The Paris Agreement (2015) is a global climate treaty under the UNFCCC signed by 196 parties (as of early 2023, 195 members had ratified it). It aims to “keep a global temperature rise… well below 2°C” above pre-industrial levels and pursue limiting warming to 1.5°C. To achieve this, every country must submit Nationally Determined Contributions (NDCs) – voluntary emission-reduction pledges – and update them every five years. The Agreement also encompasses adaptation, finance, technology transfer and a transparency framework, including a five-yearly Global Stocktake to assess collective progress. In theory this creates a continuous cycle of pledge-and-review.

Global scope: Nearly every nation – developed and developing – participates (all UNFCCC members except a few small states). For the first time, major developing countries also make emissions plans, blurring the old Annex I/II Kyoto divide. This universal buy-in is a major achievement: it means virtually all of the world’s emissions are covered by Paris commitments.

Main goals: Long-term temperature goals (well below 2°C, aim for 1.5°C) and mid-century “climate neutrality” (net-zero) commitments. NDCs must “represent a progression” beyond earlier pledges, meaning each round should ratchet up ambition. The treaty also sets objectives for adaptation and finance: countries should strengthen adaptation plans and make finance flows “consistent” with low-carbon, resilient development.

Implementation and Accountability

• NDC cycle (no binding targets): Parties must submit NDCs, but these are self-determined and non-binding in terms of outcomes. Each country decides its own targets and policies; there is no enforcement body that can force deeper cuts. Countries report emissions and policy progress under an “Enhanced Transparency Framework”, and every 5 years a Global Stocktake evaluates collective progress. In practice, missing a target results in peer review and political pressure, not legal penalty.

• No “teeth”: As MIT experts note, the “short answer is that there is no hard enforcement” in Paris. There is an Article 15 compliance mechanism, but it is explicitly “facilitative, non-adversarial” and provides only support or advice to laggards. Countries submit emissions inventories and get feedback from a technical committee, but there are no fines or sanctions for failure. Accountability rests on transparency, peer pressure and domestic politics.

• Stocktake and peer pressure: Every five years (starting in 2023), parties collectively review progress. The first Global Stocktake (at COP28 in Dec 2023) concluded that “progress has been made… reaching near-universal climate action,” but warned these efforts are “insufficient and…the world is not on track” to meet Paris goals. In other words, the Stocktake found a widening ambition gap, but its only remedy is exhortation: countries are “encouraged” to increase their commitments.

READ MORE: What Is ESG Integration and Why It Matters

Global Emissions and Climate Impact

• Emissions keep rising: Despite the Paris framework, global greenhouse gas emissions have not fallen. In fact, the opposite: worldwide CO₂ levels continue to climb. The UN Emissions Gap Report (2023) finds global GHG emissions hit a new record of ~57.4 GtCO₂e in 2022 (up 1.2% from 2021). A recent analysis by the Global Carbon Project (Dec 2023) estimates fossil-fuel CO₂ will exceed 40 billion tons in 2023 (about 1.1% higher than 2022). These data show that Paris pledges so far have only stabilized emissions (a “10-year plateau” by 2023) but not reduced them.

• Paris targets vs reality: Crucially, current NDCs fall far short of what science demands. UNEP’s 2023 Gap Report warns that even full implementation of all current pledges would allow roughly 2.5–2.9°C of warming this century, far above the 1.5°C goal. The report notes that Paris did move the needle – projected 2030 emissions now are +3% instead of +16% over 2015 levels – but “predicted 2030 emissions still must fall by 42% for the 1.5°C pathway”. In short, Paris has not driven the dramatic cuts needed.

• Climate impacts accelerating: The urgency behind Paris remains high. Global temperature has already risen about 1.1°C above pre-industrial. IPCC analyses (2023) warn 1.5°C is likely reached in the next decade or two without drastic new cuts. On-the-ground signals are stark: the World Meteorological Organization reports 2023 was on track to be the hottest year ever (~1.4°C above 1850–1900). Extreme weather is intensifying worldwide (unprecedented heatwaves, floods, wildfires). For example, 2023 saw record heat in Europe and extreme monsoon floods in Asia, highlighting human and economic tolls. These events underscore that the Paris goals are urgent – but thus far unmet.

