Paris Agreement

The Paris Agreement is an international treaty adopted in 2015 during COP21 that marked a milestone in the global fight against climate change. Its goal is to keep the rise in global temperature below 2 °C, and preferably not exceed 1.5 °C compared to pre-industrial levels.

To achieve this, each country must submit and update its Nationally Determined Contributions (NDCs), which include plans to reduce emissions and adapt to climate change. These contributions must be reviewed every five years with increased ambition.

The Agreement also establishes:

• A system of transparency and international monitoring of progress.
• A commitment by developed countries to mobilize USD 100 billion annually to support developing economies.
• A call for cooperation among governments, the private sector, and civil society.

Why is it important for businesses?
The Paris Agreement has triggered new laws, regulations, and market expectations. It has led to initiatives such as SBTi (Science Based Targets) and pressure to reduce Scope 3 emissions across supply chains. Businesses play a key role in meeting these global targets, and many already align their climate strategies with this agreement.

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