<p><span class="KonaFilter image-container display-table float_right"><span><span data-post-image="" class="image on-image"></span><p></p></span></span>To say that money makes the world go 'round is no exaggeration - not even when it comes to fighting climate change. In fact, it's so important that the United Nations has created a fund just for climate-related cash - and its balance just broke $10 billion.</p>
<p>The United Nations Framework Convention on Climate Change (UNFCCC) established the <a href="http://news.gcfund.org/">Green Climate Fund</a> in 2010 as a way to help developing countries curb their carbon emissions without breaking the bank. The fund takes donations from developed nations and distributes them to developing ones to offset the costs of switching to renewable energy sources and adapting to the effects of climate change.</p>
<p>The idea is to help correct <a href="http://www.businessinsider.com/how-does-india-play-into-the-climate-change-game-2014-12">an inequality that many developing nations feel is unfair</a>. The vast majority of greenhouse gases currently in the atmosphere were put there by developed countries, whose economies are now stable enough to start cutting their emissions and switching to renewable energy sources.</p>
<p>These same countries are now asking developing nations to start slashing their carbon output -which is steadily increasing, as these countries continue to industrialize and build their economies - before they've achieved the same prosperity.</p>
<p>On top of that, these developing nations will be more affected by climate change consequences, like storms, droughts, floods, and famines, all of which could cause increased poverty and civil unrest around the world.</p>
<p>It's not fair, and everyone knows it, but action must be taken to cut carbon emissions from every country - or the whole world will suffer. The Green Climate Fund is meant to make this easier for developing countries, and give developed ones the opportunity to take responsibility for their part in causing climate change.</p>
<p>So far, nations including the United States, Japan, the United Kingdom, France, and Germany have pledged a total of nearly $10.2 billion to the fund. But its goals are more ambitious yet.</p>
<p>The UNFCCC hopes to bet on getting&#xa0;<strong>$100 billion per year by 2020</strong>. It's a lofty target, and one that some nations think isn't possible on the honor system alone. Some want to require developed countries to pledge money to the fund in an internationally binding agreement.</p>
<p>The agreement in question has been in negotiations all week at a <a href="http://www.businessinsider.com/why-care-about-lima-climate-change-meeting-2014-12">UNFCCC climate conference</a> in Lima, Peru. The primary goal at this conference is to draft an emissions reduction agreement, in which all participating countries will submit a plan to reduce their carbon emissions starting in 2020.</p>
<p>Some nations also want the agreement to require developed countries to pledge money to the fund. It's unclear whether this request will make it into the draft, which is expected to be completed tonight.</p>

Countries Are Donating Billions To A Global Fund - Here's What It's For

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>In December 2015, nearly every country, including all of the world's biggest polluters, came together in Paris and agreed to limit carbon emissions.</p><p>The Paris Agreement was designed to keep the planet from warming by more than <a href="http://newsroom.unfccc.int/unfccc-newsroom/finale-cop21/">1.5 degrees Celsius</a> above preindustrial levels.</p><p>It was a cornerstone of President Barack Obama's environmental legacy. Now President Donald Trump is <a href="http://www.businessinsider.com/trump-paris-agreement-climate-change-2017-6">withdrawing the US</a> from the accord.</p><p>Here's a quick primer on the Paris Agreement.</p><h2>What did the US agree to?</h2><p>The Paris Agreement laid out a framework for countries to adopt clean energy and phase out fossil fuels. <a href="https://www.c2es.org/international/2015-agreement/indcs">Each country</a> submitted a climate-action plan laying out how it would achieve these goals.</p><p>The <a href="http://www4.unfccc.int/ndcregistry/PublishedDocuments/United%20States%20of%20America%20First/U.S.A.%20First%20NDC%20Submission.pdf">US's plan</a>, which the Obama administration submitted in <a href="https://obamawhitehouse.archives.gov/the-press-office/2015/03/31/fact-sheet-us-reports-its-2025-emissions-target-unfccc">March 2015</a>, set the goal of reducing greenhouse gas emissions by 26% to 28% by 2025. The baseline level this reduction is measured against is 2005, when the US emitted <a href="https://www3.epa.gov/climatechange/ghgemissions/inventoryexplorer/#iallsectors/allgas/gas/all">6,132 million metric tons of carbon dioxide</a>.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div></p><p>Most greenhouse gases come from <a href="https://www.eia.gov/energyexplained/index.cfm?page=environment_where_ghg_come_from">burning fossil fuels</a> like oil, coal, and natural gas, but they also come from using fertilizers, raising livestock, and maintaining landfills. <a href="https://www.eia.gov/energyexplained/index.cfm?page=environment_about_ghg">Greenhouse gases include</a> carbon dioxide, methane, and hydrofluorocarbons.</p><p>Obama signed an executive order confirming the US's adoption of the agreement, but he <a href="https://www.c2es.org/international/2015-agreement/paris-climate-talks-qa">didn't submit it to Congress for approval</a>. That's how Trump is able to "cancel" the US's commitment to the accord.</p><p>The Obama administration also enacted carbon-cutting measures to put the country on track to meet the goals set in Paris and position the US as a leader in fighting climate change. Under Obama, the US started to reduce its emissions, both because of the <a href="http://www.businessinsider.com/2015-global-renewable-energy-record-2016-3">rise in affordable renewable energy</a> and the abundance of natural gas due to fracking.