The Paris Agreement on Climate change or Accord de Paris, sets out a global action plan to combat the dangerous effects of climate change. The agreement wants to limit the global warming below 2 degrees Celsius. Temperature rise of 2 degrees and above could cause a massive damage to the food production, clean water sources and energy production.
In the agreement, each country determines the contribution that it should make in order to mitigate global warming. Countries across the world, such as China, the United Kingdom, Egypt, France and Germany, pledged to make changes to their policies in accordance with the best available science, in the hopes of reducing their overall emissions to a long - term goal of zero - net emissions overall - i. e. carbon neutrality.
The agreement set out a Climate Tax, which means, the world's worst polluters would be financially accountable for their chemical contribution to climate change. The worse the polluter, the higher the cost - the typical rate set at $150 per tonne of CO2.