Mountford - COP26. Key Outcomes

Question 1

COP26 (2021): Did countries commit to deep 2030 emissions cuts?

Answer 1

Not nearly enough :(

Question 2

COP26 (2021): Did countries agree to a process that could keep the 1.5°C goal alive?

Answer 2

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

Question 3

COP26 (2021): Did developing countries get the finance and support they need?

Answer 3

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

Question 4

COP26 (2021): What happened on loss and damage?

Answer 4

• 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

Question 5

COP26 (2021): What did negotiators agree to maintain the integrity and ambition of the Paris Agreement?

Answer 5

1. International Carbon Markets: Rules set, avoid double-counting, but: allow carry-over of old carbon credits generated since 2013
2. Common time frames: Use common time frames for national climate commitments, five-year cycles to spur ambitions and action
3. Transparency: Submit information about emissions and financial support using standardized set

Question 6

COP26 (2021): What developments outside the negotiations were most significant?

Answer 6

• 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