COP 24 sought to break the stalemate of the 2015 Paris Agreement, which is supposed to take effect in 2020.
COP 24 is the most important conference on climate change since the Paris Agreement was adopted. COP 24 sought a roadmap for implementing the Paris Agreement to keep global warming below 2 degree Celsius above pre-industrial levels.
Consensus on regulations requiring countries to make transparent reports on their greenhouse gas emissions, mitigation, and adaptation measures was not easy to achieve. COP24 saw two weeks of thorny negotiations and went one day beyond the schedule. UN Secretary General Antonio Guterres delivered an opening speech urging negotiators to express their political will to protect the earth against global warming. The plan they came up with will require countries to report their emissions and progress in cutting them every two years beginning in 2024. Every five years countries can adjust their climate pledges. Developed countries agreed to help developing countries implement their plans on climate change response, greenhouse gas emissions, and clean energy.
Environmental groups say COP 24 set very unambitious goals for reducing greenhouse gases. It is unclear what obligation poor countries have with respect to a proposed 100-billion USD fund. What the conference showed was that the world agrees that climate change poses a grave danger but can’t yet agree what to do about it. The benefit of unchecked economic development still outweighs the benefit of environmental protection.