Finally, a consensus was reached after two more days of negotiations. None of the major countries wanted to be seen as the redeemer of such a close agreement. Everyone agreed that he wanted an agreement and to make all the compromises. The EU has voted in favour of legally binding legislation on carbon emission reductions that have been agreed at national level; The language accepted by the United States about “loss and harm”; China and India agreed that the goal of keeping warming at 1.5 degrees Celsius could be included. The Paris Agreement is an environmental agreement that was adopted by almost all nations in 2015 to combat climate change and its negative effects. The agreement aims to significantly reduce global greenhouse gas emissions in order to limit global temperature increase to 2 degrees Celsius above pre-industrial levels this century, while continuing to pursue ways to limit the increase to 1.5 degrees. The agreement provides for the commitment of all major emitters to reduce their pollution from climate change and to strengthen these commitments over time. It provides developed countries with a means to assist developing countries in their mitigation and adaptation efforts and establishes a framework for monitoring, reporting and strengthening countries` individual and collective climate goals. Recognizing that many developing countries and small island developing states that have contributed the least to climate change are most likely to suffer the consequences, the Paris Agreement contains a plan for developed countries – and others that are able to do so – to continue to provide financial resources to help developing countries reduce and increase their capacity to withstand climate change. The agreement builds on the financial commitments of the 2009 Copenhagen Accord, which aimed to increase public and private climate finance to developing countries to $100 billion per year by 2020.
(To put it in perspective, in 2017 alone, global military spending amounted to about $1.7 trillion, more than a third of which came from the United States. The Copenhagen Pact also created the Green Climate Fund to mobilize transformation funding with targeted public dollars. The Paris agreement expected the world to set a higher annual target by 2025 to build on the $100 billion target by 2020 and create mechanisms to achieve this. The Paris Agreement was adopted on 12 December 2015 at COP21 in Paris, France, by the Conference of the Parties (COP) of the United Nations Framework Convention on Climate Change (UNFCCC). The Vienna Convention on Treaty Law provides for the adoption of the formal act, the form and content of an agreement. In adopting the Paris Agreement, each of the contracting parties approved the text of the Paris Agreement. This does not mean that the parties to the UNFCCC will automatically become parties to the Paris Agreement. At the end of COP 21 (the 21st meeting of the conference of the parties at the conference chairing the conference), on 12 December 2015, the final text of the Paris Agreement was adopted by all 195 participating UNFCCC member states and by the European Union to reduce emissions under the method of reducing greenhouse gas emissions. In the 12-language agreement, members promised to reduce their carbon emissions “as soon as possible” and do their best to keep global warming “well below 2 degrees Celsius.”  The agreement stipulated that it would only enter into force (and therefore fully effective) if 55 countries responsible for at least 55% of global greenhouse gas emissions (according to a list drawn up in 2015) ratified, approved or ratified the agreement.
  On April 1, 2016, the United States and China, which together account for nearly 40% of global emissions, issued a joint statement confirming that the two countries would sign the Paris climate agreement.  175 contracting parties (174 states and the European Union) signed the agreement on the first day of its signing.   On the same day, more than 20 countries expressed an intention to join as soon as possible for 20