Applicable to all Parties Sample Clauses

Applicable to all Parties. The speed and near universality of the Paris Agreement ratifications demon­ strates broad political support for its essential characteristics: it sets ambitious collective goals, allows each Party to determine its own targets and timetables and demands transparency and accountability from its Parties. It is the first international climate agreement that is “applicable to all” Parties. It provides flexibility for developing countries on the basis of differences in national capacity rather than the defined categories set under the UNFCCC and perpetuated under the Kyoto Protocol. From 2020 onwards, the Paris Agreement will in effect replace the twin track approach of the Kyoto Protocol and voluntary pledges. It is a landmark agreement that will continue to have effect for decades to come. In princi­ ple, all Parties are now being dealt with in the same manner as regards their obligations on emissions reductions, but these reductions are defined through plans (“Nationally Determined Contributions” or “NDCs”) that each Party draws up for itself. The flexibility provided through this “bottom-up” ele­ ment is an expression of the UNFCCC core principle of “common but dif­ ferentiated responsibilities and respective capabilities,” taking account of each Party’s national circumstances and capacities. While for Europeans the Paris Agreement is a firm expression of the mul­ tilateral approach they strongly prefer, a significant concession is made in accepting the major bottom-up element of Parties determining their own contributions and level of ambition. However, the Paris Agreement will allow for strong peer pressure on Parties through increased transparency and regular reviews. The Paris “rulebook,” adopted in 2018 at COP24 in Katowice, Poland, set out detailed guidance on how the Agreement’s transparency and account­ ability framework and ambition cycle will operate. The outcome respected the careful balance struck in Paris, but by providing greater clarity and detail will enhance the “top-down” nature of the regime.

Applicable to all Parties. The obligations of the parties to consummate the transactions contemplated by this Agreement are subject to the condition that no federal, state or local governmental body or agency or federal or state court of competent jurisdiction shall have enacted, issued, promulgated, enforced or entered any statute, rule, regulation, executive order, decree, judgment, injunction or other order or notice (whether temporary, preliminary or permanent), in any case which is in effect and which prevents or prohibits consummation of the transactions contemplated by this Agreement.