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 binding — will 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 :
- The world’s biggest CO2 emitters, the US and China, pledged to cooperate more over the next decade in areas including methane emissions and the switch to clean energy.
Trees
- Leaders from more than 100 countries — with about 85% of the world’s forests — promised to stop deforestation by 2030.
- A scheme to cut 30% of methane emissions by 2030 was agreed by more than 100 countries.
- The big emitters China, Russia and India haven’t joined — but it’s hoped they will later.
Funding
- Financial organisations controlling $130tn agreed to back «clean» technology, such as renewable energy, and direct finance away from fossil fuel-burning industries.
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