</p><p>Congress <a href="https://www.c2es.org/docUploads/legal-options-us-acceptance-new-climate-change-agreement.pdf">never ratified the Kyoto Protocol</a>, an extension of an international climate agreement established in 1992, essentially making it moot. Some experts worry the same thing could happen to the Paris Agreement.</p><h2>Who supported it?</h2><p><div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image on-image"><a title_source="Skye Gould/Business Insider" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/59317f42b74af41c008b600b-960/bi-graphicsparis agreement.png"><span class="sprites click-to-enlarge-icon" title="Click to enlarge"></span></a><p class="source"><span>Skye Gould/Business Insider</span></p></div><p></p></div></div></p><p>One hundred ninety-five countries agreed to the Paris accord, and only Syria and Nicaragua didn't sign it.</p><p>The US is the <a href="https://obamawhitehouse.archives.gov/the-press-office/2014/11/11/fact-sheet-us-china-joint-announcement-climate-change-and-clean-energy-c">world's second-largest carbon emitter</a>, after China. Together, the countries <a href="https://www.epa.gov/ghgemissions/global-greenhouse-gas-emissions-data">accounted for 45%</a> of the world's carbon dioxide emissions in 2014. This was the first climate accord that both superpowers agreed to, which legal experts heralded as the best sign of its long-term worldwide success.</p><p>Two-thirds of Americans said they supported signing onto an agreement that would legally bind the US and the rest of the world to cut carbon emissions, according to a <a href="http://www.nytimes.com/2015/12/01/world/americas/us-climate-change-republicans-democrats.html">New York Times/CBS News poll released</a> before talks began in Paris.</p><p>A <a href="http://www.pewinternet.org/2016/10/04/the-politics-of-climate/">2016 Pew poll</a> found that 48% of Americans believed that the Earth was warming because of human activity, and 49% believed an international agreement to limit carbon emissions could make a big difference in addressing climate change.</p><p>But the concern is growing. A <a href="http://www.gallup.com/poll/206030/global-warming-concern-three-decade-high.aspx">March 2017 Gallup survey</a> found that 45% of Americans worried "a great deal" about global warming and 68% believed humans were causing it.</p><p>Major companies support the Paris Agreement. Apple, BP, Google, Microsoft, Shell, and several others <a href="https://www.c2es.org/docUploads/business-letter-white-house-paris-agreement-final-04-26-2017.pdf">sent Trump a letter</a> in April encouraging him to keep the US in the pact because it strengthened their competitiveness, created jobs, and reduced business risk.</p><h2>Why does it matter?</h2><p><div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image on-image"><a title_source="Ian Langsdon/REUTERS" title_caption="World leaders pose for a family photo during the opening day of the World Climate Change Conference 2015 (COP21) at Le Bourget, near Paris, France, November 30, 2015. REUTERS/Ian Langsdon/Pool" class="zoomin" href="https://static-ssl.businessinsider.com/image/565cebf4dd08955b3f8b4754-960/rtx1whq1.jpg"><span class="sprites click-to-enlarge-icon" title="Click to enlarge"></span></a><p class="source"><span><a href="http://pictures.reuters.com/C.aspx?VP3=SearchResult&amp;VBID=2C0BXZZSC79SH&amp;SMLS=1&amp;RW=1764&amp;RH=901&amp;PN=4&amp;POPUPPN=201&amp;POPUPIID=2C0BF1OC1XPB5&amp;RW=1764&amp;RH=901">Ian Langsdon/REUTERS</a></span></p><p class="caption">World leaders pose for a family photo during the opening day of the World Climate Change Conference 2015 (COP21) at Le Bourget, near Paris, France, November 30, 2015. REUTERS/Ian Langsdon/Pool</p></div><p></p></div></div></p><p>Climate experts say that an increase of more than 2 degrees Celsius in the planet's temperature could bring about irreversible consequences, including a rise in sea level, superstorms, and crippling heat waves. It was estimated in 2011 that the <a href="https://climate.nasa.gov/news/649/secrets-from-the-past-point-to-rapid-climate-change-in-the-future/">average global surface temperature</a> was increasing at a rate of more than 0.1 degree Celsius a decade.</p><p>"We have entered a new era of global cooperation on one of the most complex issues ever to confront humanity," Ban Ki-moon, who was at the time the UN secretary-general, <a href="http://newsroom.unfccc.int/unfccc-newsroom/finale-cop21/">said after the accord signing</a> in December 2015. "For the first time, every country in the world has pledged to curb emissions, strengthen resilience, and join in common cause to take common climate action. This is a resounding success for multilateralism."</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/what-us-looks-like-if-earth-ice-melted-animated-map-2017-5">Animated map shows what the US would look like if all the Earth's ice melted</a></h3>        <div>                    </div>    </div>

Here's what the US actually agreed to in the Paris climate deal

<p></p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>The <a href="http://www.cop21.gouv.fr/en/">United Nations Climate Change Conference</a>, also called COP21, kicked off in Paris November 30, and they don't end until December 11.<p>Over the next couple weeks we'll see history unfold, since the Paris talks could be where the world finally agrees to a legally binding, specific plan to limit carbon emissions.</p><p>Global leaders from <a href="http://asp-edu.net/pamun/pamun2013/wp-content/uploads/2015/05/COP21-Country-List-by-Groupings.pdf">195 countries</a> are going to try to figure out how to <a href="http://www.cop21.gouv.fr/en/why-2c/">keep global warming under 2 degrees Celsius</a>, and <a href="http://newsroom.unfccc.int/unfccc-newsroom/un-member-states-agree-sustainable-development-goals/">raise $100 billion per year</a> by 2020 to do so.