The aim of the agreement is to reduce global warming described in its Article 2, to improve the “implementation” of the UNFCCC by: Negotiators of the agreement said that the INDCs presented at the time of the Paris conference were insufficient and noted that “estimates of aggregate greenhouse gas emissions in 2025 and 2030 were of concern, which derive from the planned national contributions; do not fall into the least expensive 2°C scenarios, but rather lead to a projected level of 55 gigatons in 2030” and recognizing that “much greater efforts will be needed to reduce emissions to keep the increase in the global average temperature to less than 2°C by reducing emissions to 40 gigatons or 1.5°C”.  [Clarification needed] 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. The main objective of the agreement is to keep the increase in global average temperature well below 2°C compared to pre-industrial levels”, including by reducing greenhouse gas emissions. The agreement differs from the 1997 Kyoto Protocol, the last widespread amendment to the UNFCCC, in the absence of annexes aimed at reducing the liability of developing countries. On the contrary, emissions targets for each nation were negotiated separately and must be applied voluntarily, leading U.S. officials to view the Paris Agreement as an executive agreement and not a legally binding treaty. This dispelled the requirement for the U.S. Congress to ratify the agreement.  In April 2016, the United States became a signatory to the Paris Agreement and accepted it by executive order in September 2016.
President Obama has committed the United States to contribute $3 billion to the Green Climate Fund.  The Fund has set itself the goal of raising $100 billion a year by 2020. The Kyoto Protocol is an instrument of the Climate Change Convention, adopted in 1997 at the Third Conference of the Parties (COP 3), whereas it only entered into force in 2005.  The Kyoto Protocol requires certain industrialized countries (the “Annex I Parties”) to reduce their greenhouse gas emissions. The protocol has weighed more heavily on industrialized countries, which are largely responsible for high greenhouse gas emissions (this is known as the principle of “common but differentiated responsibilities”). Australia signed the Kyoto Protocol in 1998, but only ratified it in 2007. The first commitment period of the Kyoto Protocol ran from 2008 to 2012. Australia met and exceeded its Kyoto target for the first period of 108% of emissions between 1990 and 2012. The quality of each country on track to meet its obligations under the Paris Agreement can be continuously monitored online (via the Climate Action Tracker and the Climate Clock). To contribute to the objectives of the agreement, countries presented broad national climate change plans (national contributions, NDCs). These are not yet sufficient to meet the temperature targets, but the agreement sets out the way forward.
The EU and its Member States are among the nearly 190 parties to the Paris Agreement. The EU formally ratified the agreement on 5 October 2016, allowing it to enter into force on 4 November 2016. For the agreement to enter into force, at least 55 countries, which have escaped at least 55% of global emissions, had to deposit their instruments of ratification. The EU is already ahead of its climate targets and has reduced its emissions by 23% compared to 1990. .