Implementation of the agreement by all Member States will be evaluated every five years, with the first evaluation in 2023. The result will be used as an input for new national contributions from Member States.  The inventory will not be national contributions/achievements, but a collective analysis of what has been achieved and what remains to be done. In the 2009 Copenhagen Agreement, the long-term goal of temperature is to limit the increase in global temperature to « less than 2 degrees Celsius » (UNFCCC 2010). A year later, the parties to the UNFCCC adopted the Cancun Agreements, which « recognize the need for a deep reduction in global greenhouse gas emissions in order to keep the global average temperature increase below 2 degrees Celsius above pre-industrial levels. » This is what the CTU calls the Cancun goal at 2oC. Here`s a look at what the Paris agreement does, how it works and why it is so crucial to our future. As mentioned above, the paris agreement`s target is 1.5 degrees Celsius outside the Cancun agreement limit of less than 2 degrees Celsius and aims to keep warming well below 2 degrees Celsius and to continue efforts to limit the temperature increase to 1.5 degrees Celsius. One of the most important architectural concepts of Cancun`s 2oC target, which has been transferred to the long-term temperature target of Paris, is to « keep warming » below a certain level. The term « Hold below » is significantly stronger than a return to a certain degree of warming up to a certain time (up to 2100 (of a higher implied level). During the negotiations on this warming target, formulations such as the return to 2oC by 2100 were proposed and rejected. In reviewing a series of emission pathways that meet a long-term temperature target, a requirement to remain below a certain level of warming requires larger and faster emission reductions than a temperature target requiring, for example, a return to a certain degree of warming by the year 2100. This has a concrete impact on policies – and emissions trajectories – and, as a result, the Climate Action Tracker has made sure to use channels that are fully in line with the objectives.
Indeed, research shows that the cost of climate activity far outweighs the cost of reducing carbon pollution. A recent study suggests that if the United States does not meet its climate targets in Paris, it could cost the economy up to $6 trillion in the coming decades. A lack of compliance with the NPNs currently foreseen in the agreement could reduce global GDP by more than 25% by the end of the century. Meanwhile, another study estimates that achieving – or even exceeding – the Paris targets by investing in infrastructure in clean energy and energy efficiency could have great benefits globally – about $19 trillion. The goal of the 1.5oC Paris Agreement is to strengthen Cancun`s 2oC target.