Several climate pledges were made by world leaders at COP26 which culminated in an agreement to strengthen emissions-cutting targets for 2030. Key agreements from the climate summit include:
Global Climate Pact aims to keep limiting global warming to 1.5C above pre-industrial levels.
Conclusion of the ‘Paris rulebook’, particularly the fundamental norms relating Article 6 on carbon markets.
“Phase down” of unabated coal and the phasing out of inefficient fossil fuel subsidies.
At least 20 countries including Italy, Canada, the US, and Denmark alongside public finance institutions promised to stop public finance to overseas fossil fuels by the end of 2022, diverting the cash into clean energy instead.
More than 40 world leaders (including from the US, India, Australia, Turkey, the EU and China, have agreed on a UK-led plan to speed up affordable and clean technology worldwide by 2030 in the areas of Power, Road transport, Steel, Hydrogen, Agriculture.
In partnership with Bill Gates and the European Investment Bank, the EU has launched a programme to finance breakthrough climate innovation via the financing of new technologies.
Five countries (including Britain and the US) and a group of global charities have promised $1.7bn to support indigenous people’s conservation of forests and strengthen their land rights.
The Scottish government has pledged £1m to support victims of climate disasters.
Several countries have pledged to halt and reverse deforestation including the United Kingdom, Brazil, Russia, Canada, Colombia, Indonesia, and the Democratic Republic of Congo.
45 countries pledged urgent action on making farming more sustainable. In addition to commitments regarding methane, pledges were made to invest in green agricultural practices and protecting nature.
In terms of transportation, countries pledged to collaborate regarding the creation of at least six zero-emission maritime routes by 2025, with near time pledges to achieve more green shipping corridors by 2030, all on the back of the Clydebank Declaration for green shipping. 34 countries committed to ending the sale of non-electric vehicles by at least 2040.
Heads of State signed up to the pledge committing countries to cut methane emissions by 30% by 2030.
While the pledges and agreements are commendable, the most important pledge to end energy poverty in Africa remains pending. Global leaders need to be conscious of the implications of their pledges and agreements on energy deprived climes that are majorly dependent on investments and revenues from fossil fuels, especially in light of the fact that Africa as a continent has only contributed less than 3% to the cumulative global emissions. A strategic and balanced approach will need to be adopted to ensure that no one is left behind in the race to net zero.