Advantage And Disadvantage Of Paris Agreement
5. We are subsidizing the $5 trillion fossil fuel industry. The International Monetary Fund (IMF) estimates that the fossil fuel industry received $5.2 trillion in global subsidies in 2017. The IMF defines « subsidies » both in terms of direct financial support from governments to companies using fossil fuels and the hidden costs we all pay from fossil fuels, such as damage caused by air pollution and climate change. As UN Secretary-General António Guterres described at the R20 summit, subsidizing the fossil fuel industry actually means spending taxpayers` money to « amplify hurricanes, spread droughts, melt glaciers, bleach corals: destroy the world. » In addition, countries that heavily subsidize fossil fuels and not clean energy sources give fossil fuels an unfair advantage in the market. Countries that are not currently in this agreement feel that either it is not strong enough to stop climate change, or it is a document that is too political. The increase in temperature would reduce the water supply and the level of crops. In addition, melting ice would raise sea levels, flood coastal communities and destroy thousands, if not millions, of homes. By committing to reducing greenhouse gases, the Paris Agreement aims to prevent these ecosystem disruptions. While the Paris Agreement has clear and significant environmental benefits, it is not flawless.
Below are some of the environmental advantages and disadvantages of the agreement. According to SCOTT Pruitt, head of the EPO, China and India signed the agreement without being obliged to reduce their greenhouse gas emissions. According to the program`s guidelines, each nation can independently decide how to reduce emissions. Other aspects of the agreement are not binding, so it is really not possible to ensure that they are applied. www.climatechangenews.com/2018/07/12/countries-yet-ratify-paris-agreement/ The Under2 Coalition has made a local commitment to reduce emissions by 80% by 2050. The agreement includes more than 160 jurisdictions representing $26 trillion in economic activity. This figure represents one third of the world`s GDP. Here is a brief introduction to the content of the agreement. Although President Donald Trump withdrew the United States from the Paris Agreement in 2017, the effects of that agreement are still applicable under the rules introduced a few years ago. .