The Paris Environmental Agreement

A recent study suggests that if the U.S. fails to meet its Paris climate goals, it could cost the economy up to $6 trillion in the coming decades. A global failure to comply with the DND currently set out in the agreement could reduce global GDP by more than 25% by the end of the century. Meanwhile, another study estimates that achieving – or even exceeding – that the Paris targets could be very beneficial on a global scale by investing in infrastructure in clean energy and energy efficiency, to the amount of about $19 trillion. Article 28 of the Agreement allows the parties to terminate the contract after having sent a notification of resignation to the depositary. The denunciation may take place for the country no earlier than three years after the entry into force of the agreement. The revocation shall take effect one year after the notification of the depositary. .

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