In the end, all parties recognized the need to «prevent, minimize and address losses and damages,» but in particular any mention of compensation or liability is excluded.  The Convention also takes up the Warsaw International Loss and Damage Mechanism, an institution that will attempt to answer questions about how to classify, address and co-responsible losses.  The EU and its Member States are among the nearly 190 parties to the Paris Agreement. The EU formally ratified the agreement on 5 October 2016, allowing it to enter into force on 4 November 2016. In order for the agreement to enter into force, at least 55 countries representing at least 55% of global emissions had to file their ratification instruments. The NDC partnership was launched at COP22 in Marrakech to improve cooperation so that countries have access to the technical knowledge and financial support they need to achieve major climate and sustainable development goals. The NDC partnership is led by a steering committee made up of industrialized and developing countries and international institutions and is supported by a support unit organized by the World Resources Institute and based in Washington, D.C. and Bonn, Germany. The NDC partnership is co-chaired by the governments of Costa Rica and the Netherlands and has 93 Member States, 21 institutional partners and 10 associate members. The Paris Agreement, adopted by all parties to the UNFCCC in December 2015, is the first universal and legally binding global climate agreement.
It maintains the commitment of developed countries to continue to be at the forefront of financial aid, but for the first time, «other parties» are being asked to provide voluntary financial support. This urges developed countries to develop a specific roadmap to meet the annual target of $100 billion in climate finance by 2020. Specific results of increased attention to adjustment financing in Paris include the announcement by the G7 countries of $420 million for climate risk insurance and the launch of a Climate Risk and Early Warning Systems (CREWS) initiative.  In 2016, the Obama administration awarded a $500 million grant to the «Green Climate Fund» as «the first part of a $3 billion commitment made at the Paris climate talks.»    To date, the Green Climate Fund has received more than $10 billion in commitments. The commitments come mainly from developed countries such as France, the United States and Japan, but also from developing countries such as Mexico, Indonesia and Vietnam.  The agreement stipulated that it would only enter into force (and therefore fully effective) if 55 countries that produce at least 55% of global greenhouse gas emissions (according to a list drawn up in 2015) have ratified, approved or ratified the agreement.   On April 1, 2016, the United States and China, which together account for nearly 40% of global emissions, issued a joint statement confirming that the two countries would sign the Paris climate agreement.  175 contracting parties (174 states and the European Union) signed the agreement on the first day of its signing.   On the same day, more than 20 countries announced plans to join the accession as soon as possible in 2016.