COP 26 – The urgency of a new climate paradigm

After a 12-month delay due to the pandemic, tens of thousands of climate experts and activists gather for the 26th Conference of the Parties to the United Nations Framework Convention on Climate Change, known as COP26. The conference is taking place during the first two weeks of November 2021.

The Conference of the Parties (COP) of the United Nations Framework Convention on Climate Change (UNFCCC) is an annual conference held in late autumn since 1995. It is essentially a formal negotiating session for countries to move forward with its climate commitments and actions.

In Glasgow, groups of activists and official representatives used their creativity to draw the attention of those arriving to call for an end to polluting sources. Who still doesn’t know the video released by the United Nations in its campaign “Don’t choose extinction”? If you haven’t seen it, see it here: https://www.youtube.com/watch?v=RvRkypY-zJ4

The Paris Agreement, reached at COP21 in 2015, is the crown jewel of the UNFCCC process, as it gave the world its first universal global agreement on climate change. The Paris Agreement now provides the framework and guidance for the annual COP negotiations.

The COP26 is thus of extreme importance at the global level as it represents the moment for stakeholders around the world to collectively fight against the climate crisis, but this COP in particular comes at a particularly critical time. Climate has risen to the top of the global agenda, with the UN Secretary General calling the recent report by the Intergovernmental Panel on Climate Change a “red code for humanity”.

Given the devastating climate impacts we have seen this year – droughts and forest fires, severe floods and sea level rise – countries need to step up their efforts in terms of climate impact reduction. This COP represents a deadline for countries to submit new and improved nationally determined contributions (PADs) for 2030 – the pledges made by countries every five years in the Paris Agreement. A successful COP26, marked by strong country commitments, will be critical to keeping within reach the Paris Agreement target of limiting warming to 1.5°C above pre-industrial temperatures.

In one of the first meetings, the president of the summit, Alok Sharma, reinforced the requests of the Secretary General of the United Nations for the world to eliminate the use of coal.

He announced the Global Clean Energy Transition Declaration, a commitment to end investments in coal and eliminate its use by 2030 in major economies and by 2040 in other countries. The document also seeks to increase usage and ensure a fair transition to cleaner energy.

The pledge was signed by 77 parties, including countries like Poland, Vietnam and Chile, which promise to do away with coal for the first time. Alok Sharma said this would help propel the world to reduce and eliminate emissions and that even more can be done through the establishment of alliances and coalitions.

However, the declaration did not have the participation of major coal funders such as China, Japan and South Korea, although they committed last year to eliminate external financing for coal generation by the end of 2021.

Meanwhile, another alliance that seeks to accelerate the elimination of coal in a sustainable and economically inclusive way has gained new members, which includes seven countries and 14 financial institutions.

The governments of South Africa, France, Germany, the United Kingdom and the United States, together with the European Union, have announced an ambitious new long-term Fair Energy Transition Partnership to support South Africa’s decarbonization efforts.

US President Joe Biden and European Union Commissioner Ursula Von de-Leyen attended virtually to officially introduce the partnership.

Main issues to be addressed at Cop26

Ambition

All parties to the Paris Agreement were asked to submit updated 2030 pledges (NDCs) by COP 26. However, current climate commitments still contemplate the prospect of a 2°C increase in global warming by the end of the century, which would result in catastrophic climate impacts. Every fraction of degree of heating makes a significant difference. The extreme weather we witnessed all over the world was caused by 1.1°C above pre-industrial levels. At 1.5 °C – the temperature that many scientists consider the upper limit of the Earth’s safe zone – hundreds of millions of people will experience devastating heat waves, droughts, severe weather and sea level rise, and the extinction of an overwhelming number of species of animals and plants.

It is therefore imperative that COP participating countries close the gap between the current emissions trajectory and one that would limit warming to 1.5°C. South, Kenya, Bhutan improved their 2030 PADs last year. Several other countries, including China, Russia and Australia, have not submitted new NDCs or, their updated pledges are no stronger than previous ones. These countries will be under pressure to act during COP26.

Finance

At COP15 in Copenhagen (in 2009) and again at COP21 in Paris (2015), developed economies pledged to mobilize $100 billion annually in public and private financial support by 2020 to help developing economies chart a sustainable course and dealing with the impacts of climate change. Unfortunately, it is estimated that climate finance from rich countries to developing economies is still about $20 billion short of its $100 billion pledge. While many developed economies have increased their contributions – including President Joe Biden’s recent announcement that the United States estimates $11.4 billion a year through 2024 – there is still a deficit. In response, Germany, Canada and the UK have published a new report focused on meeting the $100 billion-a-year target, which they estimate will be reached by 2023 at the latest.

At this conference, the richest nations must demonstrate solidarity and renewed commitment to meet the climate finance goal they set more than a decade ago. Without progress on climate finance, developing economies will not have the resources they need to accelerate their transition to clean, sustainable and climate-resilient economies.

Adaptation

As countries grapple with the increasingly devastating impacts of climate change, adaptation will tend to be the main focus of COP26. “Climate adaptation” refers to the changes that communities will need to make in response to increasing climate impacts. Strategies for adapting and building resilience vary widely, from building roads in areas prone to flooding to restoring mangroves to protect vulnerable coastlines from hurricanes. The UN Secretary General is calling for at least 50% of climate finance to be devoted to helping the most vulnerable countries adapt to the effects of global warming, those who are suffering the most devastating consequences of the climate crisis and who have done little to cause it.

Finalize the Paris Rulebook

Countries are expected to finalize the rules necessary to implement the Paris Agreement (often referred to as the “Paris Rules Book”), including agreements on common approaches to carbon markets, transparent national reporting on emissions and common timeframes five years for the submission of updated NDCs.

According to a United Nations report, air pollution currently causes 7 million deaths per year. According to the data revealed, 5 air pollutants that contribute to global warming and have a harmful impact on human health and the ecosystem stand out: PM2.5, ground-level ozone, black carbon and methane.

Last Thursday, discussions focused on initiatives to accelerate the global transition to clean energy. Several companies that have plans to reduce emissions will find financing. To reach the commitment, there are guidelines for the companies involved. The guidelines are science-based and “aim to achieve zero net emissions by 2050, and a commitment to interim targets for a 50% reduction by 2030 and up to 25% over the next five years”.

Over the past decade, 40 times more money has been used for destructive practices than for forest protection and sustainable agriculture. At COP26, the commitment signed by more than 30 financial institutions foresees to change this situation. US President Joe Biden announced that his country is committed to ensuring the maintenance of biodiversity, protecting indigenous lands and reducing the risk of disease. The US government’s proposal is to support the recovery of 200 million hectares of forests by 2030.

It would be interesting if all the world’s powers came together in order to make a difference more quickly: World, Countries, Companies, Society and each one of us.