Specific results of increased attention to adjustment financing in Paris include the announcement by the G7 countries of $420 million for climate risk insurance and the launch of a Climate Risk and Early Warning Systems (CREWS) initiative.  In 2016, the Obama administration awarded a $500 million grant to the “Green Climate Fund” as “the first part of a $3 billion commitment made at the Paris climate talks.”    To date, the Green Climate Fund has received more than $10 billion in commitments. The commitments come mainly from developed countries such as France, the United States and Japan, but also from developing countries such as Mexico, Indonesia and Vietnam.  Currently, 197 countries – each nation on earth, the last signatory being war-torn Syria – have adopted the Paris Agreement. 179 of them have consolidated their climate proposals with official approval, including, for the time being, the United States. The only major emitters that have yet to formally accede to the agreement are Russia, Turkey and Iran. The Paris Conference was the 21st meeting of the Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC), known as COP 21. The conference concluded a round of negotiations that began in 2011 in Durban, South Africa, with the aim of concluding a new legal agreement between national governments to strengthen the global response to climate change. 150 heads of state and government participated in the opening day of the conference. The gap between development and development has widened over Negotiations as part of improving the transparency framework. Developed countries see transparency in efforts to combat climate change as the key to achieving the Paris Agreement goal, while developing countries view the transparency of aid granted and received as extremely important.
The communication of developed countries on the transparency and coherence of Article 9.7 information on the accounting arrangements of the financial resources made available is also controversial. The 32-part document sets out a framework for global action on climate change, including climate change mitigation and adaptation, support for developing countries and transparency of reporting, and strengthening climate change goals. Here`s what needs to be done: the implementation of the agreement by all the Member States combined is evaluated every five years, with the first evaluation in 2023. The result will be used as an input for new national contributions from Member States.  The inventory will not be national contributions/achievements, but a collective analysis of what has been achieved and what remains to be done. Finally, an encouraging development has been the dynamics of Paris in the need to take the next steps for the price of carbon and put countries on a low-carbon development path. More than 1,000 companies have joined the Carbon Pricing Leadership Coalition, created at COP 21. The demand for a carbon price came from many sectors, from BP and Statoil in the energy sector to consumer goods companies such as Unilever and Mars, to emerging economic giants such as Cemex, Braskem and Mahindra Group. While a Paris Global Carbon Prize was never expected, more than 90 countries that were presented to the UNFCCC (nationally determined contributions) mention carbon prices in one way or another, which is expected to increase.