Paris Agreement Rulebook

4 F Maisonnave, “Brazil to verify the status of the Paris Agreement, declares bolsonaro Minister of the Environment” (Climate Home News, December 9, 2018) . This raises concerns that the regulations will ensure that we know if we are lagging behind in terms of climate protection, but that we will not offer a recipe to fix things. This may not address one of the main problems of the Paris agreement to date: that countries are not required to ensure that their climate promises are in line with the overall objectives. A successful, ambitious and prescriptive five-year review process will be essential to get the world on track. Article 14 of the Paris Agreement requires the meeting of the contracting parties to “regularly draw up an inventory of the implementation of this agreement in order to assess the progress made together in achieving the objective of this agreement and its long-term objectives.” Footnote 99 This global inventory plays a key role in the “round of ambition” of the agreement, conducting a five-year assessment of the parties` joint progress, which is to inform the parties about updating and improving their NPNS and their support. The global inventory process is of particular importance, as the parties` current CNN does not set the world on its way to the temperature target set by the Paris Agreement. This issue has become a major stumbling block in the negotiations, with Brazil and others refusing to approve rules that would fill this gap, and discussions will therefore continue next year. Meanwhile, the United Nations does not have a formal agreement on the implementation of the international emissions trading system. However, given the “upward” nature of the Paris Agreement, countries are largely able to define their own accounting rules, with the guidelines agreeing on what information they should provide. But a future international carbon trading market will obviously require a set of standardized rules. The new regulatory framework carries a significant risk of double-counting, in which countries could potentially attribute overseas emission reductions to their own objective, even though another country has also claimed the reduction. With regard to another long-standing bone of contention between developed and developing countries, that is, justice, the Paris rules preserve the position of all parties. The annex requires the parties to report on how they have approached issues of fairness and ambition, footnote 50, but does not require specific types of information to support a party`s narrative, as this would have required agreement on indicators of fairness, which proved impossible during the negotiations.