Heads of state and government reaffirmed the EU`s commitment to the rapid and comprehensive implementation of the Paris Agreement on climate change, including its climate change targets, and a global transition to clean energy. They stressed the strengthening of EU cooperation with international partners and showed solidarity with future generations and responsibilities for the whole planet. Representatives of the Presidency of the Council and the European Commission have tabled the official ratification documents with the SECRETARy-general of the United Nations, who is the custodian of the agreement. 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. While the Paris Agreement ultimately aims to limit global temperature increase to 1.5 degrees Celsius this century, many studies evaluating the voluntary commitments of some countries in Paris show that the cumulative effect of these emission reductions will not be significant enough to keep temperatures below that ceiling. Indeed, the targets set by the target countries should limit the future increase in temperature between 2.7 and 3.7 degrees Celsius. At the same time, recent assessments of countries` developments in the framework of their climate targets in Paris indicate that some countries are already not meeting their commitments. Countries must, among other things, report on their greenhouse gas inventories and their progress against their targets, so that external experts can assess their success. Countries should also review their commitments by 2020 and present new targets every five years to further reduce emissions.
They must participate in a “comprehensive state of affairs” to measure collective efforts in order to achieve the long-term goals of the Paris Agreement. In the meantime, developed countries must also assess the financial assistance they will provide to developing countries to help them reduce their emissions and adapt to the effects of climate change. The Environment Council adopted a declaration of ratification of the Paris Agreement. He focused on sending a strong and clear political message on the EU`s commitment to maintaining the momentum of Paris and working towards a rapid entry into force and effective implementation of the Paris Agreement.