</p><p>Luckily, the internet has lots of ways to stay up to date with the monumental decisions that are being made at the conference, even if you can't be there in person.</p><h2>Watch Live:</h2><ul><li>The <a href="http://unfccc6.meta-fusion.com/cop21/">UN has a livestream</a> of all the sessions, which you can <a href="http://unfccc6.meta-fusion.com/cop21/events">play back on demand</a>.</li><li><a href="http://webtv.un.org/">UN Web TV</a> is another 24-hour live and on-demand option if the livestream doesn't have everything you want.</li><li><a href="https://climatetalkslive.org/">Climate Talks Live</a> is also keeping track of what's trending by the hour.</li></ul><h2>Read the best coverage:</h2><p>If you want to catch up on the day's events, check in on the <a href="http://www.nytimes.com/interactive/projects/cp/climate/2015-paris-climate-talks">New York Times' live blog</a>.</p><p><a href="http://live.reuters.com/Event/Conference_of_Parties_-_COP21">Reuters has a very visually engaging live blog</a>, too.</p><p>And <a href="http://www.bbc.com/news/live/science-environment-34922775">the BBC</a>, of course, has lots of video.</p><h2>Follow who is there, on Twitter:</h2><p>Twitter has multiple hashtags for the event, with <a href="https://twitter.com/hashtag/COP21?src=tren">#cop21</a> being the most popular. They even made neat little emojis that automatically get added when you use the hashtags.</p><p><div></div></p><p><strong>Here are a few other twitter accounts to follow:</strong></p><p><strong>The official conference account</strong></p><p><div><a class="twitter-timeline" href="https://twitter.com/COP21" data-widget-id="671487362791284737">Tweets by @COP21</a></div></p><p><strong>Christiana Figueres, Executive Secretary of the UN Framework Convention on Climate Change</strong></p><p><div><a class="twitter-timeline" href="https://twitter.com/CFigueres" data-widget-id="671490390906806273">Tweets by @CFigueres</a></div></p><p><strong>Narendra Modi, Prime Minister of India</strong></p><p><div><a class="twitter-timeline" href="https://twitter.com/narendramodi" data-widget-id="671486898246967297">Tweets by @narendramodi</a></div></p><p><strong>David J. Unger, Energy editor at Christian Science Monitor</strong></p><p><div><a class="twitter-timeline" href="https://twitter.com/dungerdunger" data-widget-id="671489051564843009">Tweets by @dungerdunger</a></div></p><p><strong>Megan Rowling, Reuters</strong></p><p><div><a class="twitter-timeline" href="https://twitter.com/meganrowling" data-widget-id="671488875186028548">Tweets by @meganrowling</a></div></p><p><strong>Justin Catanoso, environmental journalist </strong></p><p><div><a class="twitter-timeline" href="https://twitter.com/jcatanoso" data-widget-id="671488713663344640">Tweets by @jcatanoso</a></div></p><p><strong>Perrin Ireland, science communications specialist at the Natural Resources Defense Council </strong></p><p><div><a class="twitter-timeline" href="https://twitter.com/experrinment" data-widget-id="671490045526847489">Tweets by @experrinment</a></div></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/china-water-air-pollution-facts-2015-11">If you think China's air is bad, you should see the water</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="00M2x5djrJmRvdC9hAqX_wHdniS8Rh2j" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Here are the best ways to follow the Paris climate talks

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>Good morning! Here are 10 things you need to know in markets today.</p><p><strong>Capital controls have come into force in Greece.</strong> <a href="http://uk.businessinsider.com/greece-bank-holiday-2015-6">Greek banks will remain closed until at least July 6</a>, citizens will be limited to withdrawing €60 (£42, $66) a day and the Athens Stock Exchange will be shut all week.</p><p><strong>The Euro is tumbling amid fears of a Grexit.</strong> <a href="http://uk.businessinsider.com/r-euro-stock-futures-plunge-on-greece-default-fears-2015-6">The Euro dropped almost 2% overnight</a>, while futures are also down.</p><p><strong>Asian markets are also nosediving on Eurozone worries.</strong> <a href="http://uk.businessinsider.com/asian-markets-are-getting-smashed-2015-6">The Nikkei closed down over 2.4% overnight</a>, while the Hang Seng is currently down 3.8% and the Shanghai Composite is down over 5%.</p><p><strong>Puerto Rico is on the verge of default.</strong> Speaking Sunday evening the island's governor, Alejandro García Padilla, said <a href="http://uk.businessinsider.com/puerto-rico-is-on-the-verge-of-default-2015-6">the commonwealth can't pay its roughly $72 billion (£45.8 billion) in debts</a>.</p><p><strong>SpaceX's Falcon 9 rocket exploded Sunday only a few minutes after launch.</strong> The rocket, <a href="http://uk.businessinsider.com/spacex-crash-wont-deter-company-2015-6">which was meant to be reusable</a>, was an unmanned cargo capsule headed to the International Space Station.</p><p><strong>China is expected to unveil its long-awaited national pledges to reduce carbon emissions beyond 2020.</strong> The world's number one emitter <a href="http://www.businessinsider.com/afp-chinas-un-climate-pledges-expected-state-media-2015-6?IR=T">has yet to put forward its intended nationally determined contribution (INDC)</a>, as the pledges are called by the UN Framework Convention on Climate Change (UNFCCC).</p><p><strong>Amazon is reportedly planning to launch its business loan program for small sellers later this year in eight more countries including China. </strong>Until now, the online retailer has <a href="http://www.businessinsider.com/r-exclusive-amazon-to-offer-loans-to-sellers-in-china-7-other-countries-2015-6?IR=T">offered the working capital service only in the United States and Japan</a>.</p><p><strong>New York's banking regulator is probing an emerging benchmark trading scandal relating to the suspected manipulation of US interest rate swaps.</strong> <a href="http://www.ft.com/cms/s/0/9068763e-1da8-11e5-ab0f-6bb9974f25d0.html#axzz3eQUV9qsc">The FT reports that the Department of Financial Services is investigating the so-called Isdafix benchmark</a>, which is used by traders to set the prices for interest rate swaps.