The Paris Agreement, an international treaty signed in 2016, aims to combat climate change and limit global warming to below 2°C above pre-industrial levels. Under the agreement, countries have pledged to reduce their greenhouse gas emissions and contribute to a global fund to aid in the transition to cleaner, more sustainable economies. But just how much are countries paying for this effort?
The answer is complicated, as different countries have different financial obligations based on their level of development and historical contributions to climate change. However, the Paris Agreement sets a goal of mobilizing $100 billion per year in climate finance by 2020, with a focus on helping developing countries transition to renewable energy and adapt to the effects of climate change.
So far, progress towards this goal has been mixed. According to a report by the Organisation for Economic Co-operation and Development (OECD), climate finance provided by developed countries to developing countries reached $78.9 billion in 2018, up from $67.6 billion in 2017. However, this still falls short of the $100 billion target, and it is unclear whether this amount will continue to increase in the coming years.
In terms of individual countries, the United States was one of the largest contributors to the Green Climate Fund, a major funding mechanism under the Paris Agreement, pledging $3 billion before withdrawing from the agreement in 2017. Other major contributors include the United Kingdom, Germany, France, and Japan.
On the other hand, some countries have been criticized for not contributing enough, particularly those with high levels of greenhouse gas emissions. For example, China, the world`s largest carbon emitter, has pledged to provide financial support to developing countries but has not made a specific contribution towards the $100 billion target.
Ultimately, the question of how much each country is paying for the Paris Agreement is difficult to answer definitively. While some countries have made significant financial commitments, the overall level of climate finance falls short of what is needed to address the urgent threat of climate change. As the world continues to grapple with this issue, it is likely that the question of financial contributions to the Paris Agreement will remain a contentious one.