Absa AgriTrends 2022


The United Nations (UN) and the World Meteorological Organization (WMO) established the IPCC to review the state of knowledge on climate change.

UN Earth Summit the United Nations Framework Convention on Climate Change was produced as a first step in addressing the climate change problem.



The Kyoto Protocol was adopted by various countries. Through this protocol, developed countries were legally binded to reduce emissions based on negotiated targets. The protocols first commitment period started in 2008 and ended in 2012. Its second commitment period started in 2013 and ended in 2020.

At the 21st Conference of the Parties, the Paris Agreement was reached whereby countries agreed to work towards a common goal of combating climate change, its effects and to support developing countries to do so. This was also the first time where targets to limit global warming to well below 2 °C were agreed upon. Every country agreed to communicate or update their emissions reduction targets every five years to reflect their ambition and progression over time. These targets set out how far countries plan to reduce emissions across their entire economy and/or in specific sectors.


At COP26 in Glasgow around 70% of the world’s economy is committed to reaching net zero emissions. More than 80 countries have formally updated their targets, and all G7 countries have announced new targets that put them on the path to net zero emissions by 2050. Accounting for around half the global economy, all the countries that make up the G7 have updated their 2030 targets to put them on a pathway to net zero by 2050. This also include some of South Africa’s key trading partners such as the EU with initiatves such


as a Carbon border adjustment mechanism and the European Green Deal.


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