The agreement requires rich countries to keep a funding pledge of $100 billion a year beyond 2020 and use that figure as "ground" for additional aid agreed until 2025. The Paris Agreement is the world`s first comprehensive climate agreement.  As soon as the European Parliament gives its green light, the closure decision is formally adopted by the Council. The EU will then be able to ratify the agreement. INDCs become NDCs – national contributions – as soon as a country formally accedes to the agreement. There are no specific requirements on how or to what extent countries should reduce emissions, but there were political expectations about the nature and rigour of different countries` targets. As a result, national plans are very different in scale and ambition and largely reflect each country`s capabilities, level of development and contribution to emissions over time. For example, China has committed to leveling its CO2 emissions by 2030 at the latest and reducing CO2 emissions per unit of gross domestic product (GDP) by 60-65% by 2030 compared to their 2005 level. India has set a target of reducing emissions intensity by 33-35% compared to 2005 by 2030 and producing 40% of its electricity from non-fossil sources.
When the agreement garnered enough signatures to cross the threshold on October 5, 2016, US President Barack Obama said: "Even if we achieve every goal. We will only reach part of where we need to go. He also said that "this agreement will help delay or avoid some of the worst consequences of climate change. It will help other nations reduce their emissions over time and set bolder targets as technology advances, all under a strong transparency system that will allow each nation to assess the progress of all other nations. "  The objective of the agreement is to reduce global warming as described in Article 2 and to improve the implementation of the UNFCCC by: Although the agreement has been welcomed by many, including French President François Hollande and UN Secretary-General Ban Ki-moon, criticism has also been made. For example, James Hansen, a former NASA scientist and climate change expert, expressed anger that most of the deal is made up of "promises" or goals and not firm commitments.  He called the Paris talks a fraud without "no deeds, only promises" and believes that only an interterritorial tax on CO2 emissions, which is not part of the Paris Agreement, would reduce CO2 emissions fast enough to avoid the worst effects of global warming.  The Kyoto Protocol, a pioneering environmental agreement adopted at COP3 in Japan in 1997, is the first time that nations have agreed on legal country-specific emission reduction targets. and recognizing that "much greater efforts will be needed to reduce emissions in order to keep the global average temperature rise to less than 2°C by reducing emissions to 40 gigatons or 1.5°C".  [Clarification required] The Paris Climate Change Conference was held from 30 November to 12 November. December 2015.