By analysis by the Intergovernmental Panel on Climate Change (IPCC), a carbon "budget" based on total emissions of carbon dioxide into the atmosphere (relative to the annual emission rate) has been estimated to limit global warming to 1.5 degrees Celsius and 2.25 trillion tonnes from the 1870 period. This represents a significant increase from the initial estimates of the Paris climate agreement (out of a total of 2000 billion tonnes) to reach the global warming target of 1.5oC, a target that would be reached in 2020 for 2017 emission rates. [Clarification needed] In addition, annual CO2 emissions are estimated at 40 billion tonnes per year in 2017. The revised IPCC budget was based on the CMIP5 climate model. Estimate models using different reference years also provide other slightly adjusted estimates of a carbon "budget."  President Trump is pulling us out of the Paris Climate Agreement. Since November 2020, 194 states and the European Union have signed the agreement. 187 countries and the EU, which account for about 79% of global greenhouse gas emissions, have ratified the agreement or have joined the agreement, including China and India, the countries with the first and third largest CO2 emissions among UNFCCC members.    As of November 2020[update], the United States, Iran and Turkey are the only countries with more than 1% not to be contracting parties. France, in conjunction with the UN and the World Bank, hosted a climate summit on 12 December 2017, two years after the adoption of the Paris Agreement. In particular, the One Planet Summit will focus on boosting countries` climate finance efforts. Negotiators of the agreement stated that the INDCs presented at the time of the Paris conference were insufficient and found that "the estimates of aggregate greenhouse gas emissions in 2025 and 2030 resulting from the planned contributions at the national level are not covered by the least expensive scenarios of 2oC, but lead to a projected level of 55 gigatons in 2030." and acknowledges that "much greater efforts to reduce emissions will be needed to keep the global average temperature increase to less than 2 degrees Celsius, reducing emissions to 40 gigatonnes or 1.5 degrees Celsius."  [Need for clarification] The NDC partnership was launched at COP22 in Marrakech to improve cooperation so that countries have access to the technical knowledge and financial assistance they need to achieve large amounts of climate and sustainable development objectives.