COP 26 & its importance

 

COP26 is the biggest climate summit since the Paris Agreement was inked in 2015. It comes at a pivotal moment for the planet as countries and companies hope to hit the gas on the transition to a fossil-fuel-free economy.

Glasgow was chosen by the UK to host COP26 due to its experience, commitment to sustainability and world-class facilities.

 

COP26: The Most Critical Climate Change Conference since the Paris Agreement

For governments and businesses today, there is nothing more urgent than taking climate action. To avoid irreversible damage and meet the Paris Agreement goals, including reaching net zero by 2050, global emissions must be cut in half by 2030.

 

Countries and companies that firmly embrace these opportunities, among other sustainability and climate innovation initiatives, will play a vital role in saving the planet. Equally crucial, they will create business advantage, in such forms as increased market share, new cost efficiencies, boosted valuations, and the ability to attract and retain top talent.

 

Formation of COP

The Conference of Parties comes under the United Nations Climate Change Framework Convention (UNFCCC), which was formed in 1994. The UNFCCC was established to work towards “stabilisation of greenhouse gas concentrations in the atmosphere.”

 

It laid out a list of responsibilities for the member states, which included:

 

* Formulating measures to mitigate climate change
* Cooperating in preparing for adaptation to the impact of climate change
* Promoting education, training and public awareness related to climate change

 

 

What do we need to achieve at COP26?

1. Secure global net zero by mid-century and keep 1.5 degrees within reach

Countries are being asked to come forward with ambitious 2030 emissions reductions targets that align with reaching net zero by the middle of the century.

To deliver on these stretching targets, countries will need to:

• Accelerate the phase-out of coal
• Curtail deforestation
• Speed up the switch to electric vehicles
• Encourage investment in renewables

2. Adapt to protect communities and natural habitats

The climate is already changing and it will continue to change even as we reduce emissions, with devastating effects.

At COP26 we need to work together to enable and encourage countries affected by climate change to:

• Protect and restore ecosystems
• Build defences, warning systems and resilient infrastructure and agriculture to avoid loss of homes, livelihoods and even lives

3. Mobilise finance

To deliver on our first two goals, developed countries must make good on their promise to mobilise at least $100bn in climate finance per year by 2020. 

International financial institutions must play their part and we need work towards unleashing the trillions in private and public sector finance required to secure global net zero.

4. Work together to deliver

We can only rise to the challenges of the climate crisis by working together.

At COP26 we must:

• Finalise the Paris Rulebook (the detailed rules that make the Paris Agreement operational)
• Accelerate action to tackle the climate crisis through collaboration between governments, businesses and civil society.

We at Solarmarts think that, all countries need to make ‘big commitments’ in following four areas:

• Coal: The use of coal should be reduced
• Cars: Governments should abandon the use of internal combustion engines and transition to electric vehicles.
• Finance: Developed countries need to take climate finance pledge.
• Trees: Government need to make serious attempts to protect nature.

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