The Conference of Parties, more commonly known as COP, is the apex decision-making body that undertakes the monitoring and reviewing of effective implementation of the United Nations Framework Convention on Climate Change (UNFCCC). It is a collaboration of 197 nations that have come together to address the global climate crisis. Constituted in 1994, the apex body organized its first event in 1995, COP1, in Berlin, Germany. It has since conducted 25 of such annual events, with COP25 held in December 2019 under the Presidency of the Government of Chile in Madrid, Spain. The end of October this year embarked upon the COP26 journey, in Glasgow, Scotland, from 1st to 12th November, 2021. While many considered COP26 to be yet another international summit on addressing the climate change crisis, however, pursuant to the Summit, there has been a change of perception, with the Summit being considered as a pivotal movement focused on climate change/ finance. Though the Final climate agreement got watered down on some aspects such as coal – Phase down instead of Phase out; financial commitments for developing nations by developed nations still in a grey zone; phasing out of inefficient fossil fuel subsidies, etc. The overall outcome of the Summit looks positive and likely to yield the required efforts to safeguard the climate and transition to more sustainable living.
Prime Minister of India, Narendra Modi addressed the COP26 event by reiterating the nation’s commitment to net-zero carbon emissions and achieving the desired target by 2070. He highlighted that India is the only major economy to deliver on its commitments undertaken as part of the Paris Agreements in both, letter and spirit. He further affirmed that India will reach its non-fossil energy capacity to 500 GW and also meet 50 per cent of its energy requirements from renewable energy by 2030. As part of his speech, PM Modi suggested a new mantra for sustainable development, ‘LIFE’ i.e. Lifestyle for Environment. With lifestyle patterns and activities playing a major role in climate change, there is an urgent need for us to come together and stride towards LIFE as a movement for achieving sustainable development. Thereafter, observing climate finance to be parallel with climate mitigation, PM Modi urged developed nations to expedite the pledged climate finance of one trillion dollars. Speaking at the global event on day 3, Prime Minister of India, Narendra Modi referring to the benefits associated with solar power, enunciated the ‘One Sun, One World, One Grid’ solution. It is aimed at addressing the concern regarding availability of the energy source during daytime and dependence on weather. The solution will help provide a worldwide grid via which clean energy can be transmitted anywhere and anytime. PM Modi’s discussions included bilateral talks with his Nepalese and Israeli counterparts and he also connected with Microsoft co-founder and billionaire philanthropist Bill Gates to discuss ways to further achieve sustainable development and adapt mitigation of climate action plans. Ensuing are the 5 major commitments that Mr. Modi made at COP26, aimed at remodelling India’s environmental and economic strategies in future:
Prime Minister of UK, Boris Johnson, interestingly linked the ever-warming Earth’s global temperature crisis to that of fictional character, James Bond – 007, who is strapped to a ticking bomb that has the ability to destroy the entire planet and the secret agent, who in this case may be referred to as the global community trying to figure out a way to defuse it. PM Boris Johnson, as part of the UK’s Clean Green Initiative, announced a funding package, aimed at supporting the rollout of sustainable infrastructure and revolutionary green technology in developing countries. Sending out a loud and clear signal, almost two in three FTSE100 firms signed up to the UN’s Race to Zero campaign to eliminate their contribution to carbon emissions by 2050. The United Kingdom announced a new £85,000 research grant to support the Internal Displacement Monitoring Centre for facilitating better information on the education needs of refugee children and enabling a more effective international response. The United Kingdom pledged to shift to clean trucks by committing to end the sale of most new diesel trucks between 2035 and 2040.
US President, Joe Biden while addressing the forum emphasized on making this decade one that is packed with substantial collaborative ambition and innovation, which is the need of the hour, required to sustain in the near future. With the climate crisis posing an existential threat to humans and other living beings on the planet, it is imperative that world leaders embark on the transformational journey towards clean and green energy. Every passing day, the risks associated with global climate change continue to rise and every day we delay, the cost of inaction increases. President Biden further affirmed that it is the responsibility of wealthy nations, who are also the leading sources of polluters/ emitters, including the US, to provide adequate support and aid smaller countries that are struggling to cope with catastrophic effects associated with the global rise in temperatures. During his speech, Joe Biden reaffirmed the audience on building an environment that raises standards of living across the globe and committed to reduce U.S. greenhouse gas emissions well over a gigaton by 2030. Furthermore, the President also stated that efforts were required to be undertaken for consumers to save on their own energy bills and tax credits for installing solar panels, weatherizing their homes, lowering energy prices and the like. He also spoke about a number of initiatives such as Build Back Better World, Global Methane Pledge, etc. which the US has undertaken in collaboration with other global partners, focused on transformative actions, reduced emissions rate and so on. Sending out a loud and clear signal, almost two in three FTSE100 firms signed up to the UN’s Race to Zero campaign to eliminate their contribution to carbon emissions by 2050.
The European Commission President, Ursula von der Leyen announced a £1 billion contribution to the Global Forests Finance Pledge. It is expected to provide a 5-year support package to help countries with mitigation action to protect, restore and sustainably manage forests worldwide, and thereby align with the commitment of the Paris Agreement.
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