With the European Union (EU) ratifying the Paris Agreement, the dual thresholds (55 countries and 55% of global emissions) for the Paris Agreement entering into force have been crossed. The country threshold was crossed a few weeks ago, building optimism for the second threshold being crossed before COP22 in Morocco in November this year.
This optimism turned to excitement when India ratified the agreement on 2 October. All that was needed then, was the EU, who had already committed to an accelerated process. On 5 October, Espinosa Cantellano, Christiana Figueres’ successor as executive secretary of the United Nations Framework Convention on Climate Change (UNFCCC), tweeted that 72 parties, accounting for 56,75% of GHG emissions, have ratified the Paris Agreement.
Following the rules, entry into force is scheduled for 30 days after the thresholds are crossed, which would be 4 November, but the first meeting of the Parties to the Paris Agreement (known as CMA1) could take place right after or around the opening of COP22 (7 November).
This makes the Paris Agreement one of the fastest multilateral agreements to ever enter into force.
Source: National Business Initiative