GREEN NEWS & VIEWS
What COP26 Did and Didn’t Accomplish
BY ALICE C. HILL, CFR EXPERT AND MADELINE BABIN
Countries made notable commitments in the Glasgow Climate Pact, but they still fell short of the action needed to keep global warm- LQJZLWKLQPDQDJHDEOHOHYHOV :RXOG \RX FRQVLGHU WKH WZHQW\VL[WK &RQIHUHQFH RI WKH 3DUWLHV &23 DVXFFHVV" Yes, but barely. The UN climate summit delivered on its primary JRDORINHHSLQJDOLYHWKH3DULV$JUHHPHQW¶VDLPWROLPLWJOREDOZDUP - LQJWR& ) DERYHSUHLQGXVWULDOOHYHOV1DWLRQVDJUHHGRQWKH *ODVJRZ&OLPDWH3DFW , which states that carbon emissions will have to IDOOE\SHUFHQWE\WRNHHSDOLYHWKH&JRDO %XWWKHXOWLPDWHVXFFHVVRI&23GHSHQGVRQWKHGHWDLOV7KHIDFW that success relies on pledges for future action poses risk of failure. And beyond the concern that pledges might not translate into action, agreements in crucial areas fell short. :KDWGLGFRXQWULHVDJUHHWR" 1RWDEOHSURYLVLRQVLQWKH*ODVJRZ&OLPDWH3DFWLQFOXGH ODQJXDJH VXSSRUWLQJ D ³SKDVHGRZQ RI XQDEDWHG FRDO SRZHU´ which is the single biggest source RIJOREDOWHPSHUDWXUHULVHD¿UVWIRU a UN climate agreement; • new rules for trading carbon credits across borders, an issue that KDGHYDGHGUHVROXWLRQVLQFH DFDOOIRUQDWLRQVWRUHWXUQLQZLWKQHZPRUHDPELWLRXVWDU - gets to curb emissions; and, DUHTXHVWIRUD\HDUO\UHSRUWVXPPDUL]LQJQDWLRQV¶DQQXDOFRPPLW - ments to reduce emissions. 1DWLRQVVKDUHGRWKHULPSRUWDQWSOHGJHVGXULQJ&23LQFOXGLQJ 7KH8QLWHG6WDWHVDQG&KLQDWKHWZR ODUJHVWHPLWWHUVDJUHHGWR work together on climate despite recent rifts in diplomatic relations. 2YHURQHKXQGUHGQDWLRQVSOHGJHGWRFXWSHUFHQWRIWKHLUHPLV - sions of methane—a greenhouse gas that dissipates more quickly than carbon but fuels up to eighty times more heating over a twenty-year SHULRG²E\ 0RUH WKDQ QDWLRQV WRJHWKHU SRVVHVVLQJ SHUFHQW RI WKH ZRUOG¶VIRUHVWVDJUHHGWRKDOWDQGWKHQUHYHUVHGHIRUHVWDWLRQE\ 2YHU¿QDQFLDO LQVWLWXWLRQVRYHUVHHLQJ WULOOLRQ LQDVVHWV promised to align WKHLUSRUWIROLRVZLWKWKHJRDORIDFKLHYLQJQHW]HUR HPLVVLRQVE\ :KDWZHUHWKHIDLOXUHV" &23 3UHVLGHQW$ORN 6KDUPD KDG XUJHG QHJRWLDWRUV WR ³ consign coal power to history ´EXWWKDWGLGQ¶WKDSSHQ'HVSLWHWKHKLVWRULFFDOO LQWKH*ODVJRZ&OLPDWH3DFWIRUD³SKDVHGRZQ´LQFRDOSRZHUVRPH coal-reliant countries have indicated that they will not completely stop XVLQJFRDOXQWLOWKHVRUODWHU &RXQWULHVDOVRIDLOHGWRPDNHVLJQL¿FDQWSURJUHVVRQFOLPDWH¿QDQFH The UN Environment Program estimates that developing countries need ELOOLRQSHU \HDU IRU DGDSWDWLRQ DQG WKLV¿JXUH LV H[SHFWHG WRGRXEOHE\*RLQJ LQWR&23SRRUHUQDWLRQVUHQHZHGWKHLU FDOOV IRU ¿QDQFLDO KHOS IURP ULFKHU QDWLRQV WR DGDSW WR WKH H̆HFWV RI climate change. They also sought to establish a loss-and-damage fund for developed countries to compensate developing countries for areas irreparably harmed by climate impacts.
Photo 159642930 © Beth Baisch | Dreamstime.com
%XW WKH *ODVJRZ &OLPDWH 3DFW GLG QRW UHVROYH WKH IXQGLQJ FKDO - lenge. Although the Adaptation Fund ZKLFKZDVHVWDEOLVKHGLQ WR ¿QDQFH DGDSWDWLRQ H̆RUWV LQ GHYHORSLQJ FRXQWULHV UHFHLYHG PLOOLRQLQQHZVXSSRUWDW&23IXQGLQJOHYHOVUHPDLQZRHIXOO\LQ - adequate. And though the pact presses rich nations to at least double ¿QDQFHIRUDGDSWDWLRQE\WKLVUHPDLQVELOOLRQVRIGROODUVEHORZ the projected costs. Wealthier nations also blocked the move to create WKH ORVVDQGGDPDJH IXQG ,QVWHDG WKH SDFW LQFOXGHV D SURPLVH IRU IXWXUHGLDORJXHDERXWLQFUHDVHG¿QDQFLDOVXSSRUWDQGWHFKQLFDODVVLV - tance to mitigate climate-related damage. ,VWKHUHDZD\WRHQVXUHWKDWFRXQWULHVIROORZWKURXJKRQ WKHLUSOHGJHV" $FFRXQWDELOLW\UHPDLQVDFHQWUDOFKDOOHQJHEHGHYLOLQJJOREDOH̆RUWV to combat the climate crisis. 7KH *ODVJRZ &OLPDWH 3DFW LQFOXGHV SURYLVLRQV WR LQFUHDVH WUDQV - parency with the aim of boosting accountability. The pact also urges QDWLRQVWRFRPHEDFNLQZLWKJUHDWHUDPELWLRQV,ILPSOHPHQWHG SURSHUO\ WKH HQKDQFHG WUDQVSDUHQF\ IUDPHZRUNZLOO EH DQ H̆HFWLYH WRRO$QGLQQDWLRQVDUHVHWWRPHHWLQWKH8QLWHG$UDE(PLUDWHV WRDVVHVVSURJUHVVDVSDUWRI WKH3DULV$JUHHPHQW¶VJOREDO VWRFNWDNH A well-executed stocktake will evaluate whether nations are IXO¿OOLQJ continued on page 46
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