#COP26 and #GlasgowClimatePact summary from @uoebusiness Director of B-CCaS

Prompt: “Thanks for explaining that! Can you summarise key outcomes in one 280 character tweet per topic?”

Response: “No. But I can certainly try.”

Here goes.

Caveat: It is ALWAYS more complex …
Abbreviations:
S: Summary
I: Importance
P: Positives
N: Negatives
Deforestation
S: 110 leaders commit to end deforestation by 2030
I: Protect key sink absorbing carbon from atmosphere
P: Covers 85% world’s forests incl Brazil = amazon; indigenous communities & $$ mentioned
N: Date too distant; 2014 pledge failed; diet-related causes ignored
Methane
S: 100 countries Global Methane Pledge - limit methane emissions by 30% (2020 baseline)
I: Methane is very potent GHG
P: Immediate benefits; low cost and ‘easier’ implementation; covers 50% of emissions
N: Excl. large emitters (eg Russia China India Australia); voluntary
Coal (week 1)
S: 40 countries phase out coal electricity in 2030/40s
I: Coal = 30% of emissions
P: Incl. big players (eg Canada Poland Indonesia); highlights issue; sets dates
N: Excl. largest consumers (eg China US India Australia); dates distant; enforceability; gas replacement
Coal (in pact)
S: Includes “phase-down of unabated coal power”
I: First time in official agreement
P: Makes it critical issue; increases risk to new investment; agreed by all countries (unexpected!)
N: Watered-down wording (‘down’ not ‘out’ / ‘unabated’); no actual target date
Fossil Fuel Subsidies
S: Includes “phase-down inefficient fossil fuel subsidies”
I: $420 billion pa FF subsidy by govts to artificially lower consumer prices
P: Makes it critical issue; agreed by all countries (unexpected!)
N: Watered-down (‘inefficient’); no actual target date
Financial Flows to Global South
S: Agree ‘at least double’ $ to global south by 2025
I: Nations desperately need $ to enable transition
P: Ongoing importance and increased $ commitment
N: Existing ‘$100bn by 2020 pledge’ (made a decade ago) missed; mistrust of new commitments
Strengthened Targets
S: Commitment to bring strengthened targets to COP27
I: Need greater ambition for 1.5º and near term goals
P: Admission current targets fall short; creates pressure for new targets in 1 year (5 year cycle before)
N: Just a delaying tactic? Enforceability?
Glasgow Climate Pact
S: Main COP26 outcome
I: Essential to bolster global process in future
P: Agreement was reached; Key first time mentions of coal, fossil fuel subsidies
N: Much qualifying language; lack of support for global south
Overall COP26
S: Major UN climate conference completed
I: Back on track after Covid
P: Pact agreed; ambitious country targets pledged; thousands attended and engaged; presence of community, industry and NGOs
N: Targets miss 1.5º; Covid prevented full engagement; Pact watered-down

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