The United Nations Climate Change Conferences are annual conferences held in the framework of the United Nations Framework Convention on Climate Change (UNFCCC). The Conference of the Parties (COP) serves as the formal meeting of UNFCCC parties to assess global progress in dealing with climate change. The Conference of the Parties Edition 26 (COP26) took place in Glasgow, Scotland, with more than 120 countries attending.
Major Outcomes of COP26
U.S. - China Agreement
The top two emitters of greenhouse gasses, U.S. and China, reaffirmed their commitment to the 2015 Paris Agreement, i.e., to maintain the global average temperature increase to well below 2°C and to pursue efforts to limit it to 1.5°C. They pledged to work together towards a global net-zero economy. [1]
The Glasgow Climate Pact
The 2015 Paris Agreement established the global goal of enhancing adaptive capacity, strengthening resilience, and reducing vulnerability to climate change in the context of the Agreement’s temperature goal of limiting warming to 1.5°C or 2°C.
The Glasgow Climate Pact is an agreement to take forward the agenda set by the Paris Agreement, with emphasis on finance for climate adaptation [2], transparency in climate actions [3], and market mechanisms and non-market approaches for reducing carbon emissions [4].
Investing Capital in Climate Initiatives
Governments agreed to invest in developing nations that have suffered extensively due to climate changes. Several countries, such as Japan and Italy, pledged 2 billion dollars every year for the next five years and an extra 1.4 billion dollars every year, respectively.
More than 450 banks and other firms pledged to cut global emissions to net-zero by 2050 using the 130 trillion dollars collected.
Deforestation
Deforestation remains one of the biggest threats to climate change. More than 130 countries pledged to stop deforestation and land degradation by 2030.
Methane Emissions
The United States announced the U.S. Methane Emissions Reduction Action Plan which aims to reduce 75% of total methane emissions. These reductions would total 41 million tons of methane between 2023 and 2035.
With the current plan in place, the U.S. in partnership with the European Union, lead a Global Methane Pledge consisting of signatories that represent 60% of global GDP to reduce the overall methane emissions by 30% below the 2020 levels before 2030. [5]
China at COP26
China, one of the world’s largest emitters of greenhouse gasses, released its Nationally Determined Contribution (NDC) which consists of objectives and long-term strategies to address climate change. Most of the goals mentioned were largely reiterated from 2015’s NDC.
China is one of the largest consumers of coal. In 2020, it released 7.4 billion metric tonnes of carbon dioxide emissions. Despite being aware of the fact that coal emissions are one of the largest contributions to climate change, China built new coal factories every week in October of 2020. [6]
China also signed the Deforestation Pledge which it had originally refused to sign in 2015.
With respect to climate finance, one of the cornerstones of the Conference, China chided developed nations’ inability to fund developing nations to combat climate change.
India at COP26
India is recognized as an important ally in the fight against climate change. Preceding the Conference, there was a lot of hope for India’s long-term strategies and involvement in addressing climate change.
Prime Minister Modi pledged to cut emissions to net-zero by 2070 and derive 50% of energy from renewable sources of energy and reduce carbon emissions by one billion tonnes by 2030.
India’s NDC consists of three main goals — to reduce the emissions intensity of its economy, to increase the non-fossil-based component of electric power, and to expand the carbon sink from forest and tree cover.
In the Union Budget of 2022-2023, the Union Ministry of Environment, Forests and Climate Change (MOEFCC) saw a higher estimated expenditure of Rs 3,030 crore compared to Rs 2,520 crore in 2021-22.
Further plans exist to discuss The Energy Conservation (Amendment) Bill, 2022, which aims to “provide a regulatory framework for carbon trading in India, encouraging penetration of renewables in the energy mix, and for the effective implementation and enforcement of the Energy Conservation Act, 2001.” [7]
China and India’s Responsibility
When examining China’s and India’s role at COP26, one can find the existence of several common factors between the two countries.
Both countries are the world’s leading polluters in terms of carbon dioxide, methane, and several other gasses. The two heavily depend on coal as an energy resource; almost 50% of energy is derived from coal.
Thus, India and China have a responsibility in being at the forefront of addressing climate change. Both nations claim to want to reduce methane emissions but did not sign the Global Methane Plan. Their strategies are also not drastic enough in their efforts to keep the global temperature to well below 2°C.
These nations must come up with better, well defined strategies to tackle climate change before it is too late.
Future Conferences of the Parties
In upcoming conferences, it is critical that goals pertaining to the following are discussed.
Increasing Renewable Sources of Energy
It is crucial to increase renewable sources of energy as well as deploy them. Phasing out of fossil fuels is a very challenging process since we essentially have to stop using fossil fuel as an entire population; and in the same way, deploying efficient means of renewable sources of energy is also cumbersome.
2.Rewriting of Frameworks
Target setting is an important feature. Global frameworks such as the Paris Agreement must contain schemes that align with a nation’s climate policy. Goals must be more catered and specific to countries.
3.Helping Oil-Dependent Economies
Oil is an essential fuel and the world’s populace is heavily dependent on it as a source of transportation. According to the International Energy Agency, if we are on a trajectory to curb global emissions by 2050, no new gas and oil fields must be developed which seems to be an impossible feat as of today. But it is imperative that new alternate solutions and ideas be discussed to recentre the economies of oil-rich countries such as the middle eastern nations, so that we can eventually stop developing new gas and oil fields. [8]
Conclusion
The best way to describe the COP26 was ambitious but ambiguous. While COP26 was a success in terms of reaffirming the goals that exist in the Paris Agreement and by the inclusion of a few other goals, it failed to discuss new and immediate strategies to tackle climate change.
Yes, long-term strategies are important; but, in the current state of progression, we need them to be in an expeditious timeframe. The melting of glaciers and ice caps, destruction of coral reefs, and an increase in global temperature isn’t going to wait for countries to boost their economy and start getting along with each other.
Climate change is happening right now! It is the biggest threat to humankind and we need to do whatever we can to turn it around now before it is too late. Tackling climate change and curbing it is the need of the hour.
Article by:
Naimisha Venkatesh
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