The EU will increase its international contribution to the fight against climate change to reach the target of $100 billion per year for industrialized countries by 2020 and by 2025. By 2025, the parties to the UN Convention on Climate Change will set a new common goal. Countries must, among other things, report on their greenhouse gas inventories and their progress against their targets, so that external experts can assess their success. Countries should also review their commitments by 2020 and present new targets every five years to further reduce emissions. They must participate in a “comprehensive state of affairs” to measure collective efforts in order to achieve the long-term goals of the Paris Agreement. In the meantime, developed countries must also assess the financial assistance they will provide to developing countries to help them reduce their emissions and adapt to the effects of climate change. The EU and its member states have announced their intention to table the instruments for ratifying the Doha amendment to the Kyoto Protocol by the end of 2017 at the latest. This decision is a strong sign of the EU`s commitment to the fight against climate change. The Economic and Financial Affairs Council adopted conclusions on the financial aspects of climate change in the run-up to the United Nations Climate Change Conference (COP25).
The EU and its Member States remain the leading provider of public climate finance. Their total contributions amounted to 21.7 billion euros in 2018, compared to 20.4 billion in 2017. This recent figure reflects the EU`s determination to increase its international contribution to the fight against climate change by 2020 and by 2025 to the target of $100 billion per year for industrialized countries. As soon as the European Parliament gives the go-ahead, the closing decision will be formally adopted by the Council. The EU will then be able to ratify the agreement. France, a major player in the ratification of the Paris Agreement, facilitated its entry into force less than a year before the COP22 in Marrakech in 2016. Representatives of the Presidency of the Council and the European Commission have tabled the official ratification documents with the SECRETARy-general of the United Nations, who is the custodian of the agreement. Although the NDC of each contracting party is not legally binding, the contracting parties have a legal obligation to monitor their progress through expert technical reviews to assess performance towards the NDC and to find ways to strengthen ambitions.  Article 13 of the Paris Agreement establishes an “enhanced transparency framework for measures and support” that sets harmonised monitoring, reporting and verification (LVR) requirements.
As a result, industrialized and developing countries must report every two years on their efforts to combat climate change, and all parties will be subject to technical and peer review.  The Paris Agreement has a bottom-up structure, unlike most international environmental treaties that are “top down,” characterized by internationally defined standards and objectives and must be implemented by states.  Unlike its predecessor, the Kyoto Protocol, which sets legal commitment targets, the Paris Agreement, which focuses on consensual training, allows for voluntary and national objectives.  Specific climate targets are therefore politically promoted and not legally binding. Only the processes governing reporting and revision of these objectives are imposed by international law. This structure is particularly noteworthy for the United States – in the absence of legal mitigation or funding objectives, the agreement is seen as an “executive agreement, not a treaty.” Since the 1992 UNFCCC treaty was approved by the Senate, this new agreement does not require further legislation from Congress for it to enter into force.  Work to implement the commitments agreed under the Paris Agreement must continue to include aid to developing countries in order to