Recognizing that many developing countries and small island developing states that have contributed the least to climate change are most likely to suffer the consequences, the Paris Agreement contains a plan for developed countries – and others that are able to do so – to continue to provide financial resources to help developing countries reduce and increase their capacity to withstand climate change. The agreement builds on the financial commitments of the 2009 Copenhagen Accord, which aimed to increase public and private climate finance to developing countries to $100 billion per year by 2020. (To put it in perspective, in 2017 alone, global military spending amounted to about $1.7 trillion, more than a third of which came from the United States. The Copenhagen Pact also created the Green Climate Fund to mobilize transformation funding with targeted public dollars. The Paris agreement expected the world to set a higher annual target by 2025 to build on the $100 billion target by 2020 and create mechanisms to achieve this. In the run-up to the Paris meeting, the United Nations has instructed countries to present plans detailing how they intend to reduce greenhouse gas emissions. These plans have been technically referred to as planned national contributions (INDC). As of December 10, 2015, 185 countries had introduced measures to limit or reduce their greenhouse gas emissions by 2025 or 2030. In 2014, the United States announced its intention to reduce its emissions by 26-28% from 2005 levels by 2025.
To achieve this goal, the country`s Clean Power Plan should set limits for existing and projected emissions from power plants. China, the country that emits the most greenhouse gases as a whole, has set a goal of reaching its carbon dioxide emissions “around 2030 and making the best efforts to reach an early peak.” The Chinese authorities have also sought to reduce carbon dioxide emissions per unit of gross domestic product (GDP) by 60-65% compared to 2005. Negotiators of the agreement stated that the INDCs presented at the time of the Paris conference were insufficient and found that “the estimates of aggregate greenhouse gas emissions in 2025 and 2030 resulting from the planned contributions at the national level are not covered by the least expensive scenarios of 2oC, but lead to a projected level of 55 gigatons in 2030.” and acknowledges that “much greater efforts to reduce emissions will be needed to keep the global average temperature rise to less than 2 degrees Celsius, by reducing emissions to 40 gigatonnes or 1.5 degrees Celsius.”  In 1992, President George H.W. Bush joined 107 other heads of state at the Rio Earth Summit in Brazil to adopt a series of environmental agreements in Brazil. , including the UNFCCC framework, which is still in force today.