</p><p><strong>A London-based upmarket rival to home rental platform Airbnb has raised $40 million (£25 million) from investors including Hyatt Hotels.</strong> onefinestay plans to <a href="http://uk.businessinsider.com/upmarket-airbnb-rival-onefinestay-just-raised-25-million-2015-6">use the money to expand to more cities in Europe</a>.</p><p><strong>Argentina will pursue in Britain and the United States a local judge's order to seize assets of oil drillers operating in the disputed Falklands Islands.</strong> The <a href="http://www.businessinsider.com/r-argentina-will-pursue-judge-order-on-falklands-drillers-minister-2015-6?IR=T">Argentinian foreign minister said in an interview</a> that the government will pursue the seizure of $156 million (£99.3 million) in bank accounts, boats and other property of six European and U.S. oil companies operating in the islands.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/new-omega-globemaster-watch-unboxing-2015-5">Forget the Apple Watch - here's the new watch everyone on Wall Street wants</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="5iaDNwdDrYYMm2yipFb14ndbRkPnemqO" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

10 things you need to know in markets today

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>World leaders, gathered this week in Lima, Peru, are on a mission to save the world.</p>
<p>They're working on a landmark international agreement which, if successful, could change the course of the planet's future.</p>
<p>The gathering in question is the <a href="http://unfccc.int/2860.php">United Nations Framework Convention on Climate Change</a> (UNFCCC), which began last Monday, Dec. 1, and will continue through this Friday, Dec. 12.</p>
<p>Its major goal: to develop the skeleton of an international agreement to curb greenhouse gas emissions and prevent the worst consequences of climate change.</p>
<p>The agreement, which will include individual emissions reduction plans from nearly 200 countries, will be finalized and signed at 2015's convention in Paris and will go into effect after 2020.</p>
<p>It's a monumental undertaking for the governments and negotiators designing the deal - but ordinary citizens should be keeping an eye on Lima, too. Here's why:</p>
<h2>The Lima framework will spell the success of the next-year's future-changing agreement.</h2>
<p>Paris is going to be the ultimate meeting to keep an eye on - after all, that's where the final agreement will be presented and signed. But this means negotiators must be all the more careful to put out a carefully designed and workable draft in Lima this week.</p>
<p>The draft that comes out of Lima won't contain every country's concrete emissions reduction plan right away. The agreement for now is that each participating country add its plan to the document by March 2015, so that everything is ready for the December signing in Paris. But there are still a lot of rules to hammer out in the meantime.</p>
<p>One major question nations hope to decide at Lima is how the agreement will be enforced. <a href="http://www.nytimes.com/2014/12/10/world/with-compromises-a-global-accord-to-fight-climate-change-is-in-sight.html?_r=0">The New York Times reports</a> that some nations, including the United States, have opposed the idea of a ratified, legally binding document. And the same article reports that other nations, such as China, have pushed back at the suggestion of any outside monitoring of the promised emissions cuts. Settling these issues is a major hurdle to completing a document that will be effective and satisfactory to all parties.</p>
<p>Money is another big question. The Green Climate Fund is a United Nations project - a fund that will distribute money to developing nations to aid them in mitigating their carbon emissions. The fund works on the premise that developed nations, whose economies are stable enough to afford emissions cuts, will donate.</p>
<p>Right now, the fund contains about $10 billion in donated cash, and the UN hopes to increase these donations to the amount of $100 billion annually by 2020. These donations are a crucial part of the UN plan to make emissions reductions feasible for all countries - but it's still unclear whether donations will be a required part of the Paris agreement for developed nations.</p>
<p>This is another detail that, with any luck, negotiators will figure out by the end of this week.</p>
<h2>The Paris agreement could prevent some catastrophic climate change consequences.</h2>
<p>The agreement being drafted at this year's convention will, ideally, set limits that will reduce overall global emissions to a point that will keep temperatures inside a safe range - within 2 degrees Celsius of their pre-industrial levels.</p>
<p>This was the goal set at the <a href="http://unfccc.int/meetings/copenhagen_dec_2009/meeting/6295.php">2009 UN Climate Change Conference</a>, and beyond this point, many scientists have warned that the planet could experience a domino-like series of catastrophic consequences, including rapid ice melt and sea-level rise, extreme weather events, food shortages, and extinctions. These events will affect hurt everyone, and could even hurt future generations' ability to survive on the planet.</p>
<p>The fact that every country is in charge of designing its own emissions cuts could be problematic: It means that every nation will be coming up with a domestic goal, based on what it thinks it can reasonably afford, rather than everyone collaborating to set a global emissions goal that will definitely meet the 2-degree target.</p>
<p>Many experts are increasingly pessimistic about our ability to actually meet this target: As it is, the world is on track to <a href="http://www.businessinsider.com/when-will-climate-change-be-out-of-control-2014-9">blow past the 2-degree goal</a> by mid-century. So, while ultimately it's up to the participating countries to come up with ambitious enough emissions cuts for the final agreement, it's crucial for the Lima negotiators to put out a workable draft this week if we want any hope of making the cut.</p>
