Negotiators of the agreement stated that the INDCs presented at the time of the Paris conference were insufficient and found that „the estimates of aggregate greenhouse gas emissions in 2025 and 2030 resulting from the planned contributions at the national level are not covered by the least expensive scenarios of 2oC, but lead to a projected level of 55 gigatons in 2030.“ and acknowledges that „much greater efforts to reduce emissions will be needed to keep the global average temperature rise to less than 2 degrees Celsius, by reducing emissions to 40 gigatonnes or 1.5 degrees Celsius.“  World heads of state and government starting tomorrow – April 22 is Earth Day – at the United Nations in New York to sign the pioneering Paris climate change agreement. , countries will address the potentially difficult and controversial issue of pricing greenhouse gas emissions, particularly carbon dioxide (CO2). Our envelope calculation shows that most large emitters will have to calculate between $50 and $100 per tonne or more (in current prices) by 2030 to meet their commitments to reduce CO2 emissions. As part of the agreement, banks pledged to „contribute to measures that limit global temperature rise and reduce vulnerability to the effects of climate change.“ The Paris Agreement (the Paris Agreement)  is an agreement within the framework of the United Nations Framework Convention on Climate Change (UNFCCC) that deals with the reduction, adaptation and financing of greenhouse gas emissions and was signed in 2016. The language of the agreement was negotiated by representatives of 196 States Parties at the 21st UNFCCC Conference of parties held at Le Bourget, near Paris, France, and agreed on 12 December 2015.   Since February 2020, all 196 UNFCCC members have signed the agreement and 189 have left.  Of the seven countries that are not parties to the law, Iran and Turkey are the only major emitters. According to the United Nations Environment Programme (UNEP), temperatures are expected to rise by 3.2oC by the end of the 21st century, based solely on the current climate commitments of the Paris Agreement. To limit the increase in global temperature to 1.5 degrees Celsius, annual emissions must be below 25 Gigaton (Gt) by 2030. With the current commitments of November 2019, emissions by 2030 will be 56 Gt CO2e, twice the environmental target. To limit the increase in global temperature to 1.5 degrees Celsius, an annual reduction in emissions of 7.6% is needed between 2020 and 2030.