CLIMATE CHANGE. The Paris Agreement on Climate Change. (Essay Sample)

The Paris Agreement on Climate Change
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The Paris Agreement on Climate Change
The Paris Agreement that was adopted in 2015 is a revolutionary accord that has been adopted by almost all nations in the world to address climate change. Climate change is a global concern, and the agreement aims to reduce greenhouse gas emissions to a limit of under 2 degrees Celsius above preindustrial levels by the year 2030 while limiting the increase to a maximum of 1.5 degrees (Denchak, 2018). A new technological framework, proper financial flows, and an enhanced capacity-building framework have been put in place to meet the agreement's targets. Despite the apparent dangers of climate change, some critics are against the implementation of the Paris Agreement. However, the Paris Agreement should be implemented at all costs.
Implementing the Paris Agreement on Climate change could lead to economic benefits. According to a report published by the Global Commission on the Economy and Climate (2018), efforts to reduce climate change could lead to over 26 trillion dollars in economic benefits. These benefits will be mainly reflected in financial savings, new jobs, competitiveness, and market opportunities across many industries. The report states that efforts to reduce carbon-emissions could lead to over sixty-five million jobs by 2030 and generate about 2.8 trillion dollars in government revenue through carbon pricing and subsidy reform. Critics against the agreement's implementation usually cite the costs of implementation, but this is because the existing economic models are unable to determine the attractive qualities and powerful dynamics of new structures and technologies. Therefore, the potential economic benefits associated with implementing the Paris Agreement make it worthwhile to fulfil the accord.