The Paris Agreement and the Gradual Development of a Law on Climate Finance

The article discusses the changes to the field of climate finance law contained in the Paris Outcome, consisting of the Paris Agreement treaty text and the cop Decision adopting the treaty. The changes are mainly of a procedural kind and relate to reporting and review of climate finance supplied or received, and to mechanisms that raise climate finance. The substantive part (i.e. the obligations on the amount to be supplied, which rest with developed countries only) is left largely unchanged by the Paris Outcome, although for the first time in a climate treaty, state obligations relating to climate finance are linked to avoidance of the 2°C warming threshold.