<h2>This is our chance to repeat history - the right way.</h2>
<p>This is not the first time the UNFCCC has convened with such a goal in mind. The first international emissions reduction agreement was the 1997 <a href="http://unfccc.int/kyoto_protocol/items/2830.php">Kyoto Protocol</a>, which set binding emissions reduction targets for 37 developed countries.</p>
<p>The Protocol was designed to occur over two periods of time. From 2008 to 2012, participants agree to cut their emissions down to an average of 5 percent below their 1990 levels. From 2013 to 2020, participants are expected to cut their emissions down to 18 percent below 1990 levels.</p>
<p>While some of the Kyoto signers met their targets in the first commitment period, global emissions as a whole have showed no signs of slowing down. This is at least partly thanks to a sharp emissions increase in certain developing nations, such as China, which is now the largest emitter of greenhouse gases in the world.</p>
<p>It's important to keep an eye on Lima to see how this draft will differ from the Kyoto Protocol, and whether these differences are likely to make the Paris agreement more successful that its predecessor.</p>
<h2>We've already got some momentum going.</h2>
<p><div class="KonaFilter image-container display-table float_left"><div><div class="image on-image"></div><p></p></div></div>Still, there's been some room for optimism already.</p>
<p>The US and China announced a historic climate deal last month, whereby the US agreed to cut its emissions down to about 26 percent below their 2005 levels, and China - whose greenhouse gases have been increasing for years - agreed to cap its emissions in 2030.</p>
<p>The plan is <a href="http://www.businessinsider.com/us-china-climate-deal-save-carbon-2014-12">by no means enough</a> to save the world on its own, but it's a start. And in October, the European Union agreed to cut its emissions down to 40 percent below their 1990 levels.</p>
<p>As the week wears on, climate activists may have some hope that the convention will close with a solid framework for Paris, which political leaders - particularly UN Secretary General Ban Ki-Moon - have touted as the real event to look forward to. But unless a concrete foundation is laid at this year's convention, there can be no success in Paris - which is why all eyes remain trained on Lima.</p>

There's A Huge Climate Meeting Happening In Lima -&#160;Here's Why You Should Be Paying Attention

<p class="source"><span>Sean Gallup/Getty Images</span></p><p>President Trump is expected to announce his decision to pull the US out of the Paris climate agreement this afternoon.</p><p>If the US withdraws from the accord, the consequences for the environment will be serious - but the additional carbon dioxide (CO2) and global temperature rise that we should expect depends on what other countries decide to do as a result of the US decision.</p><p>As the researchers at Climate Interactive have <a href="https://www.climateinteractive.org/analysis/us-role-in-paris/">broken down in a detailed analysis</a>, whatever the US does "matters a great deal," since through 2030, the US part of the agreement is responsible for more than a fifth (21%) of all emissions avoided.</p><p>If the US abandons the agreement, Climate Interactive calculates that by 2025, the country would emit 6.7 gigatons of CO2 per year instead of the 5.3 gigatons of CO2 per year that would be emitted following current commitments, raising global emissions by 3%, with even bigger consequences by 2030 (Climate Interactive calculated 2025-2030 commitments based on the Marrakesh climate talks).</p><p>If other countries were to stick to the pact, that decision could be expected to warm the world an additional .3 degrees Celsius by 2100. But if the US decision puts other aspects of the Paris Agreement in doubt, the consequences are more complicated.</p><h2>What the US committed to</h2><p>When the US signed onto the Paris Agreement in December of 2015, the country set a goal to reduce greenhouse gas emissions by 26% to 28% by 2025, as my <a href="http://www.businessinsider.com/what-did-us-agree-to-paris-climate-deal-2017-5">colleague Rebecca Harrington has explained</a>.</p><p class="source"><span><a href="http://www4.unfccc.int/ndcregistry/PublishedDocuments/United%20States%20of%20America%20First/U.S.A.%20First%20NDC%20Submission.pdf">UNFCCC</a></span></p><p>There are reasons for ambitious goals - the US is the biggest polluter in history, "responsible for almost a third of the excess carbon dioxide that is heating the planet," <a href="https://www.nytimes.com/interactive/2017/06/01/climate/us-biggest-carbon-polluter-in-history-will-it-walk-away-from-the-paris-climate-deal.html">according to the New York Times</a>. These days, <a href="http://www.businessinsider.com/who-is-responsible-for-climate-change-2015-7">China emits more CO2 overall</a> than the US, though US citizens still are responsible for more than twice as much CO2 per capita - the most of anyone in the world.</p><p>The <a href="http://unfccc.int/paris_agreement/items/9485.php">Paris Agreement</a> is a commitment to try to keep global temperature from rising more than 2 degrees Celsius above pre-industrial levels - something climate experts say is necessary to avoid devastating and irreversible consequences, including rising sea levels, searing heat waves, and more.</p><p class="source"><span>Climate Interactive</span></p><p>As the Climate Interactive analysis shows, the pledges countries (the US included) made because of the Paris Agreement alone are extremely unlikely to achieve this goal. The agreement includes plans for countries to revisit their emissions goals periodically. If all countries reached "peak emissions" by 2030 and then cut them at a rate of 5% per year in developed countries and 3.5% per year in developing countries, Climate Interactive estimates that the 2 degree goal could be met.