A new global agreement — the Glasgow Climate Pact — was reached at the COP26 summit.

A new global agreement — the Glasgow Climate Pact — was reached at the COP26 summit.

The latest   post by  BBC News states,

  • It aims to reduce the worst impacts of climate change — but some leaders and campaigners say it does not go far enough.
  • The  COP26 agreement — although not legally bindingwill set the global agenda on climate change for the next decade:

Emissions

  • It was agreed countries will meet next year to pledge further cuts to emissions of carbon dioxide (CO2) — a greenhouse gas which causes climate change.
  • This is to try to keep temperature rises within 1.5C — which scientists say is required to prevent a «climate catastrophe»  and limit global warming to about 2.4C.

Coal

  • For the first time at a COP conference, there was an explicit plan to reduce use of coal — which is responsible for 40% of annual CO2 emissions.
  • However, countries only agreed a weaker commitment to «phase down» rather than «phase out» coal after a late intervention by China and India.

Developing countries

  • The agreement pledged to significantly increase money to help poor countries cope with the effects of climate change and make the switch to clean energy.
  • There’s also the prospect of a trillion dollar a year fund from 2025 — after a previous pledge for richer countries to provide $100bn (£72bn) a year by 2020 was missed.

Fossil fuel subsidies

  • World leaders agreed to phase-out subsidies that artificially lower the price of coal, oil, or natural gas.
  • However, no firm dates have been set.

Other  COP26 announcements :

US-China agreement

Trees

Methane
  • The big emitters China, Russia and India haven’t joined — but it’s hoped they will later.

Funding

How will countries be made to meet their pledges?

  • Most commitments made at COP will have to be self-policed.
  • Only a few countries are making their pledges legally binding.

Next year’s COP27 summit is in Egypt.

Source : BBC News, 15/11/2021

Last Updated on 15.11.2021 by iskova