10 Years of the Paris Agreement: Progress Made, But Far Too Slow

Ten years on, the Paris Agreement remains the backbone of global climate cooperation. It has lowered projected warming by nearly 1°C and reshaped policy, finance, and technology. Yet current commitments and implementation still fall short. The 1.5°C goal is slipping out of reach unless action accelerates dramatically this decade. 

Source: UNEP

Why This Matters? 

• At the current pace, the 1.5°C carbon budget will be exhausted before 2030. 

• Even if every current pledge is met, the world still overshoot 1.5°C by 20 GtCO₂e per year by 2030. 

• Investors face growing volatility as fossil fuel exposure becomes a stranded asset risk. 

• Every 0.1°C avoided reduces physical damage, financial loss, and reliance on costly carbon removal. 

  
  

How Has the Paris Agreement Changed Climate Action? 

Since 2015, the Paris Agreement has united nearly all countries under common goals: keep warming below 2°C and aim for 1.5°C. It set 2050 net-zero as the global benchmark and shifted investment toward clean energy. 

Today, over $2 trillion per year now flows into renewables—more than double what goes into fossil fuels. Projected warming fell from 3.6°C before Paris to about 2.8°C under current policies. However, real progress is limited. 

Source: Li-An Lim/Unsplash 

Where Do We Stand Now? 

Global emissions rose 2.3% in 2024 to reach 57.7 GtCO₂e. More than half came from deforestation and land-use change, while fossil fuels still make up about 70% of total emissions.  

Only one-third of countries have submitted new climate plans, and just 13 have updated their 2030 targets. None includes a full phase-out of oil or gas production. The gap between rising supply and weak demand keeps energy markets volatile and off track from Paris goals. 

Even if all current pledges were fully implemented, global emissions in 2030 would still exceed the 1.5°C pathway by around 20 GtCO₂e per year, accounting for nearly half of today’s total emissions. 

This underscores how far ambition and action still lag behind what science requires. 

Action Items: 

To bring temperatures back below 1.5°C by 2100, global emissions must drop nearly half (46%) by 2035 compared to 2019 levels. Achieving this will require an unprecedented scale-up of renewables, electrification, and efficiency, coupled with an immediate halt to new fossil fuel expansion. 

• Investors: Integrate 1.5°C-aligned transition risks and opportunities into portfolio planning. 

• Businesses: Phase out fossil-intensive operations and scale low-carbon supply chains. 

• Governments: Enforce 2030 targets, expand clean energy finance, and coordinate carbon markets. 

• Multilateral actors: Reform financial institutions to deliver climate finance equitably and on time. 

  
  

Source 

UNEP Emissions Gap Report 2025 

What has the Paris Agreement done for us?