Performance of Major Emitters

• United States: The U.S. rejoined Paris under Biden with an NDC of 50–52% emissions cuts by 2030 (from 2005) and net-zero by 2050. However, analysis shows it is far behind its target. By 2022 the U.S. had achieved only about one-third of the reductions needed for its 2030 goal. Projections suggest it will still fall ~23–37% short of the target without new policies. Emissions did decline 3% in 2023 (due largely to reduced coal use), but the overall trend has been mixed: domestic oil and gas production remain very high. Climate Action Tracker rates U.S. efforts as “Insufficient” in ambition. Note: a 2024 U.S. political shift (new administration) threatens to reverse even existing pledges.

• China: The world’s largest emitter, China’s Paris pledge is to “peak CO₂ emissions around 2030 and achieve carbon neutrality by 2060”. It also set intensity and non-fossil targets. However, in practice China’s emissions are still rising fast. In fact, research shows China has doubled its approval of new coal plants since 2021. China plans nearly 54 GW of coal capacity in 2023–24 alone – a dramatic expansion – despite Xi’s promise to “strictly control” coal. Analysts warn this coal boom threatens to break China’s own peaking pledge and jeopardizes global 1.5°C goals. Current policy projections suggest China will still emit ~14 GtCO₂e by 2030 under its NDC. Climate trackers rate China’s targets “Highly Insufficient” against a 1.5°C pathway. In short, China meets its Paris obligations on paper, but its policies (especially coal) make the targets largely unattainable without sharp course changes.

• India: India’s updated 2030 NDC (2022) targets a 45% reduction in carbon intensity of GDP (from 2005 levels) and 50% of power capacity from non-fossil sources by 2030. It also set a net-zero by 2070 goal. So far India has made notable progress: as of 2023 about 43% of its electricity capacity is non-fossil (exceeding its original 2030 target of 40%). India even achieved some early NDC goals ahead of schedule (e.g. a 33% cut in intensity by 2019). Yet emissions continue to climb with economic growth. In 2024 India planned 13.9 GW of new coal capacity (its largest annual addition in years), and coal power generation jumped 14.7% in 2023, outpacing renewables for the first time since 2019. Coal still makes up over half of India’s power capacity. Thus, while India’s Paris pledges are relatively ambitious on paper, its continued coal expansion and energy growth mean it is only slightly slowing the rise of its emissions. Trackers rate India’s overall effort still “Highly Insufficient”, though it remains a major part of any global solution.

• Other regions: The European Union has a 2030 target of ~55% cuts (relative to 1990) and is moving ahead with renewables, but many analyses say even this is only in line with 2°C, not 1.5°C. Smaller developing economies often fall short in implementation capacity or finance. Overall, no single bloc is yet fully on a 1.5°C trajectory.

Explore OneStop ESG Marketplace: Top Renewable Energy Solutions

Challenges and Shortcomings

• Voluntary Nature: By design, Paris relies on voluntary, nationally chosen pledges. There are no binding emissions targets or legal penalties for missing them. The Agreement explicitly emphasizes national sovereignty: “each Party shall determine, plan and regularly report” its own contributions. In practice this means countries can promise strong cuts but still renege or fail without formal consequences. As experts note, the agreement’s strength is only “insofar as governments remain willing” to honor it.

• No enforcement mechanism: Article 15 of the Paris Agreement creates only a “facilitative, non-adversarial” compliance committee. The worst that happens if a country lapses is a conference-stage scolding or technical consultation. There is no global court, sanctions, or fines. Even WTO-style dispute settlement was deliberately avoided. This was a political compromise: binding enforcement was deemed “politically infeasible”. Critics argue this encourages free-riding; Nobel laureate William Nordhaus has warned that purely voluntary accords are “destined to fail” unless backed by some incentive or enforcement.

• Ambition gap: The initial NDCs were widely acknowledged as too weak. From the negotiation itself, observers noted “the Paris Agreement is not enough… it was only a first step, and the expectation was that countries would return with greater ambition”. Indeed, even the Paris text says each new NDC “shall represent a progression”. But in the first round after 2015, many countries failed to substantially upgrade targets: some re-ratified identical or only slightly stronger pledges (e.g. India’s intensity target bumped from 33% to 45%). As UNEP shows, current pledges still project ~2.5–3°C warming. In short, ambition remains far below what science says is needed.

