After two weeks of intense negotiations that went 28 hours into overtime, COP 24 adopted a 133-page “rulebook” for the Paris Agreement. These rules which are contained in a series of Decisions contain the modalities and procedures on how the various articles of the Paris Agreement are to be implemented.
The COP welcomed the Special Report on Global Warming of 1.5°C prepared by the Intergovernmental Panel on Climate Change (IPCC) to which the Parties in the Subsidiary Body for Scientific and Technical Advice (SBSTA) had failed to agree the previous week. This report was used to inform the Talanoa Dialogue, which encouraged Parties to consider the outcomes of the Dialogue to inform the preparation of the NDCs and pre-2020 ambition.
Guidelines were adopted for the preparation of NDCs including common timeframes commencing in 2030. The NDCs will be posted on a Registry to be developed and maintained by the Secretariat of the United Nations Framework Convention on Climate Change (UNFCCC) which will also include a section for Adaptation Communications. Parties agreed that the Adaptation Fund under the Kyoto Protocol would serve the Paris Agreement and that it would receive the proceeds of the market mechanism established under the Paris Agreement. However, Parties could not agree on this article of the Agreement which covers cooperative approaches, and the market and non-market mechanisms. The SBSTA would continue debating these issues at this next session for a decision to be adopted at the next COP which will be held in Chile next year.
Parties agreed to commence consideration of the new goal for climate finance in 2020 utilizing the 2020 goal of USD100 billion as the starting point. In addition, as of 2020, developed countries will provide indicative information every two years on the climate financial to be provided to developing countries including the channels, instruments, targeted regions and countries, and sectors.
The modalities, procedures and guidelines of the Transparency Framework were adopted through which Parties will report on how they are implementing the provisions of the Paris Agreement. These will undergo a technical expert peer review process. The Parties also adopted the modalities and procedures which the Compliance Committee will use to assist Parties which are unable to meet their NDCs. The procedures to undertake the global stocktake (GST) in 2023 and every five years thereafter were also agreed.
The result of COP 24 is that the Parties to the Paris Agreement now have most of the tools to begin the implementation of the Agreement.