Article 28 Of The Paris Agreement
One of the main results of the 2015 Paris Agreement was that the US and China originally signed, although the US no longer agreed. Together, the United States and China are responsible for about 43% of global emissions: 28% on China and 15% on the United States. All signatories agreed to the goal of reducing greenhouse gas emissions due to rising temperatures and other risks to the world as a whole. Another important element of the agreement is that it includes countries that depend on revenues from oil and gas extraction. Ultimately, all parties have recognized the need to “prevent, minimize and treat loss and damage,” but in particular any mention of indemnification or liability is excluded.  The Convention also adopts the Warsaw International Mechanism for Loss and Damage, an institution that will attempt to answer questions relating to the classification, management and sharing of responsibilities in the event of loss.  Adaptation issues received more attention during the formation of the Paris Agreement. Long-term collective adjustment targets are included in the agreement and countries are accountable for their adaptation measures, making adaptation a parallel element of the agreement with reduction.  Adjustment targets focus on improving adaptive capacity, increasing resilience and limiting vulnerability.
 Although mitigation and adaptation require increased climate finance, adjustment has generally received less support and mobilized less private sector action.  A 2014 OECD report indicated that in 2014, only 16% of global funds were devoted to climate change adaptation.  The Paris Agreement called for a balance between climate finance between adaptation and mitigation, and in particular highlighted the need to increase support for adaptation to parties most vulnerable to the effects of climate change, including least developed countries and small island developing states. The agreement also reminds the parties of the importance of public subsidies, as adaptation measures receive less investment from the public sector.  John Kerry announced as Secretary of State that the United States . . .