Glasgow Climate Pact
The Glasgow Climate Pact was signed at the COP26 of the UNFCCC. Here are the key points of Glasgow Climate Pact.
What were the conclusions of Glasgow Climate Pact on Emission Cuts?
The signatories agreed that the current Nationally Determined Contributions are inadequate to limit the temperature rise to 1.5 degrees Celsius. India was the only participant at the COP26 to produce a new Nationally Determined Contributions (NDCs) that will bring the NDCs in line with the 1.5 degrees Celsius goal. According to Paris Agreement, the countries should produce new NDCs. The next schedule of such discussion is in 2025. Bottom line, the countries decided to place the agenda of revising NDC in next COP, to be held in Egypt, in 2023.
According to the International Energy Agency, there is no scope for the world to achieve 1.5 degrees Celsius temperature rise if the coal energy is not completely phased out. In order to achieve the goal, at least 40% of the 8,500 coal power plants should be closed by 2030. Phasing down coal was one of the hardest fought texts at the Climate Pact. No decision was made on phasing out fossil fuels. This was mainly because of strong opposition from developing countries and oil – producing countries.
What does the Glasgow Climate Pact say about Climate Finance and Adaptation?
In 2009, the developed countries agreed to provide 100 billion USD to the developing countries to help the latter cut emissions and cope with climate change impacts. However, by 2019, only 80 billion USD flowed. This issue was raised by the developing countries at the climate conference. Also, it was one of the most discussed issues in the conference. In the end, the Glasgow Climate Pact agreed to double the proportion of climate finance going to adaption.
What did the Glasgow Climate Pact say about Loss and Damages?
The losses and damages are those that are caused due to climate crisis. According to the developing countries, the discussions over loss and damage have made little progress in the recent past of UNFCCC. Also, they claimed that they are spending stretched budgets to repair the damages caused by climate crisis. On the other hand, the developed countries considered that the discussions were framed as a call for reparations for climate change. In the end, all the countries agreed to set up a reporting system called Santiago Network. However, nothing was finalized and the talks are to resume in COP27.
Topics: Glasgow Climate Pact
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