Even when the agreement was adopted, countries recognized that current emission reduction commitments were still not sufficient to meet these targets. The Paris Agreement provides for regular meetings every five years from 2018 to verify progress and explore ways to boost levels of ambition. Specific results of increased attention to adjustment financing in Paris include the announcement by the G7 countries of $420 million for climate risk insurance and the launch of a Climate Risk and Early Warning Systems (CREWS) initiative.  In 2016, the Obama administration awarded a $500 million grant to the “Green Climate Fund” as “the first part of a $3 billion commitment made at the Paris climate talks.”    To date, the Green Climate Fund has received more than $10 billion in commitments. The commitments come mainly from developed countries such as France, the United States and Japan, but also from developing countries such as Mexico, Indonesia and Vietnam.  The rapid entry into force of the Paris Agreement would trigger the operational provisions of the agreement and accelerate efforts to limit global temperature rise to well below 2 degrees Celsius and build resilience to climate change. 37. Welcomes the fact that China and other major competitors in the European Union`s energy-intensive industries are putting in place carbon-fixing mechanisms or other pricing mechanisms; considers that, until a level playing field is achieved, the European Union should maintain appropriate and proportionate measures to ensure the competitiveness of its industry and, if necessary, avoid carbon leakage, taking into account the fact that energy, industrial and climate policies go hand in hand; Since 9 September 2016, 28 countries that have tabled an instrument with the Secretary-General have: Barbados, Belize, Cameroon, China, Cook Islands, Democratic People`s Republic of Korea, Fiji, Grenada, Guyana, Lao Democratic People`s Republic, Maldives, Marshall Islands, Mauritius, Micronesia, Nauru, Norway, Palau, Peru, Samoa, Seychelles, Somalia, St. Christopher and Nevis, St. Lucia, St. Vincent and the Grenadines, State of Palestine, Tuvalu, United States of America.
In addition, 14 countries representing 12.58 per cent of emissions have committed to join the agreement in 2016, virtually ensuring that the agreement will enter into force this year. This agreement is a clear invitation from governments to be ready to implement the 2030 sustainable development agenda. In his invitation to the world`s heads of state and government, UN Secretary-General Ban Ki-moon said: “The next step in our common path to a low-carbon, climate-resilient future is to ensure the rapid entry into force of the Paris Agreement.” The 32-part document sets out a framework for global action on climate change, including climate change mitigation and adaptation, support for developing countries and transparency of reporting, and strengthening climate change goals. He intends to do this: “This is an important opportunity,” said UN Secretary-General Ban Ki-moon, when the latest ratification instruments were accepted as a table. “What seemed unthinkable is now inexorable. The strong international support for the entry into force of the Paris Agreement demonstrates the urgency of the measures and reflects the consensus of governments that robust global cooperation based on national measures is essential to address the climate challenge. On October 5, 2016, when the agreement reached enough signatures to cross the threshold, U.S. President Barack Obama said, “Even if we achieve all the goals… we will only get to part of where we need to go. He also said that “this agreement will help delay or avoid some of the worst consequences of climate change.”