In the 10 years since the adoption of the Paris Agreement, the Parties to the agreement have achieved a lot of progress in response to climate change. A Loss and Damage Fund was established in 2022. Rules for international carbon trading have been established under Article 6 of the agreement. A new goal for climate finance was agreed in 2024. The COP30 climate conference in November 2025 adopted indicators for climate adaptation and agreed to triple adaptation finance. The first global stocktake under the Paris Agreement in 2023 called for accelerating climate action, tripling renewable energy capacity, doubling the rate of energy efficiency improvements and transitioning away from fossil fuels. Building on the global stocktake, Parties submitted their third round of climate pledges in 2025, ahead of COP30. Full implementation of the pledges would lead to a global temperature increase of around 2.4°C, a large improvement compared to the 3.5°C increase projected before the Paris Agreement but still falling short of the agreement's target to keep global warming well below 2°C and ideally 1.5°C. With global carbon emissions still rising, the 1.5°C target will only be achievable after a temporary overshoot. As every fraction of a degree of global warming will result in increasing damages, additional efforts will be needed to keep the overshoot as short and as close to 1.5°C as possible. The current geopolitical situation hinders swift progress on collective climate action. The United States has decided to leave the Paris Agreement, a third of the Paris Agreement Parties failed to update their climate pledge, and a roadmap for phasing out fossil fuels was blocked at COP30. The EU, traditionally a leader in international climate policy, struggled to build strong coalitions to drive an ambitious outcome at COP30. Source : © European Union, 2025 - EP Read more