COP26 OUTCOMES: THE GLASGOW CLIMATE PACT

After 13 days of intense negotiations, COP26 concluded on Saturday 13th November 2021 with every Party at COP26 – representing almost 200 countries – agreeing the Glasgow Climate Pact. This global agreement will accelerate action on climate this decade, and finally completes the Paris Rulebook.

The Glasgow Climate Pact is the climax of two years of fervent diplomacy and ambition raising. The Presidency’s work focused on delivering the Glasgow Climate Pact and driving action across the globe on:
1. Mitigation: secured near-global net zero, NDCs from 153 countries and future strengthening of mitigation measures.
Over 90% of world GDP is now covered by net zero commitments. 153 countries put forward new 2030 emissions targets (NDCs). To deliver on these stretching targets, the Presidency has driven commitments to move away from coal power, halt and reverse deforestation, reduce methane emissions and speed up the switch to electric vehicles.

2. Adaptation & Loss and Damage: boosted efforts to deal with climate impacts.
80 countries are now covered by either Adaptation Communications or National Adaptation Plans to increase preparedness to climate risks. The Glasgow – Sharm el-Sheikh Work Programme on the Global Goal on Adaptation was agreed, which will drive adaptation action. Record amounts of adaptation finance have been pledged, including committing to doubling 2019 levels of adaptation finance by 2025.

3. Finance: mobilised billions and trillions.
Developed countries have made progress towards delivering the $100 billion climate finance goal and will reach it by 2023 at the latest. 34 countries and five public finance institutions will stop international support for the unabated fossil fuel energy sector next year. Private financial institutions and central banks are moving to realign trillions towards global net zero. In Glasgow, countries agreed the way forward for the new post-2025 climate finance goal. Developed countries committed significantly increased funding to vital funds such as the Least Developed Countries Fund.

4. Collaboration: worked together to deliver.
The Glasgow Breakthroughs will accelerate collaboration between governments, businesses and civil society to deliver on climate goals faster, whilst collaborative councils and dialogues in energy, electric vehicles, shipping and commodities will help deliver on commitments.
Even with the action committed both during and before COP26, communities around the world will continue to feel the impact of our changing planet, we must continue the work of COP26 with concerted and immediate global effort to deliver on all pledges.

Sources: https://ukcop26.org/the-conference/cop26-outcomes/