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COP26 main goals and commitments and future challenges

Dec 2, 2021

The COP is held every year for discussions and methods on climate change, issues, plans, commitments and other related topics. COP26 has been postponed for a year due to the epidemic. In recent years, topics such as carbon reduction and net zero have been broadcast on the news. However, most of them are only in line with the goals of 2025 and 2030. To achieve these commitments, in addition to the cooperation of the state, enterprises and non-governmental organizations must also cooperate to avoid the counterattack of the natural climate.

COP25 - Spain 2019
COP26- UK 2021
COP27 - Egypt in 2022
COP28- UAE 2023

COP26 target

Countries are required to propose full carbon reduction targets, with net-zero plans to keep temperatures at 1.5 degrees
Protect ecological areas and natural habitats , and establish complete system protection facilities
To achieve the first two goals, advanced countries are required to commit to contributing at least $100 billion per year in climate finance
Working together to tackle the climate challenge requires governments, businesses, and the private sector to work together and accelerate action

COP26 commitment

Methane Commitment : Reduce methane emissions by 30% over the next decade
Land Use Declaration : Ending Deforestation by 2030
Clydebank Declaration : Six Green Routes by 2025
Glasgow Breakthrough Initiative : Setting global standards for five industries
Net-Zero Finance Coalition : Financial Sustainability Principles to Assist Net-Zero Emissions
Green Shipping Commitment : Zero Carbon and Fuel Scale by 2030
Commitment to zero-carbon vehicles : Many automakers have pledged to sell zero-carbon new cars in major markets by 2035

G20 members account for nearly 80% of global carbon emissions
The PwC Net Zero Emissions Report shows that the decarbonization rate in 2020 is 2.5%, and the decarbonization rate required for less than 1.5°C is 12.9%

 At the summit, the G20 reiterated its consensus on the Paris Agreement and announced carbon neutrality and net-zero goals, while COP26 reached the first coal reduction agreement and pledged to provide funds to developing countries to assist them in their transition to climate regulation.

COP26 is still a successful conclusion. The ~~main dispute is that China's Xi Jinping did not participate in the physical meeting. Second, India's carbon neutrality target set in 2070 will make the world very cold~~ , and the goal of controlling it at 1.5 degrees has no real complete consensus. Although the agreement Mentions that carbon emissions will be reduced in the next few years, and the carbon reduction pledges signed by countries, but these are not enough for climate nature.