Reflections on Glasgow and COP26

Reflections on Glasgow and COP26

COP26 Highlights COP26 and its goals

COP21 took place in Paris in 2015. On that occasion, and for the first time, almost every country in the world agreed to work together to limit temperature increase to below 2 degrees, aiming at 1.5 degrees, compared to pre-industrial levels. The progress was to be tracked every 5 years, but due to the breakout of COVID in 2020, that important milestone became COP26 in 2021. COP26 took place from October 31 to November 12 in Glasgow under the Presidency of UK in partnership with Italy and set out the following goals: Goals

• Secure global net-zero by mid-century and Keep 1.5 degrees within reach with ambitious 2030 reduction targets • Accelerate the phase-out of coal • Curtail deforestation

MITIGATION

• Speed up the switch to electric vehicles • Encourage investment in renewables

ADAPTATION

• Protect and restore ecosystems • Build defenses, warning systems and resilient infrastructure and agriculture to avoid loss of homes, livelihoods and even lives • Mobilize at least $100bn in climate finance per year by 2020. • International financial institutions must work towards unleashing the trillions in private and public sector finance required to secure global net zero • Finalize the Paris Rulebook (the detailed rules that make the Paris • Agreement operational) • Accelerate action to tackle the climate crisis through collaboration between governments, businesses and civil society

FINANCING

COLLABORATION