</p><h2>Consequences of a US departure</h2><p>But if the US pulls out, the calculus changes.</p><p>As of right now, it looks like a number of other countries are on track for hitting the goals they set as a result of the Paris Agreement. China and European allies have committed to sticking with the pact.</p><p>However, part of the agreement also included the US and other countries helping fund efforts to reduce emissions in developing countries. Obama pledged $3 billion to a fund dedicated to this purpose, but only $1 billion has been transferred so far. Trump <a href="https://www.nytimes.com/interactive/2017/06/01/climate/us-biggest-carbon-polluter-in-history-will-it-walk-away-from-the-paris-climate-deal.html?hp&amp;action=click&amp;pgtype=Homepage&amp;clickSource=story-heading&amp;module=first-column-region&amp;region=top-news&amp;WT.nav=top-news">has said he wants</a> to drop those commitments. Countries including India (the third-biggest emitter), China, Brazil, and South Africa have <a href="https://www.environment.gov.za/mediarelease/jointstatementon24thbasicministerialmeetingonclimatechange">issued a statement urging</a> developed countries to honor their financial pledges in order to reduce emissions.</p><p>If a US departure and financial pullback affects the commitments of other countries, here's what Climate Interactive calculates will happen to the environment:</p><ul><li>If the US pulls out and reverts to an emissions-as-usual strategy but other countries maintain their current pledges, Climate Interactive calculates that by 2025, the US would emit 6.7 gigatons of CO2 instead of the 5.3 gigatons of CO2 that would be emitted if the US follows its commitments. They calculate this would lead to a temperature 3.6 degrees C above pre-industrial averages by 2100 (uncertainty range 2.1 to 4.7 degrees C).</li><li>If Paris pledges are followed by the world but not improved on, Climate Interactive calculates that by 2100, the world will be 3.3 degrees C warmer than in pre-industrial times (uncertainty range 1.9-4.4 degrees C).</li><li>If the world were to drop the Paris agreement altogether and follow current trends, Climate Interactive calculates the world would be 4.2 degrees C warmer by 2100 (uncertainty range 2.5 to 5.5 degrees C).</li><li>To keep temperatures from rising 2 degrees C by 2100, countries need to reach peak emissions by 2030 and then steadily cut emissions from there, investing in clean energy alternatives to fossil fuels.</li></ul><p>Even if Trump decides to pull the US out of the agreement, there are other factors that could change the calculus. State and local decisions, market trends away from fossil fuels, private efforts, and future political administrations may all attempt to achieve the original US pledge, especially if the rest of the world remains committed.</p><p>Trump's announcement on his decision to hold to the agreement or leave it is expected at 3:00 pm on June 1.</p>            <h3>NOW WATCH: <a href="http://www.businessinsider.com/dermatologist-skincare-products-avoid-stem-cells-2017-5">A dermatologist says these popular skin products are a waste of money</a></h3>                                    Please enable Javascript to watch this video

Here's what will happen to the environment if Trump pulls the US out of the Paris Agreement

<p class="source"><span>Thomson Reuters</span></p><p class="caption">Demonstrators gather for People's Climate March in Washington in April 2017.</p>In December 2015, nearly every country, including all of the world's biggest polluters, came together in Paris and agreed to limit carbon emissions.<p>The Paris accord was designed to keep the planet from warming by more than <a href="http://newsroom.unfccc.int/unfccc-newsroom/finale-cop21/">1.5 degrees Celsius</a> above preindustrial levels.</p><p>It was a cornerstone of President Barack Obama's environmental legacy. Now President Donald Trump is <a href="http://www.businessinsider.com/trump-decides-to-withdraw-from-paris-climate-deal-2017-5">reportedly planning to withdraw the US</a> from the accord.</p><p>Here's a quick primer on the Paris agreement.</p><h2>What did the US agree to?</h2><p>The Paris agreement laid out a framework for countries to adopt clean energy and phase out fossil fuels. <a href="https://www.c2es.org/international/2015-agreement/indcs">Each country</a> submitted its own climate-action plan laying out how it would achieve these goals.</p><p>The <a href="http://www4.unfccc.int/ndcregistry/PublishedDocuments/United%20States%20of%20America%20First/U.S.A.%20First%20NDC%20Submission.pdf">US's plan</a>, which the Obama administration submitted in <a href="https://obamawhitehouse.archives.gov/the-press-office/2015/03/31/fact-sheet-us-reports-its-2025-emissions-target-unfccc">March 2015</a>, set the goal of reducing greenhouse gas emissions by 26% to 28% by 2025. The baseline level this reduction is measured against is 2005, when the US emitted the equivalent of <a href="https://www3.epa.gov/climatechange/ghgemissions/inventoryexplorer/#iallsectors/allgas/gas/all">6,132 million metric tons of carbon dioxide</a>.</p><p class="source"><span><a href="http://www4.unfccc.int/ndcregistry/PublishedDocuments/United%20States%20of%20America%20First/U.S.A.%20First%20NDC%20Submission.pdf">UNFCCC</a></span></p><p>The vast majority of greenhouse gases come from <a href="https://www.eia.gov/energyexplained/index.cfm?page=environment_where_ghg_come_from">burning fossil fuels</a> like oil, coal, and natural gas, but also arise from using fertilizers, raising livestock, and maintaining landfills. These <a href="https://www.eia.gov/energyexplained/index.cfm?page=environment_about_ghg">gases include</a> carbon dioxide, methane, and hydrofluorocarbons.</p><p>Obama signed an executive order confirming the US's adoption of the agreement, but <a href="https://www.c2es.org/international/2015-agreement/paris-climate-talks-qa">didn't submit it to Congress for approval</a>. That's how Trump is able to "cancel" the US's commitment to the accord if he chooses.