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Klinsky S, Winkler H (2014) Actions, sustainable development and climate policy. Clim Policy 14:1-7 In 1992, President George H.W. Bush and 107 other heads of state concluded a series of environmental agreements at the Rio Earth Summit in Brazil, including the UNFCCC framework, which is still in force today. The international treaty aims to prevent dangerous human intervention in the planet`s climate systems in the long term. The pact does not set limits on greenhouse gas emissions from individual countries and does not contain enforcement mechanisms, but establishes a framework for international negotiations on future agreements or protocols to set binding emissions targets. Participating countries meet annually at a Conference of the Parties (COP) to assess their progress and continue discussions on how best to combat climate change. A new theme that has proved to be the centre of gravity of the Paris negotiations[55] was born out of the fact that many of the worst effects of climate change will be too severe or will come too quickly to be avoided by adaptation measures. The Paris Agreement explicitly recognizes the need to repair such losses and damages and seeks to find appropriate responses. [56] It is specified that losses and damage can take different forms, both as immediate effects of extreme weather events and as slow effects, such as land loss at sea level for deep islands. [33] President Trump is pulling us out of the Paris Climate Agreement. While mitigation and adjustment require more climate funding, adjustment has generally received less support and has mobilized fewer private sector actions. [46] A 2014 OECD report showed that in 2014, only 16% of the world`s financial resources were devoted to adaptation to climate change. [50] The Paris Agreement called for a balance between climate finance between adaptation and mitigation, highlighting in particular the need to strengthen support for adaptation from the parties most affected by climate change, including least developed countries and small island developing states.

The agreement also reminds the parties of the importance of public subsidies, as adjustment measures receive less public sector investment. [46] John Kerry, as Secretary of State, announced that the United States