“The outcome of COP26 is a compromise. It reflects the interests, the contradictions and the state of political will in the world today. It is an important step, but it is not enough,” UN Secretary-General António Guterres said at the conclusion of the conference. Watch below.
The Glasgow Climate Pact, adopted by almost 200 countries after two intense weeks of negotiations, will not radically alter the global landscape on climate change. It does provide important advances, however. For starters, it recognizes the global climate emergency, citing recent IPCC findings. It expresses “alarm and utmost concern that human activities have caused around 1.1°C of global warming to date and that impacts are already being felt in every region.” Parties also recognize that the impacts of climate change will be much lower at a 1.5°C rise compared with 2°C, and resolved to pursue efforts to keep to 1.5°C.
The Pact significantly ramps up the call for greater action and financing for adaptation. It urges developed countries to at least double their collective climate finance for adaptation in developing countries from 2019 levels by 2025, to ensure a balance between adaptation and mitigation. It calls on multilateral development banks, other financial institutions and the private sector to enhance finance mobilization to deliver the scale of resources needed to achieve climate plans.
COP26 also reached agreement on key provisions of the “Paris Agreement Rulebook”, a source of contentious negotiations over the last six years. The agreement covers issues around market mechanisms and transparency.