• Compliance and reporting issues: Several countries have missed deadlines or backslid. For example, India failed to submit its 2035 mid-century strategy by the Feb 2025 deadline. The United States twice withdrew (under Trump in 2020 and again in 2025, according to accounts) – though in 2025 that withdrawal has not taken effect yet. A few developing countries struggle with accurate emissions inventories. In sum, parties are uneven in meeting even the soft requirements of reporting and updating NDCs.

• Reliance on future action: The Paris framework rests on trust that countries will “ratchet up” efforts in future NDC rounds (next due 2025–2026). Until these next pledges arrive, current Paris commitments are insufficient. There is no mechanism to force a mid-course correction before the next 5-year cycle. This means the status quo can persist dangerously.

• Finance and equity shortfalls: The Agreement reaffirmed a goal for rich countries to mobilize $100 billion/year in climate finance for developing nations. However, this pledge has consistently fallen short (OECD estimates < $100 billion through 2020). The lack of delivered funds undermines the cooperative spirit: many developing countries point out that the promised support for mitigation and adaptation has lagged. Likewise, Paris ambitiously mentions “loss and damage” for vulnerable countries but initially provided no funding mechanism (this only began to be addressed at COP27/28). In summary, the burden-sharing promises under Paris are still incomplete, which weakens trust and compliance.

Recent Developments and Climate Context

• IPCC warnings and records: The IPCC’s latest reports (AR6, 2021–2023) reinforce that time is running out. They show unequivocally that humans have caused ~1.1°C of warming so far, and that without drastic cuts (roughly halving global emissions by 2030) we will exceed 1.5°C in the near future. These scientific findings frame Paris’ relevance: Paris was built on IPCC warnings, yet the world is close to breaching its own threshold. The WMO confirms 2023 was likely the hottest year on record (~1.4°C above 1850–1900), shattering climate records and driving extreme heat, fires, floods and storms globally.

• COP28 and stocktake: In Dec 2023 (Dubai, COP28), countries completed the first global stocktake. As noted, they agreed the world is “not on track” to meet Paris targets. COP28 produced a non-binding declaration “to transition away from fossil fuels” (a first in UN history). While leaders hailed this as progress, many climate-vulnerable countries warned it was far too weak. For instance, a lead negotiator for small island states called the final accord “incremental” and insufficient. In short, even at the UN climate summit that was supposed to drive Paris action, the results were mixed: diplomatic consensus on the goal, but no new concrete commitments to close the emissions gap.

• Ongoing climate events: Meanwhile, real-world impacts keep escalating. Severe weather disasters – record wildfires in Canada and Hawaii, massive floods in Pakistan and eastern Europe, deadly heatwaves from India to Europe – have struck each year since Paris. The tally of billion-dollar disasters keeps rising (2023 set a new US record of 28 events). These events serve as a stark reminder: Paris was meant to avert precisely these catastrophes, yet losses mount. They also create political pressure on governments, arguably more than the technical Paris framework itself does.

Conclusion: Paris as a Foundation, Not a Cure

• The Paris Agreement represents an unprecedented global consensus on climate change. Its universal framework and transparency rules have galvanized diplomatic momentum and brought nearly all nations into the climate conversation. However, a critical review shows that Paris alone is not enough. Its reliance on voluntary NDCs, lack of enforcement, and the persistently low ambition of pledges mean that meeting the 1.5°C goal is increasingly remote. Countries are sharing information, but the legal architecture provides no guarantee of actual emissions cuts.

• So far, Paris has delivered symbolic unity rather than transformative action. Emissions continue to rise record-level, and the impacts of climate change worsen. Without a dramatic strengthening of targets and follow-through – in domestic policies and international cooperation – Paris will remain a framework of good intentions. As experts warn, only by “relentlessly strengthening mitigation action” and holding countries to account beyond peer pressure can we hope to close the gap.

• The shortcomings of Paris – non-binding goals, missed NDCs, and voluntary pledges – mean it must be supplemented by national laws, carbon pricing, finance delivery and perhaps future treaties with teeth. In its current form, Paris is a critical first step but not the destination. Real-world climate risk continues to outpace our collective response.

Sources: United Nations climate documents, expert analyses and recent data (UNFCCC, IPCC, UNEP, CFR, MIT, Reuters, Stanford, etc.)

Explore ESG Solutions on our marketplace - OneStop ESG Marketplace.

Keep abreast of the top ESG Events on OneStop ESG Events.

OneStop ESG Educate: Your go-to source for top ESG courses and training programs tailored to your needs.