Representatives from the world's nations meet in Sharm el-Sheikh, Egypt to draw a new set of rules for a global climate pact. Decades of climate talks have been connected with multiple jargon and acronyms.

Reached at the 2021 UN Climate Summit in Glasgow, Scotland. It marked the first time wherein it was decided to reduce the usage of fossil fuels. It also defined rules for the international trade of carbon markets. This pact also urges nations to come up with more ambitious climate plans.

The climate agreement has emerged as a successor to Kyoto Protocol. Earlier, the Paris Agreement of 2015 which aims to limit the rise in average global surface temperature.

The greenhouses gases such as methane, carbon dioxide, and CFCs are mainly responsible for warming the Earth's atmosphere.

The Paris accord legally bound it's signatories collectively to limit greenhouse gas emissions to keep the rise below 1.5°C. This would help to avert some of the most catastrophic effects.

The Conference of the Parties ( COP ) is the supreme body of the United Nations Framework Convention on Climate Change ( UNFCCC ) while the Nationally Determined Contributions ( NDCs ) are the pledges that each country makes to reduce it's emissions and adapt to climate change.

The principle of 'Common but Differentiated Responsibility' was also discussed in the Kyoto accord. Developed and Developing countries have differentiated responsibility towards climate change which comes out as one of the most thorny issues pertaining to climate change.

Hence, the richer countries have agreed to provide funding to address the impact of climate change. Poorer countries to press for an agreed basis to assess liability for the losses and damage caused by damage and calculate compensation.

Climate change has become a grim issue in the wake of modernity. It demands serious efforts and attention to address this grave challenge.

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References:

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