According to the same study, meeting the commitments made by the previous government would reduce production in the following sectors by 2040: paper by 12%; 23% cement; 38% iron and steel; Coal — and I like miners — 86 per cent; Natural gas by 31%. The cost to the economy at this stage would be nearly $3 trillion in lost GDP and 6.5 million industrial jobs, while households would have $7,000 less income and, in many cases, much worse. While strengthening CNN`s ambitions is an important objective of the global inventory, efforts beyond mitigation are evaluated. The five-year revisions will also assess adaptation, climate change provisions, and technology development and transfer.  Even if the Paris Agreement were implemented in full and with full respect for all nations, it is estimated that it would produce only two tenths of a degree – remember; global temperature reduction by the year 2100. A small amount. In fact, 14 days of CO2 emissions from China alone would destroy America`s profits – and this is an incredible statistic – that would completely undo the benefits of the expected cuts in 2030, after we had to spend billions and billions of dollars, lose jobs, close factories and suffer much higher energy costs for our businesses and homes. A new theme that has proved to be the centre of gravity of the Paris negotiations was born out of the fact that many of the worst effects of climate change will be too severe or will come too quickly to be avoided by adaptation measures. The Paris Agreement explicitly recognizes the need to repair such losses and damages and seeks to find appropriate responses.  It is specified that losses and damage can take different forms, both as immediate effects of extreme weather events and as slow effects, such as land loss at sea level for deep islands.  Since November 2020, 194 states and the European Union have signed the agreement.
187 countries and the EU, which account for about 79% of global greenhouse gas emissions, have ratified the agreement or have joined the agreement, including China and India, the countries with the first and third largest CO2 emissions among UNFCCC members. T12   As of November 2020[update], the United States, Iran and Turkey are the only countries with more than 1% not to be contracting parties. The Paris Agreement is an agreement within the framework of the United Nations Framework Convention on Climate Change (UNFCCC) that deals with the reduction, adaptation and financing of greenhouse gas emissions from 2020. The agreement aims to address the threat of global climate change by keeping global temperatures well below 2 degrees Celsius above pre-industrial levels this century and to continue efforts to further limit the temperature increase to 1.5 degrees Celsius.  In the end, all parties recognized the need to „prevent, minimize and address losses and damages,“ but in particular any mention of compensation or liability is excluded.  The Convention also takes up the Warsaw International Loss and Damage Mechanism, an institution that will attempt to answer questions about how to classify, address and co-responsible losses.  Now, this future could be in jeopardy, as President Donald Trump prepares to withdraw the United States from the agreement – a step he can only legally take after the next presidential election – as part of a larger effort to dismantle decades of the United States.