The agreement recognizes the role of parties in the fight against climate change, including cities, other sub-national authorities, civil society, the private sector and others. 6. Each agreement has taken a different approach to implementation: the approach to the Paris Agreement is technical, transparent, non-contradictory and non-punishable, while the Kyoto Protocol implements its commitments by suspending the emissions trading system and reducing additional emissions during the second commitment period; 5. Each agreement operates under different mechanisms: the Paris Agreement uses the NDCs as a basic instrument and the parties cooperate on a voluntary basis, while the Kyoto Protocol sets emission targets for industrialized countries; Commission communication to the European Parliament and Council, The Road from Paris: assessing the implications of the Paris Agreement and accompanying the proposal for a Council decision on the signing of the Paris agreement adopted under the United Nations Framework Convention on Climate Change, 2.3.2016 COM (2016) 110 final, p. 3.4 The Paris Agreement is the first universal agreement on behalf of the European Union. , a legally binding global agreement on climate change adopted at the Paris Climate Change Conference (COP21) in December 2015. To contribute to the goals of the agreement, countries presented comprehensive national climate change plans (national fixed contributions, NDC). These are not yet sufficient to meet the agreed temperature targets, but the agreement points to the way forward for further measures. The Paris agreement succeeds the Kyoto Protocol. Unlike the Kyoto Protocol (where all the commitments made by the parties to Appendix B have been expressed as absolute annual emission budgets for several years (top-down approach), the contributions of the Paris Agreement are formulated from the bottom up. The EU and its member states are among the nearly 190 parties to the Paris Agreement. The EU formally ratified the agreement on 5 October 2016, allowing it to enter into force on 4 November 2016. In order for the agreement to enter into force, at least 55 countries representing at least 55% of global emissions had to file their ratification instruments.

It will also enable the contracting parties to gradually strengthen their contributions to the fight against climate change in order to achieve the long-term objectives of the agreement. Paris Agreement (all language versions), UNFCCC website Download the full list of public events organized by Carbon Tracker at COP24 The Market Stability Reserve (MSR) temporarily removes a portion of the surplus from the ETS from the market.