aspg-42-4332-1792226096 20261017083456 American Scientific Publishing Group admin@americaspg.com American Scientific Publishing Group Journal of International Economics Research JIER 3070-5665 2026 4 2 Freshta Qauomy TSUE Lecturer of the tourism department, Tashkent State University of Economics, Tashkent city, I. Karimov Street 49, Postcode: 100003 Tashkent, Republic of Uzbekistan Salimova Sevara TSUE Lecturer of the tourism department, Tashkent State University of Economics, Tashkent city, I. Karimov Street 49, Postcode: 100003 Tashkent, Republic of Uzbekistan The Paris Agreement (2015) marked a significant change in international climate regulation, as it does not have binding targets and instead contains a flexible, bottom-up system of nationally determined contributions (NDCs). Although this construction ensured almost universal participation, its use of voluntary commitments and lax implementation schemes has constrained its capacity to achieve the profound, fair cuts in emissions to curb warming to 1.5C. This study critically analyzes the effectiveness of the Agreement, its institutional structure, the dynamics of ambition, transparency framework, Article 6 market mechanism and finance. Basing his analysis on the prominent scholarly works, global climatic evaluation, and documentation undertaken by the UN, the analysis recognizes political self-interest, economic inequalities, unresolved differentiation, and finance gaps as key obstacles to real international collaboration. These structural vices are more impactful in developing countries. By examining Uzbekistan, a climate-vulnerable, and lower-middle-income Central Asian nation engaged in Article 6, this paper shows how the global challenges are being reflected at national levels, such as conditional NDCs, MRV capacity limitations, and reliance on outside assistance. The results highlight that in the absence of enhanced accountability, scaled and predictable climate finance, operationalized equity under CBDRRC, and hybrid governance, the Paris framework may stay aspirational, as opposed to transformative. The policy recommendations aim to achieve convergence in Article 6, improve domestic surveillance, and apply the principles of just transition to bridge the ambition and equity gap. 2026 18 25 4332 https://creativecommons.org/licenses/by/4.0/ 10.54216/JIER.040203 https://americaspg.com/journal/42/article/4332 https://americaspg.com/storage/articles/manuscripts/01M35HK4QDY0JA3BC3PWWRSSM3.pdf