Key Agreements from COP26
After two weeks, with almost 40,000 delegates negotiating in Glasgow, Saturday saw the end of the crucial Glasgow climate summit – COP26. World Leaders made a series of climate pledges about ending and reversing deforestation, cutting methane emissions, more money to help developing countries to help them to adapt to climate impacts, and the journey to net zero. The Glasgow Climate Pact is the first ever climate deal to explicitly plan to reduce coal, the worst fossil fuel for greenhouse gases. But do these pledges go far enough to limit temperature rise to 1.5C? Experts say not.
We take a quick look at the key agreements that were made over the two weeks:
The Glasgow Pact
It was agreed to get countries to strengthen their emissions-cutting targets for 2030 by the end of next year to limit dangerous global warming with increased financial help for developing countries. This is the first time fossil fuels have been included in a UN climate agreement which aims to keep limiting global warming to 1.5c above pre-industrial levels within reach. Current pledges, if fulfilled, will only limit global warming to about 2.4C.
At the last minute, the Glasgow Pact was watered, following a push by India and China, from the “phase out” of unabated coal, to “phase down”. This prompted angry responses from European and vulnerable countries who feel these pledges do not go far enough to limit temperature rises. .
UN Secretary-General Antonio Guterres warned that our planet is “hanging by a thread… we are still knocking on the door of climate catastrophe… it is time to go into emergency mode – or our chance of reaching net zero will itself be zero.” He called for an end to fossil fuels subsidies, phasing out of coal, a price on carbon, building resilience of vulnerable communities against the impacts of climate change and to make good on the long-promised 100 billion US dollar climate finance commitment to support developing countries.
If global temperatures rise by more than 1.5C, scientists say that our earth is likely to experience severe effects, such as millions more people being exposed to extreme heat.
Coal and fossil fuels
More than 40 countries, including 23 new ones, pledged to phase out the use of coal – the most polluting fossil fuel. Major countries said they would phase it out in the 2030s, with poorer countries committing to the 2040s. However, Australia, the world’s second largest exporter of thermal coal which is used in coal-fired power stations, did not add its name to the pledge. At least 20 countries, together with public finance institutions, promised to stop public finance to overseas fossil fuels by the end of 2022, diverting cash into clean energy instead.
Green technologies
More than 40 world leaders agreed on a UK-led plan to speed up affordable and clean technology worldwide by 2030. The first five goals were dubbed the ‘Glasgow breakthroughs’ and cover more than 50% of global emissions:
- Power: Clean power becomes the most affordable and reliable option worldwide
- Road transport: Zero-emission vehicles become the new normal and are accessible, affordable and sustainable in all regions
- Steel: Near-zero emission steel is the preferred choice in global markets, with efficient use and near-zero emission steel production established and growing in all regions
- Hydrogen: The aim is for affordable renewable and low carbon hydrogen to be globally available
- Agriculture: Climate-resilient, sustainable agriculture becomes the most attractive and widely adopted option for farmers everywhere
Deforestation
More than 100 countries, which included Zambia, represent 85% of the world’s forests. They promised to halt and reverse forest loss and land degradation by the end of 2030. This is to be underpinned by $19bn in public and private funds to invest in protecting and restoring forests.
Forests absorb roughly 30% of carbon dioxide emissions, taking emissions out of the atmosphere and prevent them from warming the climate. But, this natural climate buffer is rapidly disappearing. The world lost 258,000 square kms of forest in 2020, according to WRI’s deforestation tracking initiative Global Forest Watch.
Farming
45 countries pledged urgent action on making farming more sustainable. Along with commitments on methane, the signatories promised to invest in green agricultural practices which protect nature.
Finance
The EU launched a programme to finance breakthrough climate innovation alongside Bill Gates and the European Investment Bank. Called the EU Catalyst Programme, it is worth one billion euros, and will finance new technologies, allowing them to be used on the ground in Europe.
The UK’s government announced that financial firms, controlling about 40% of global assets – $130trn (£95trn), have signed up to 2050 net-zero goals including limiting global warming to 1.5C. The UK’s Chancellor also said that Britain will become the first country to force all financial institutions, and listed companies in the UK, to publish plans on how they will transition to net zero from 2023.
Japan committed an extra $10bn climate finance over five years. This means that the wealthier countries could hit the $100bn a year target one year sooner than expected.
Five countries along with a group of global charities have promised $1.7bn to support indigenous people’s conservation of forests and strengthening their land rights. The Scottish government pledged £1m to support victims of climate disasters by partnering with the Climate Justice Resilience Fund to address loss and damage caused by climate change.
Transport
34 countries committed to stopping the sale of non-electric vehicles by at least 2040, with several leading markets pledging to do this by 2035. The agreement was also signed by cities, car manufacturers and financial institutions, but not by the governments of three of the world’s biggest car markets – which are the US, Germany and China.
The Clydebank Declaration for green shipping corridors committed 22 countries to creating at least 6 zero-emission maritime routes by 2025. They hope to see many more green shipping corridors by 2030.
Methane
The US and the EU have launched an initiative to cut methane – the powerful greenhouse gas that comes from sources including fossil fuel extraction and livestock farming. Many heads of state signed up to the pledge, which commits to countries cutting methane emissions by 30% by 2030.
US and China
The US and China signed a rare joint declaration that commits these two biggest polluters in the world to “enhanced climate actions that raise ambition”. This makes promises on methane emissions, the transition to clean energy and decarbonisation, and plans to implement them in the “critical decade of the 2020s”.
Find out more
We have just given you a brief summary of some of the agreements and pledges made at COP26. You can find the full details about all these and more on the Glasgow COP26 Website, with lots of information about he Summit on the BBC’s website, including – Extreme weather: What is it and how is it connected to climate change? and at SkyNews/Cop26