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Climate Summit COP26.. 8 points summarizing 14 days of negotiations and pledges

  • 18 November, 2021
  • 5:46 pm EET

After two weeks of difficult negotiations and pledges and promises from governments, international companies and bodies, the COP26 climate summit came out, with a draft of the “Glasgow Climate Charter”, which was signed by 197 countries, from large economies such as China to island nations that count climate change and a warming planet. The earth is the main reason for its disappearance, if the world does not limit its emissions.

The Glasgow document aims to keep the hope of maintaining the planet’s temperature at 1.5 degrees Celsius above pre-industrial levels by the end of the century, which is what the Paris Agreement aspires to.

In the following report, we monitor the most prominent conclusions of the COP26 climate summit:

 

Develop tougher climate plans for 2030

One of the critical elements in Glasgow was the demand for countries to reconsider and strengthen their 2030 climate plans by inviting countries to submit new plans.

The new agreement has given new life to hopes that the world will be on track to achieve the 1.5°C target, however, there is no guarantee that countries will put forward stricter climate plans by the end of the year.

 

Modifying the fossil fuel signal at the last minute

The pre-amendment text called for a relentless acceleration of the “phasing out” of coal-fired electric power and inefficient fossil-fuel subsidies, relentlessly meaning unfettered coal power using CO2 capture and capture technologies.

After last-minute negotiations for this text, India called for the text to be amended in the statement of the COP26 Climate Summit Outcome Document, so that the phrase “phasing out” replaced the phrase “phasing out”.

 

Climate Finance

The agreed text commits developed countries to double the collective share of adaptation financing within the annual target of $100 billion for 2021-2025, and to reach the $100 billion target as soon as possible.

The parties are also committed to the process of agreeing to long-term climate finance beyond 2025, which was a specific requirement for countries with developing economies.

The COP26 Climate Summit also decided to establish a dialogue between Parties, stakeholders and relevant organizations to support efforts to avoid, reduce and address losses and damages associated with climate change.

The final agreement from Glasgow expressed “deep regret” for not delivering on the long-awaited promise by rich countries to provide $100 billion in financing to poor countries grappling with climate impacts by 2020.

This comes after a recent United Nations report indicated that the cost of climate impacts in developing countries would have ranged between 5 and 10 times the amount of financial assistance offered by rich countries before the conference.

Although some progress has been made in financing, developing countries have left Glasgow largely unhappy with the issue.

He called on many developing countries to establish a financial assistance program to help them deal with the “loss and damage” caused by the climate crisis, such as the loss of human life during extreme weather events.

However, the idea met with strong opposition from the United States and the European Union, and did not appear in the Glasgow Climate Change Summit Charter.

 

A call to reduce methane by 2030

The text calls on countries to think about how to reduce emissions of methane, a short-lived but highly harmful greenhouse gas from animal agriculture and fossil fuel production.

This comes after nearly 100 countries signed a global pledge to reduce methane emissions by 30% by 2030, compared to 2020 levels.

China also agreed to cut methane emissions in a separate agreement with the United States.

 

Nature-based climate solutions

“Nature-based solutions”, tools to tackle the climate crisis by harnessing natural habitats, were drafted to play a major role in COP26 texts, but ended up being dispensed with in the final agreement.

While the first draft of COP26 climate summit stresses the “critical importance of nature-based solutions”, the final agreement instead refers to the “importance of protecting, preserving and restoring nature and ecosystems”.

 

Finalizing the Paris Rule Book

COP26 also completed technical negotiations on the so-called Paris Agreement rule book, which sets out transparency and reporting requirements for all parties to track progress towards their emissions reduction goals, meaning that all countries will now have to report on emissions and progress every two years.

The rulebook also includes the Article VI mechanisms, which define the work of international carbon markets to support greater global cooperation on emissions reductions.

 

Concern about the current pace of global warming

The text expresses “the concern, and grave concern” that humans have already caused global temperatures to increase by 1.1°C since the beginning of the industrial age, with effects in “every region” of the world.

The language reflects the conclusions of a landmark climate report recently released by the Intergovernmental Panel on Climate Change (IPCC), which was formally “welcomed” in the Glasgow Climate Charter.

 

Youth participation success

A number of young people around the world and youth groups have succeeded in actively participating in the work of the Glasgow Climate Change Summit, which had a significant impact on achieving the principle of inclusiveness in climate action.

A number of international observers described the outcomes of Glasgow as soft promises that are not commensurate with the climate emergency, as the island states believe that the difference between 1.5 and 2 percentage points represents a death sentence on these islands.

 

SOURCE: COP26 NEWS

 

 

 

 

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