As per the document Russia will now allocate financial resources towards developing countries for prevention of and adaptation to climate change.

Key Highlights

United Nations Climate Action Summit in New York: The formal support by Russia to Paris climate agreement comes came just hours ahead of a new major UN climate summit. The new major Climate Action Summit in New York is aimed towards reinvigorate faltering Paris accord as mankind is releasing more greenhouse gases than ever into the atmosphere. It is trying to tackle ever increasing gas emissions.

What is Paris Agreement? It is an agreement within United Nations Framework Convention on Climate Change (UNFCC) that was signed in 2016. It deals with greenhouse-gas-emissions (GHG) mitigation, adaptation, and finance.

This agreement on climate change gives countries a choice in how to join accords by ratification, acceptance, approval/accession to agreement which depends on their national legislation.

Important Fact

Russia is world’s fourth largest emitter.

Russia had signed the Paris accord in 2016, however, the recent decision to ‘accept’ the accord signifies Russia’s consent to obligations under Paris Agreement.

As of now there are 11 countries which are yet to formally ratify Paris Agreement. These are: Iran, Oman, Yemen, Angola, Iraq, Kyrgyzstan, Lebanon, Libya, South Sudan, Suriname, and Eritrea.

Global Environment Outlook 2019: Findings about India

The United Nations Environment Programme has released the Global Environment Outlook 2019. The report makes the following observations about India:

  • India could save at least $3 trillion (Rs 210 trillion approx.) in healthcare costs if India implements policy initiatives which are consistent with ensuring that the globe didn’t heat up beyond 1.5 degrees Celsius by the turn of the century.
  • Among India’s commitments under INDC, India is on track to achieve the target of lowering the emission intensity of its GDP by 33-35% compared to 2005 levels by 2030 and increasing the total cumulative electricity generation from fossil-free energy sources to 40% by 2030.
  • To achieve the goal to limit the global temperature increase to 1.5.deg c, India needs to abandon plans to build new coal-fired power plants.

The Paris Accord of 2015 aims to keep global temperature rise this century well below 2 degrees Celsius above pre-industrial levels and to pursue efforts to limit the temperature increase even further to 1.5 degrees Celsius. But there has been limited progress by countries since then in committing to greenhouse gas emissions cut since then.