Glasgow Climate Agreements
The agreement – although not legally binding – will set the global agenda on climate change for the next decade:
Emissions
It was agreed countries will meet next year to pledge further cuts to emissions of carbon dioxide (CO2) – a greenhouse gas which causes climate change.
This is to try to keep temperature rises within 1.5C – which scientists say is required to prevent a “climate catastrophe”. Current pledges, if met, will only limit global warming to about 2.4C.
Coal
For the first time at a COP conference, there was an explicit plan to reduce use of coal – which is responsible for 40% of annual CO2 emissions.
However, countries only agreed a weaker commitment to “phase down” rather than “phase out” coal after a late intervention by China and India.
Developing countries
The agreement pledged to significantly increase money to help poor countries cope with the effects of climate change and make the switch to clean energy.
There’s also the prospect of a trillion dollar a year fund from 2025 – after a previous pledge for richer countries to provide $100bn (£72bn) a year by 2020 was missed.
Fossil fuel subsidies
World leaders agreed to phase-out subsidies that artificially lower the price of coal, oil, or natural gas.
However, no firm dates have been set.
Trees
Leaders from more than 100 countries – with about 85% of the world’s forests – promised to stop deforestation by 2030.
This is seen as vital, as tress absorb vast amounts of CO2.
Methane
A scheme to cut 30% of methane emissions by 2030 was agreed by more than 100 countries.
Methane is currently responsible for a third of human-generated warming.
The big emitters China, Russia and India haven’t joined .
Money
Financial organisations controlling $130tn agreed to back “clean” technology, such as renewable energy, and direct finance away from fossil fuel-burning industries.
The initiative is an attempt to involve private companies in meeting net zero targets.
What was COP26 and why was it necessary?
COP26 was the moment countries revisited climate pledges made made under the 2015 Paris Agreement.
Six years ago, countries were asked to make changes to keep global warming “well below” 2C – and to try to aim for 1.5C.
COP stands for “Conference of the Parties”, and the one in Glasgow was the 26th annual summit. Ahead of it, 200 countries were asked for their plans to cut emissions by 2030.
The goal is to keep cutting emissions until they reach net zero by mid-century.
INDIA AND CoP 26 GLASGOW
Prime Minister Narendra Modi’s surprise declaration of enhancements in India’s emissions reduction targets at the COP26 Climate Summit in Glasgow did not get the enthusiastic reviews the Government may have expected.
What are the new targets of the government?
- India’s new targets comprise of five elements.
- Reducing Emissions Intensity or emissions per unit of GDP by 45% in 2030 relative to 2005 levels
- Cutting absolute emissions by one billion tonnes, presumably from projected business-as-usual (BAU) 2030 levels
- 500 GW of non-fossil fuel installed power generation capacity by 2030
- 50% electricity generation from renewable sources by 2030
- Net-zero emissions by 2070
- Emissions – India’s current annual emissions are around 2.8 billion tonnes and projected to reach about 4.5 billion tonnes in 2030 on a BAU basis.
- The Prime Minister mentioned the Railways’ net-zero 2030 target cutting 60 million tonnes annually and LED bulbs cutting another 40 million tonnes a year is probably not easy.
- Renewable source – India has reached only around 101 GW of solar and wind due to numerous constraints.
- If large hydro and nuclear are added, current RE installed capacity is about 150 GW or lesser than 40% of total which almost achieves the NDC target for 2030 and showing under-projection.
- The current commitments may prove difficult because of the need for storage and grid stability.
- Infrastructure for Resilient Island States (IRIS) – India launched an international climate initiative called IRIS to provide technical knowledge and financial assistance to small island nations with the help of developed countries.
China has announced plans for carbon neutrality by 2060, while the US and EU aim to hit net zero by 2050.
India is the world’s fourth biggest emitter of carbon dioxide after China, the US and the EU.
During the closing plenary, India made an intervention that caused uproar among developed countries (as well as some developing countries), when it committed to a “phasedown of unabated coal power and phase-out of inefficient fossil fuel subsidies,” rather than a “phase out” of coal. Coal is among the most polluting fossil fuels.
Unabated coal power refers to coal produced without capturing or storing the carbon that is emitted.
India’s INDC Targets under Paris Agreement 2015
- To reduce the emissions intensity of its GDP by 33 to 35 % by 2030 from 2005 level.
- To achieve about 40 % cumulative electric power installed capacity from non-fossil fuel based energy resources by 2030.
- To create an additional carbon sink of 2.5 to 3 billion tonnes of CO2 equivalent through additional forest and tree cover by 2030.
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