The agreement sets differentiated targets: developed nations must cut emissions 55% from 2019 levels by 2035, while emerging economies receive a longer runway with technology transfer guarantees.
Funding mechanism
A $200 billion adaptation fund will be replenished annually, financed partly by a levy on international shipping emissions. Fossil fuel lobby groups called the deal "economically reckless."
Environmental NGOs praised the binding nature of commitments but said the timeline still falls short of what scientists say is necessary to limit warming to 1.5°C.