The Paris Agreement is the first legally binding universal global agreement on climate change adopted at the Paris Climate Change Conference (COP21) in December 2015. Seven other states signed the Paris Agreement but did not ratify it. Since the Kyoto Protocol came into force, the Clean Development Mechanism has been criticized because, in most cases, it has not brought significant emission reductions or benefits for sustainable development.  It has also suffered from low prices from Certified Emission Reductions (REFs), which has reduced project demand. These criticisms have motivated the recommendations of various interest groups who, through working groups and reports, have provided new elements that they hope to see in the MDS that will support their success.  Details of the governance structure, the terms of the project proposal and the comprehensive approach should be detailed at the conference of the parties to be held in Marrakech in 2016. [must update] The Paris Agreement was launched at the signing on April 22, 2016 (Earth Day) at a ceremony in New York.  After the agreement was ratified by several EU member states in October 2016, there were enough countries that had ratified the agreement to produce enough greenhouse gases in the world for the agreement to enter into force.  The agreement came into force on November 4, 2016.  It will also enable the parties to gradually strengthen their contributions to the fight against climate change in order to achieve the long-term objectives of the agreement. While the enhanced transparency framework is universal and the global inventory is carried out every five years, the framework must provide “integrated flexibility” to distinguish the capabilities of developed and developing countries.
In this context, the Paris Agreement contains provisions to improve the capacity-building framework.  The agreement recognizes the different circumstances of some countries and notes, in particular, that the technical review of experts for each country takes into account the specific capacity of that country to report.  The agreement also develops a capacity-building initiative for transparency to help developing countries put in place the necessary institutions and procedures to comply with the transparency framework.  An updated list of countries that have signed since 22 April is on the official list. The level of the NDC set by each country will determine the objectives of that country. However, the “contributions” themselves are not binding under international law because of the lack of specificity, normative nature or language necessary to establish binding standards.  In addition, there will be no mechanism to compel a country to set a target in its NDC on a specified date and not for an application if a defined target is not achieved in an NDC.   There will be only a “Name and Shame” system  or as UN Deputy Secretary General for Climate Change, J. Pésztor, CBS News (US), a “Name and Encouragement” plan.
 Since the agreement has no consequences if countries do not live up to their commitments, such a consensus is fragile. A cattle of nations withdrawing from the agreement could trigger the withdrawal of other governments and lead to the total collapse of the agreement.  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.    As of November 2020[update], the United States, Iran and Turkey are the only countries with more than 1% not to be contracting parties. Implementation of the agreement by all Member States will be evaluated every five years, with the first evaluation in 2023.