While the expanded transparency framework is universal, as is the global stocktaking that will take place every 5 years, the framework aims to provide “integrated flexibility” to distinguish the capacities of developed and developing countries. In this context, the Paris Agreement contains provisions to improve the capacity-building framework.  The Agreement recognises the different circumstances of certain countries and notes, in particular, that the review of technical experts for each country takes into account that country`s specific reporting capacity.  The agreement also develops a transparency capacity building initiative to help developing countries put in place the institutions and processes needed to comply with the transparency framework.  The Paris Agreement was signed on the 4th. November 2016, after the condition of ratification by at least 55 countries, which are deprived of at least 55% of global greenhouse gas emissions, was met. All EU countries have ratified the agreement. Unlike the Kyoto Protocol, which sets legally binding emission reduction targets (as well as sanctions for non-compliance) only for developed countries, the Paris Agreement requires all countries – rich, poor, developed and developing – to do their part and reduce greenhouse gas emissions. To this end, greater flexibility is built into the Paris Agreement: it does not include language on the commitments that countries should make, countries can voluntarily set their emission targets (NDCs), and no penalties are imposed on countries if they fail to meet the proposed targets. What the Paris Agreement requires, however, is monitoring, reporting, and reassessing countries` individual and collective goals over time in order to bring the world closer to the broader goals of the agreement. And the agreement requires countries to announce their next set of targets every five years – unlike the Kyoto Protocol, which aimed at that target but did not contain a specific requirement to achieve it.
The agreement contains commitments from all countries to reduce their emissions and work together to adapt to the effects of climate change and calls on countries to step up their commitments over time. The agreement provides a way for developed countries to assist developing countries in their mitigation and adaptation efforts, while providing a framework for transparent monitoring and reporting on countries` climate goals. We have one of the richest energy reserves on the planet, enough to impoverish millions of America`s poorest workers. But under this agreement, we are effectively locking those reserves under lock and key and we are taking away the great wealth of our nation – it is great wealth, it is phenomenal wealth; Not so long ago, we had no idea that we had such wealth – leaving millions and millions of families trapped in poverty and unemployment. Therefore, effective today, the United States will cease all implementation of the non-binding Paris Agreement and the draconian financial and economic burdens that the agreement imposes on our country. This includes ending the implementation of the Nationally Determined Contribution and, very importantly, the Green Climate Fund, which is costing the United States a huge fortune. According to the Vienna Convention on the Law of Treaties, “ratification” defines the international act by which a country consents to be bound by an international agreement […].