COP26: What are the Main Takeaways?
The 26th UN Climate Change Conference of the Parties (COP26) took place in Glasgow on 31 October – 12 November 2021.
The event brought parties together to accelerate action towards the goals of the Paris Agreement and the UN Framework Convention on Climate Change.
The 26th edition of the annual event was the first one taking place after the COVID-19 pandemic and marked the 5 years of the Paris Agreement, where countries have committed to limit global warming to 1.5 °C and below 2 °C.
Even though the 26th Conference of Parties has been criticised for not having done enough to help small and sea-level states and for having failed in the gradual elimination of coal, some important initiatives have been announced:
The Glasgow Climate Pact: the non-legally binding agreement deals with the actions to “keep the 1.5 °C target alive”, including measures to “phase down” coal, which is considered one of the main sources of greenhouse gas emissions, already by 2022. The document recognises that nationally determined contributions (NDCs) are not enough to fight climate change and asks countries to bring new commitments and plans at COP27, taking place next year in Egypt. Moreover, fossil fuels are mentioned for the first time in a UN climate-related declaration.
The United States re-enter the High Ambition Coalition: the informal partnership brings together small and big countries to stress the importance of emissions reduction and the need to take action before COP27.
The Global Methane Pledge: over 100 countries have engaged in the commitment to reduce global methane emissions by at least 30% by 2030 compared to 2020 levels.
The Global Energy Alliance for People and Planet: the new alliance aims at channelling private and public capital in renewable energies and accelerating the green transition in developing countries. The partnership will address people's access to renewable energy, climate change and the creation of sustainable jobs.
What was the role of the European Union in the COP26?
The Global Forests Finance Pledge: the European Commission pledged to participate in the Fund by channelling EUR 1 billion to help third countries protect and unlock the potential of sustainable use of land to meet the goals of the Paris Agreement.
The EU has announced a Just Energy Transition Partnership with South Africa to help its effort in decarbonisation.
The EU-Catalyst Partnership: the European Commission has engaged in a new collaboration with the European Investment Bank and the Breakthrough Energy Catalyst to lower the costs of technologies that could be used to reduce emissions, encouraging the channelling of funds in clean hydrogen, sustainable aviation fuels, direct air capture and long-duration energy storage.
EU’s pledge to the Climate Adaptation Fund: EUR 100 million will be directed to create tangible solutions in developing countries to reduce the impact of climate change on society and communities.
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