Paris outcomes: Carbon Market Watch Analysis of COP 21

The document evaluates the Paris Agreement as a positive step that increased global ambition to limit warming to 1.5ºC, though it notes that current Intended Nationally Determined Contributions (INDCs) remain inadequate. It details the creation of three frameworks under Article 6 for carbon markets and non-market approaches, while warning against the use of temporary land-use carbon sequestration to justify continued fossil pollution. The analysis highlights gaps in climate finance, the lack of explicit mandates for international aviation and shipping, and the historic inclusion of human rights in the preamble.

• The Paris Agreement establishes a goal to limit temperature increases to 1.5ºC above pre-industrial levels, but current collective efforts in mitigation and finance are insufficient to meet this target.
• The agreement introduces a 'ratcheting' mechanism with five-year cycles for Parties to communicate and increase the ambition of their nationally determined contributions.
• Article 6 creates three distinct frameworks: one for linking emissions trading systems, a new mechanism for greenhouse gas mitigation and sustainable development (likely replacing the CDM and JI), and a framework for non-market approaches.
• There is a risk that carbon sequestration in land use could be used to justify ongoing fossil fuel pollution, as biological carbon stocks are temporary compared to fossil carbon.
• Climate finance provisions are deemed inadequate for developing countries' needs, with developed countries continuing to lead mobilization but without legally binding financial commitments or a clear roadmap for scaling beyond the USD 100 billion annual goal.
• For the first time, the preamble of a climate agreement explicitly recognizes human rights obligations, including those of indigenous peoples, local communities, and the right to health.
• International aviation and shipping are not explicitly mentioned in the agreement, and current industry targets, such as ICAO's 'carbon neutral growth', are viewed as incompatible with the 2ºC or 1.5ºC limits.

APA

Carbon Market Watch (n.d.). Paris outcomes: Carbon Market Watch Analysis of COP 21. https://carbonmarketwatch.org/wp-content/uploads/2015/12/Paris-outcomes-analysis_FINAL_clean.pdf

Chicago

Carbon Market Watch. Paris outcomes: Carbon Market Watch Analysis of COP 21. n.d. https://carbonmarketwatch.org/wp-content/uploads/2015/12/Paris-outcomes-analysis_FINAL_clean.pdf.

Wikipedia

{{cite report |author=Carbon Market Watch |title=Paris outcomes: Carbon Market Watch Analysis of COP 21 |url=https://carbonmarketwatch.org/wp-content/uploads/2015/12/Paris-outcomes-analysis_FINAL_clean.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{carbonmarketwatchndparis, author = {{Carbon Market Watch}}, title = {{Paris outcomes: Carbon Market Watch Analysis of COP 21}}, institution = {Carbon Market Watch}, url = {https://carbonmarketwatch.org/wp-content/uploads/2015/12/Paris-outcomes-analysis_FINAL_clean.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }