Adopted by the 195 Parties of the United Nations Framework Convention on Climate Change, the Paris Agreement sets a target to keep the global average temperature rise to less than 2 degrees Celsius above pre-industrial levels, and preferably below 1.5 degrees. On the basis of common but differentiated responsibilities and respective capabilities, developed countries agreed to raise 100 billion U.S. dollars a year by 2020 to help developing countries transform their economies, according to the agreement.