</p><p>The Obama administration also used its power to enact as many carbon-cutting measures as possible to set the country on track to meet the goals set in Paris, and position the US as a leader in fighting climate change. Under Obama, the US was already starting to reduce its emissions, both because of the <a href="http://www.businessinsider.com/2015-global-renewable-energy-record-2016-3">rise in affordable renewable energy</a> and the abundance of natural gas due to fracking.</p><p>The US <a href="https://www.c2es.org/docUploads/legal-options-us-acceptance-new-climate-change-agreement.pdf">Congress never ratified the Kyoto Protocol, a previous international climate agreement established in 1992</a>, essentially making the entire global agreement moot. Legal experts warn the same thing could happen to the Paris agreement if Trump withdraws US support.</p><h2>Who supported it?</h2><a class="zoomin" href="https://static-ssl.businessinsider.com/image/565cebf4dd08955b3f8b4754-960/rtx1whq1.jpg"><span class="sprites click-to-enlarge-icon" title="Click to enlarge"></span></a><p class="source"><span><a href="http://pictures.reuters.com/C.aspx?VP3=SearchResult&amp;VBID=2C0BXZZSC79SH&amp;SMLS=1&amp;RW=1764&amp;RH=901&amp;PN=4&amp;POPUPPN=201&amp;POPUPIID=2C0BF1OC1XPB5&amp;RW=1764&amp;RH=901">Ian Langsdon/REUTERS</a></span></p><p class="caption">World leaders pose for a family photo during the opening day of the World Climate Change Conference 2015 (COP21) at Le Bourget, near Paris, France, November 30, 2015. REUTERS/Ian Langsdon/Pool</p><p>Only Syria and Nicaragua didn't sign the Paris agreement - 195 countries agreed to it. </p><p>The US is the <a href="https://obamawhitehouse.archives.gov/the-press-office/2014/11/11/fact-sheet-us-china-joint-announcement-climate-change-and-clean-energy-c">world's second-largest carbon emitter</a> after China. Together, both countries account for <a href="https://www.epa.gov/ghgemissions/global-greenhouse-gas-emissions-data">45%</a> of the world's carbon dioxide emissions. This was the first climate accord that both superpowers agreed to, which legal experts heralded as the best sign of its longterm success worldwide.</p><p>Two-thirds of Americans said they supported signing on to an agreement that would legally bind the US and the rest of the world to cut carbon emissions, according to a <a href="http://www.nytimes.com/2015/12/01/world/americas/us-climate-change-republicans-democrats.html">New York Times/CBS News poll released</a> before talks began in Paris. A <a href="http://www.pewinternet.org/2016/10/04/the-politics-of-climate/">2016 Pew poll</a> found that 48% of Americans believe that the Earth is warming because of human activity, and 49% believe an international agreement to limit carbon emissions could make a big difference in addressing climate change.</p><p>But concern is growing. A <a href="http://www.gallup.com/poll/206030/global-warming-concern-three-decade-high.aspx">March 2017 Gallup survey</a> found that 45% of Americans worry "a great deal" about global warming, and that 68% believe humans are causing it.</p><p>Major companies supported the Paris agreement, as well. Apple, BP, Google, Microsoft, Shell, and several other companies sent Trump a <a href="https://www.c2es.org/docUploads/business-letter-white-house-paris-agreement-final-04-26-2017.pdf">letter</a> in April encouraging him to keep the US in the pact because they believe it strengthens their competitiveness, creates jobs, and reduces business risk.</p><h2>Why does it matter?</h2><p>Climate experts warn that an increase <a href="http://www.cop21.gouv.fr/en/why-2c/">of more than 2 degrees Celsius could bring irreversible consequences</a>, from a rise in sea level to superstorms and crippling heat waves. Amid today' emissions levels, the <a href="https://climate.nasa.gov/news/649/secrets-from-the-past-point-to-rapid-climate-change-in-the-future/">average global surface temperature</a> is increasing at a rate of about 0.1 degrees Celsius a decade.</p><p>"We have entered a new era of global cooperation on one of the most complex issues ever to confront humanity," UN Secretary General Ban Ki-moon <a href="http://newsroom.unfccc.int/unfccc-newsroom/finale-cop21/">said after the accord signing</a> in December 2015. "For the first time, every country in the world has pledged to curb emissions, strengthen resilience and join in common cause to take common climate action. This is a resounding success for multilateralism."</p><p>Trump's reported exit could lead to a tailspin of other countries exiting the Paris agreement.</p><h3>More from Rebecca Harrington:</h3><ul><li><a href="http://www.businessinsider.com/what-did-us-agree-to-paris-climate-deal-2017-5" rel="nofollow">Here's what the US actually agreed to in the Paris climate deal</a></li><li><a href="http://www.businessinsider.com/trump-decides-to-withdraw-from-paris-climate-deal-2017-5" rel="nofollow">Trump has reportedly decided to withdraw from the Paris climate deal</a></li><li><a href="http://www.businessinsider.com/how-to-fix-sleep-problems-pain-insomnia-back-pillow-snoring-neck-health-2017-5" rel="nofollow">How to fix all of your sleep problems with science</a></li><li><a href="http://www.businessinsider.com/trump-first-foreign-trip-obama-bush-clinton-2017-5" rel="nofollow">Trump just wrapped up his first trip abroad - here's where past presidents traveled in their first year</a></li><li><a href="http://www.businessinsider.com/trump-orb-shoes-sword-dancing-toby-keith-saudi-arabia-foreign-trip-2017-5" rel="nofollow">Shoe envy, a Toby Keith concert, and sword dancing - 7 bizarre moments from Trump's first foreign trip</a></li></ul>            <h3>NOW WATCH: <a href="http://www.businessinsider.com/alien-megastructure-tabbys-star-kic-8462852-dimming-again-2017-5">The 'alien megastructure' star is acting weird, again, and it's exactly what astronomers have been waiting for</a></h3>                                    Please enable Javascript to watch this video

