The Paris Agreement is the first legally binding universal global agreement on climate change adopted at the Paris Climate Change Conference (COP21) in December 2015. The agreement recognizes the role of non-partisan stakeholders in the fight against climate change, including cities, other sub-national authorities, civil society, the private sector and others. This is the first global climate agreement in the world in which all countries are expected. The Paris Agreement was launched at the signing on April 22, 2016 (Earth Day) at a ceremony in New York.  After the agreement was ratified by several EU member states in October 2016, there were enough countries that had ratified the agreement to produce enough greenhouse gases in the world for the agreement to enter into force.  The agreement came into force on November 4, 2016.  The 197 “parties to the negotiations” committed to developing long-term strategies for the development of low-carbon greenhouse gas emissions. This is the first time that a universal agreement has been reached in the fight against climate change. Article 28 of the agreement allows the parties to terminate the contract following a notification of an appeal to the custodian.
This notification can only take place three years after the agreement for the country comes into force. The payment is made one year after the transfer. Alternatively, the agreement provides that the withdrawal of the UNFCCC, under which the Paris Agreement was adopted, also withdraws the state from the Paris Agreement. The terms of the UNFCCC`s exit are the same as those of the Paris Agreement. There is no provision in the agreement for non-compliance. The Paris Agreement (the Paris Agreement)  is an agreement within the framework of the United Nations Framework Convention on Climate Change (UNFCCC) that deals with the reduction, adaptation and financing of greenhouse gas emissions and was signed in 2016. The language of the agreement was negotiated by representatives of 196 States Parties at the 21st UNFCCC Conference of parties held at Le Bourget, near Paris, France, and agreed on 12 December 2015.   Since February 2020, all 196 UNFCCC members have signed the agreement and 189 have left.  Of the seven countries that are not parties to the law, Iran and Turkey are the only major emitters. As host and president of COP21, France is committed to supporting a multilateral negotiation process and to listening to all parties involved in reaching an agreement: ultimately, all parties have recognized the need to “avoid, minimize and repair losses and damages”, but in particular, any mention of compensation or liability is excluded.  The Convention also takes up the Warsaw International Loss and Damage Mechanism, an institution that will attempt to answer questions about how to classify, address and co-responsible losses.  Funding is essential to support emerging economies and support the transition to carbon-free economies.
The agreement provides that from 2020, $100 billion in public and private funds will have to be mobilized each year to finance projects that allow countries to adapt to the effects of climate change (sea level rise, droughts, etc.) or to reduce greenhouse gas emissions. These funds should be gradually increased and some developing countries will also be able to become donors on a voluntary basis to help the poorest countries.