FEATURE NET ZERO TARGETS
COP26: what’s next for global change action? With only a few weeks until the COP26 Summit takes place in Glasgow, it is expected that all eyes will be on the nations at the Summit to progress with negotiations and set ambitious, achievable targets to tackle climate change.
N
ow two years on from the last event, will this year’s summit achieve what COP25 could not? COP25 was tasked with
finalising the rules of Article 6 of the Paris Agreement, particularly focusing on the rules of future international carbon markets and agreeing upon numerous financial matters. Overall, very few decisions were made at COP25 despite many hours spent negotiating and the Summit continuing two days longer than planned due to this. Businesses however, really shone a light on the event as they began to recognise their responsibility and the role they play in contributing to climate change, with many announcing their ambitious plans to decarbonise during COP25. These announcements helped to mitigate the frustrations many felt from the Summit’s outcome. It is hoped that COP26 will make more headway on Article 6, and deliver clear decisive action to reduce global emissions and make the changes needed to fight climate change.
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What can we expect from this year’s COP26 Summit?
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Due to the Coronavirus pandemic
Adapt to protect communities and natural
scientific advice on staying within 2°C limit of
habitats around the world, to improve their
global warming. In preparation for the Summit,
resilience against climate change
nations are expected to have already submitted
To mobilise finance through developed
their updated NDC’s to the UN, at this point 110
countries delivering on the promise to
out of 197 nations have done so.
postponing COP26, the Summit, which is taking
raise $100bn in climate finance per year to
place this November is much anticipated, but
support developing countries
nations can come together to solve problems
To work together to agree on, deliver and
with devastating worldwide impact. This has
rise to the challenges of climate change.
inadvertently created a potential step change
what plans do the UK Government, as hosts, have to ensure its success? The Government’s
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ambition is to lead from the front and position the UK as a global exemplar of climate change
The COVID-19 pandemic has shown us how
in how nations could work together to tackle In the run up to COP26, much like we
the challenges of the climate emergency.
innovation and action. In recent months there
saw with COP25, many large organisations
Without a doubt the pandemic has shown us
has been consistent announcements from
are making their commitment to reduce their
that health, wealth and environment are linked,
Government offering incentives and schemes to
emissions, and it is hoped that more will follow.
and that we must take care of our planet to
encourage both commercial and domestic users
The appetite for net zero from business is
protect ourselves from further climate impacts.
to take steps to reduce their emissions. These
certainly growing, with 4,660 organisations so
commitments have included funding for green
far having joined the Race to Zero campaign,
stage, there is growing public awareness of the
jobs, the introduction of green sovereign bonds
and 828 businesses with approved Science-
effects of climate change, and startling warnings
and research grants to accelerate the emergence
Based Targets.
that we are running out of time to take action
of renewable and carbon capture technologies. There are four main goals to be achieved at COP26, including: •
As global leaders prepare to take the worlds
Many developed countries have been
to protect ourselves from disaster. With high
putting their efforts into their own Nationally
expectations for what COP26 will deliver, this
Determined Contribution (NDC), a promise which
Summit will be potentially the most anticipated
each made in the Paris Agreement to reduce
and contested yet.
To secure global net zero by 2050, keeping
national emissions and adapt to the impacts of
the 1.5 degree global warming limit within
climate change. The NDC sets out how countries
More at https://ukcop26.org
reach
should align their emissions-cutting targets with
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