<p></p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>The climate talks in Paris this week and next are a big deal.<p>The tide on climate discussions seems to be turning, and these talks could actually result in a binding agreement across the world to cut carbon emissions, and potentially curb climate change.</p><p>Here's everything you need to know about the talks:</p><h2>What is it?</h2><p>The <a href="http://www.cop21.gouv.fr/en/">United Nations Climate Change Conference</a>- also known as the COP21, which stands for the 21st annual "Conference of Parties" to decide the UN's Framework on Climate Change.</p><p>It's also called the CMP11 for the 11th meeting of the Conference of the meeting of the Parties to the <a href="http://unfccc.int/kyoto_protocol/items/2830.php">1992 Kyoto Protocol</a>.</p><h2>When is it?</h2><p>The conference is being held from <a href="http://unfccc.int/files/meetings/paris_nov_2015/application/pdf/overview-schedule_cop21cmp11.pdf">November 30 to December 11</a>, with legally binding agreements hopefully taking effect on the last day.</p><h2>Who is participating?</h2><p>Leaders from 195 nations are attending, including the US, China, India, the EU, and Brazil. The <a href="http://asp-edu.net/pamun/pamun2013/wp-content/uploads/2015/05/COP21-Country-List-by-Groupings.pdf">full list of countries can be found here</a>.</p><p>About <a href="http://www.cop21paris.org/about/cop21">25,000 officials are expected to attend</a>, with a total of 50,000 participants. Here's a very awkward panorama of most of the leaders:</p><h2><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div>What are they doing?</h2><p>The goal is for countries to agree to a specific, legally binding plan to cut their carbon emissions, with the hope to <a href="http://www.cop21paris.org/about/cop21">keep global warming under 2 degrees Celsius</a>.</p><p>The countries that create 90% of the world's carbon emissions have carbon-cutting plans at the ready coming into the meeting. But, <a href="http://www.nytimes.com/interactive/projects/cp/climate/2015-paris-climate-talks/while-agreeing-on-urgency-leaders-differ-on-climate-fixes">according to the New York Times</a>, studies suggest that even with these cuts, the world could still warm by up to 6 degrees Celsius.</p><p>One of the big issues at play is what "legally binding" means, especially since it could be extremely difficult for the US Senate to agree to a formal treaty, since the Republican majority in Congress has a&#xa0;climate change denial streak.</p><p>Developed countries also have to figure out how they're going to carve out <a href="http://newsroom.unfccc.int/unfccc-newsroom/un-member-states-agree-sustainable-development-goals/">$100 billion per year by 2020</a> to help developing countries defend against the effects of climate change that have already been locked in.</p><p>Meeting these goals will require a lot of negotiation and closed-door talks.</p><h2>Why now?</h2><p>Climate experts warn any global temperature spike <a href="http://www.cop21.gouv.fr/en/why-2c/">above 2 degrees Celsius could bring devastating consequences</a>, from unavoidable sea level rise to unpredictable shifts in weather and drought. These impacts could devastate agriculture and send people living in low lying areas of the world running.</p><p>The planet's current emission rate has already brought us up 1 degree Celsius, and we still have no global strategy in place to combat climate change. Some <a href="http://www.nbcnews.com/science/environment/were-kidding-ourselves-2-degree-global-warming-limit-experts-n257006">scientists already think we've emitted too much carbon</a> to keep the world below the 2 degree goal, but the sooner we act, the better humanity will fare&#xa0;in the long run.</p><p>If that doesn't convince you, watch this galvanizing video from the UN:</p><p><div></div></p><h2>Hasn't the world tried to make similar agreements before?</h2><p>Yes.</p><p>The first was the Kyoto Protocol in 1992, which US Congress never ratified, essentially making the agreement moot.</p><p>A similar issue has happened at many talks over the years, including <a href="http://unfccc.int/meetings/copenhagen_dec_2009/meeting/6295.php">Copenhagen's in 2009</a> - the nations just couldn't agree on a legally binding plan.</p><h2>So why will the Paris talks be any different?</h2><p>Quite frankly, they have to be.</p><p>"There is such a thing as being too late," <a href="http://www.techinsider.io/obama-mlk-climate-change-speech-2015-11">President Obama said in his opening remarks at the talks</a>, quoting Martin Luther King Jr. "And when it comes to climate change that hour is almost upon us."</p><p>Public opinion in the US has finally swayed toward wanting to take action, too.</p><p>Two-thirds of Americans now support signing on to an agreement that would legally bind the US, the rest of the world, to cut carbon emissions, according to a <a href="http://www.nytimes.com/2015/12/01/world/americas/us-climate-change-republicans-democrats.html">New York Times/CBS News poll released Nov. 30</a>.</p><h2>Where can I watch it?</h2><p>There's a <a href="http://unfccc6.meta-fusion.com/cop21/">livestream on the UN site here</a>, which you can play back on demand.</p><p><a href="https://climatetalkslive.org/">Climate Talks Live</a> is also keeping track of what's trending by the hour. And Twitter has multiple hashtags for the event, with <a href="https://twitter.com/hashtag/COP21?src=tren">#cop21</a> being the most popular, but very active and frequently in languages other than English.</p><p><div></div></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/united-states-looks-like-earths-ice-melted-climate-change-global-warming-glacier-2015-11">Animated map shows what the US would look like if all the Earth's ice melted</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="Z4dGwzdDrnZunZUB10-CqEUToYnAvsHw" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

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