Business Ethics in the Digital Age

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Paris Agreement

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Business Ethics in the Digital Age

Definition

The Paris Agreement is a landmark international treaty that was adopted in 2015 to address climate change and its impacts by limiting global warming to well below 2 degrees Celsius above pre-industrial levels. It aims to bring all nations together to combat climate change and accelerate the actions needed for a sustainable low-carbon future.

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5 Must Know Facts For Your Next Test

  1. The Paris Agreement requires countries to set their own emission reduction targets and regularly update them to reflect increasing ambition over time.
  2. Developed countries are expected to provide financial support to developing nations to help them achieve their climate goals under the agreement.
  3. The agreement includes a goal to enhance adaptive capacity and resilience in vulnerable countries facing climate change impacts.
  4. As of now, nearly every country in the world has signed the Paris Agreement, demonstrating a global consensus on the urgency of tackling climate change.
  5. The long-term goal of the Paris Agreement is to limit global temperature rise to 1.5 degrees Celsius, which scientists believe is necessary to avoid severe consequences of climate change.

Review Questions

  • How does the Paris Agreement encourage countries to commit to reducing greenhouse gas emissions?
    • The Paris Agreement encourages countries to commit to reducing greenhouse gas emissions by requiring each nation to set its own Nationally Determined Contributions (NDCs). These contributions represent voluntary targets that countries establish based on their unique circumstances and capabilities. The agreement also includes a framework for countries to regularly report on their progress and update their targets, fostering accountability and encouraging nations to adopt more ambitious measures over time.
  • What role do developed countries play in supporting the goals of the Paris Agreement, particularly regarding developing nations?
    • Developed countries play a crucial role in supporting the goals of the Paris Agreement by providing financial assistance and technological support to developing nations. This support is essential for helping these countries implement their NDCs and enhance their resilience against climate change impacts. By acknowledging their historical contribution to greenhouse gas emissions, developed nations are expected to assist developing countries in achieving sustainable development while addressing climate change challenges.
  • Evaluate the potential impact of the Paris Agreement on global efforts to combat climate change and foster sustainable development.
    • The Paris Agreement has the potential to significantly impact global efforts to combat climate change by creating a unified framework that brings together nearly all nations in a collective commitment. Its emphasis on setting voluntary emission reduction targets allows for flexibility while ensuring that progress is made toward limiting global warming. Furthermore, by facilitating financial support for developing nations, the agreement promotes sustainable development alongside climate action. However, its effectiveness depends on how well countries adhere to their commitments and increase their ambitions over time, making continued engagement and cooperation crucial.

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