Mountford - COP26. Key Outcomes Flashcards
COP26 (2021): Did countries commit to deep 2030 emissions cuts?
Not nearly enough :(
COP26 (2021): Did countries agree to a process that could keep the 1.5°C goal alive?
Yes:
- Calls to restrengthen 2030 targets by the end of 2022
- Submit long-term strategies to 2050, aiming for a just transition to net-zero emissions mid-century
- Call for further actions on potent non-CO2 gases (like methane)
- Language emphasizing the need to phase down unabated coal and phase-out fossil fuel subsidies
COP26 (2021): Did developing countries get the finance and support they need?
Failed before, but:
- Countries agreed to a robust process to develop a new, larger climate finance goal + a range of options + ad hoc work program
- Developed countries agreed to double funding for adaptation by 2025
COP26 (2021): What happened on loss and damage?
- New dialogue for discussing possible arrangements insufficient, but does offer space to develop concrete solutions
- Operationalize and fund the Santiago Network on Loss and Damage to catalyse the technical assistance developing countries need to address loss and damage in a robust and effective manner
COP26 (2021): What did negotiators agree to maintain the integrity and ambition of the Paris Agreement?
- International Carbon Markets: Rules set, avoid double-counting, but: allow carry-over of old carbon credits generated since 2013
- Common time frames: Use common time frames for national climate commitments, five-year cycles to spur ambitions and action
- Transparency: Submit information about emissions and financial support using standardized set
COP26 (2021): What developments outside the negotiations were most significant?
- Global Methane Pledge to slash emissions by 30% by 2030
- Halt and reverse forest loss and land degradation by 2030
- Align the finance sector with net-zero by 2050
- Phase out domestic coal by 46 countries
- Over 400 financial firms aligned their portfolio to net-zero by 2030
