<P> At the Paris Conference in 2015 where the Agreement was negotiated, the developed countries reaffirmed the commitment to mobilize $100 billion a year in climate finance by 2020, and agreed to continue mobilizing finance at the level of $100 billion a year until 2025 . The commitment refers to the pre-existing plan to provide US $100 billion a year in aid to developing countries for actions on climate change adaptation and mitigation . </P> <P> Though both mitigation and adaptation require increased climate financing, adaptation has typically received lower levels of support and has mobilised less action from the private sector . A 2014 report by the OECD found that just 16 percent of global finance was directed toward climate adaptation in 2014 . The Paris Agreement called for a balance of climate finance between adaptation and mitigation, and specifically underscoring the need to increase adaptation support for parties most vulnerable to the effects of climate change, including Least Developed Countries and Small Island Developing States . The agreement also reminds parties of the importance of public grants, because adaptation measures receive less investment from the public sector . John Kerry, as Secretary of State, announced that the U.S. would double its grant - based adaptation finance by 2020 . </P> <P> Some specific outcomes of the elevated attention to adaptation financing in Paris include the G7 countries' announcement to provide US $420 million for Climate Risk Insurance, and the launching of a Climate Risk and Early Warning Systems (CREWS) Initiative . In early March 2016, the Obama administration gave a $500 million grant to the "Green Climate Fund" as "the first chunk of a $3 billion commitment made at the Paris climate talks ." So far, the Green Climate Fund has now received over $10 billion in pledges . Notably, the pledges come from developed nations like France, the US, and Japan, but also from developing countries such as Mexico, Indonesia, and Vietnam . </P> <P> A new issue that emerged as a focal point in the Paris negotiations rose from the fact that many of the worst effects of climate change will be too severe or come too quickly to be avoided by adaptation measures . The Paris Agreement specifically acknowledges the need to address loss and damage of this kind, and aims to find appropriate responses . It specifies that loss and damage can take various forms--both as immediate impacts from extreme weather events, and slow onset impacts, such as the loss of land to sea - level rise for low - lying islands . </P>

When was this determined what was this agreement called