GLASGOW CLIMATE PACT: 1.5° C STILL POSSIBLE; COAL BEING PHASED OUT BUT WE ALL NEED TO DO MORE
COP26 concluded on November 13 with the Glasgow Climate Pact endorsed by 197 countries. While there was much criticism on the lack of major achievements, there was progress in keeping 1.5°C temperature goal alive.
Mitigation: The Glasgow pact emphasized stronger action by countries to achieve the 1.5°C goal. Countries agreed to a more aggressive and ambitious time table to present their National Determined Contributions (NDC). Instead of presenting their NDCs every 5 years as laid out in the Paris Agreement, the revised NDCs will be presented at COP27 in Egypt in 2022 and once again in 2023 in the UAE.
Coal and Methane: Significantly, coal and methane were mentioned for the first time in any COP decision document. Both India and China resisted initial language that mentioned coal being “phased out”, and the final document was amended to mention that coal should be “phased down”. In addition, 100 countries agreed to cut 30% of methane emissions by 2030. China, Russia and India did not join but may do so later.
Financing: The agreement pledged to finance low-income countries increase their reliance on clean energy and mitigate the effects of climate change. The Adaptation Fund, intended to finance adaptation efforts in developing countries, received $356 million in new support at COP26, much less than the US Environmental Program estimates of $70 billion a year needed for adaptation. Wealthy nations also blocked the establishment of a loss and damage fund to compensate developing countries for harm caused by