COP26 Summary

This COP26 Summary includes the key outcomes agreed at the UN Climate Talks, 31st October-12th November 2021 in Glasgow.

COP26 (or Conference of the Parties 26) is made up of 197 nations, which met to discuss and agree the ways forward for the United Nations Framework Convention on Climate Change.

What is COP26?

One of the major goals agreed at the earlier Paris Agreement (COP 21) was for all 197 nations to work towards stopping global warming from exceeding 1.5C. Something the UK Presidency of COP26 wanted to “keep alive”. The world is currently at 1.1C.

Most of the issues and protests at, and during COP26 stem from activists and environmentalists concerns that the leading, Developed countries have been slow to commit to actions and deadlines. They accuse these nations of spending too much time negotiating the various definitions in the Pact, to secure flexibility around the timeframes to take action, which have been agreed.

In addition, earlier Pact commitments given by countries to reduce emissions (NDCs or Nationally Determined Contributions) still point to the world facing a rise in temperature to 2.4C by the end of this century, according to research shared during COP26. The actions, commitments and deadlines that have been put forward in earlier COPs are considered by environmentalists as not early enough, or far-reaching enough.

In the final plenary session of COP26, Aminath Shauna, the Maldives Environment Minister made the stark statement;

“The difference between 1.5 degrees and 2 degrees, for us [the Maldives], really is a death sentence”.

A statement that is no doubt also being felt by the other countries in the southern hemisphere, which are experiencing rising sea levels, rising temperatures, and an increase in the numbers of devastating Super Typhoons experienced each year. All of which are already impacting on homes, livelihoods, and lives.

Dire, scientific predictions cite that if the world breaches the still predicted end-of-century 2C level:-

· More than 1 billion people will be put under extreme heat stress

· 99% of the world’s coral reefs will be ‘bleached’ and die

· The extinction of plant species will double against the current extinction rates.

· The melting of sea ice, in the summer, will be intensified by 10 times the current levels

· There will be a 6metre sea level rise globally, which will dramatically impact low- level coastlines around the world, such as the Maldives.

The Glasgow Climate Pact, reached during COP26, puts diplomatic pressure on the world’s governments to work on their plans to “revisit and strengthen” their climate pledges by the end of 2022 when COP27 takes place in Egypt.

Ministers agreed to submitting stronger 2030 emissions reduction targets to reduce the gap between the 1.5C global warming target and the predicted 2.4C outcome if more is not done. Ministers of developed countries also agreed to “urgently deliver” more resources to help climate-vulnerable countries adapt to the costly and dangerous consequences of climate change, which are being felt already.

Whilst there was a lot of backlash and disappointment from protestors and environmentalists, who felt COP26 didn’t go far enough or soon enough, there were a number of significant moves forward.

What commitments were made at COP26?

· 45% emission-reduction targets by 2030

· Developed countries to provide resources to the climate-vulnerable countries

· The Global Methane Pledge to slash emissions by 30% by 2030, signed by 109 countries (as of November 2021). Methane accounts for about 0.5°C of the 1.1°C–1.2°C warming the world has seen to date.

· 141 countries committed to halting and reversing forest loss and land degradation by 2030, backed up by $18 billion in funding. With $1.7 billion of that dedicated to supporting indigenous peoples.

· A newly established Glasgow Financial Alliance for Net Zero of $130 trillion of private capital, to accelerate the transition to a net-zero economy.

· The creation of international standards on net zero for all businesses

Net Zero = when the amount of greenhouse gas added to the atmosphere is balanced by the same amount of carbon removed from the atmosphere via carbon sinks e.g. forests, mangroves, carbon capture, storage etc.

· 11 major automakers will work towards selling only zero-emission vehicles globally, by 2040

· 23 Countries commit to accelerating the phase-out of coal power in the 2030s for leading nations, and the 2040s for the rest of the world.

· Major international banks commit to ending all international public financing of new unabated coal power by the end of 2021.

· An end to international financing for fossil fuels

· Rules for the global carbon market under the (COP21) Paris Agreement’s Article 6.

· Increased Adaptation Finance funding, by a further $40 billion, by 2025

· $413 million in new contributions to the Least Developed Countries Fund, for climate change adaptation.

· New Climate Plans (Nationally Determined Contributions; NDCs) submitted by 151 countries

· Alignment of NDC targets’ dates around five-year cycles; new 2025 NDCs should have a 2035 end-date, 2030 NDCs will have a 2040 end-date etc.

· Creation of an Ad Hoc Work Programme of technical experts and ministers, to develop a post-2025 climate finance goal.

· Implementation of a standardized set of formats and tables for all countries, to submit information about their emissions and financial, technological, and capacity- building support.

· The Glasgow Breakthroughs; global targets aimed at dramatically accelerating the innovation and use of clean technologies in five emissions-heavy sectors: power, road transport, steel, hydrogen and agriculture.

· A new Solar Investment Action Agenda to identify opportunities to speed up solar investment by 2030, mobilizing $1 trillion

What Does This All Mean For Businesses And Communities?

All governments will be expected to work on, and towards, the commitments made at COP26. This will include ensuring that businesses located in their country work with them towards a Net Zero state by 2050. To reach this goal the world needs to reduce emissions by 7.6% every year.

Net Zero isn’t just something that businesses should be working towards. Property Management companies, and citizens, can also act to try to achieve Net Zero in their homes and residences.

And there are many simple, low cost steps that can be taken to reduce energy use and even bring about positive energy production, which can be “sold’ back to the grid or saved for other uses.

It is important, however, to make sure any changes or projects undertaken are not just certified to internationally recognised standards, but that they are undertaken by a reputable and experienced supplier.

As an Energy Management Company CEMS has more than 10 years’ experience working with businesses to reduce their OPEX, develop best practice maintenance strategies and demand-side energy optimisation.

CEMS tailors its solutions and services to suit its clients’ needs, and meet their operational demands, capacity and budget. Whether those clients are Property, Facility or Asset Management businesses, production or manufacturing, leisure, hospitality, warehouse or even malls.

CEMS also provides project financing, through an Energy Performance Contract (EPC), which is measured and verified through the International Performance Measurement & Verification Protocol (IMPVP).

For information about our Services and Solutions visit our Service Page