To date, 148 countries have ratified the agreement and although there are no legally binding targets, countries have agreed on a monitoring and reporting process that is binding and a 5-year reassessment of the collective progress10. Yet, research shows that more effort and commitment is required 11.
There is a significant acceleration of climate action, however, current targets may not be enough to keep the temperature rise below the 2°C limit and the world needs timely revision of national contributions 1/4  BIS central bankers' speeches  within a global framework of deep decarbonisation of national energy systems.