According to foreign media reports, governments will reach an agreement on how poor countries respond to global warming on November 8. This will test whether developing countries and rich countries can break the deadlock on how to invest in climate change.
At the 26th meeting of the Parties to the United Nations Framework Convention on Climate Change (COP26), the United Kingdom announced a new funding of US$391 million. The purpose includes supporting Asia-Pacific countries in responding to the effects of global warming.
The British government stated that rich countries such as the United States, Japan, and Denmark have pledged to provide “billions of dollars in additional international funds” to poor countries severely affected by climate change. These funds will be used for the recovery and recovery of poor countries following the impact of climate change. adapt.
However, developing countries hope to get more funds to help them adapt to the effects of global warming, because higher temperatures may lead to more frequent droughts, floods and wildfires. Developed countries have invested money to reduce carbon emissions.
Relevant British government official Anne-Marie Trevelyan said: “We must act now to prevent climate change from driving more people into poverty. We know that climate change affects those who are already the most vulnerable. Had a serious impact.”
She added in a statement: “Our goal is to achieve major changes to promote sustainable development and create a climate-resilient future for all.”
In the past week, many countries made promises, and some developing countries accused the rich countries of breaking the promises they had made. The meeting on November 8th will discuss how countries are dealing with adaptation, loss and hazards (climate issues).
Since the adoption of the Paris Agreement, the number of new coal-fired power plants planned globally has fallen by 76% in the past six years. This is equivalent to the cancellation of more than 1,000 GW of new coal-fired power plants.
On November 5, the latest analysis published by the Energy Transition Commission showed that if all the commitments made by countries before the end of the first week of COP26 can be fulfilled, the world will reduce 9 gigatons (Gt) of carbon dioxide emissions. In order to maintain the temperature rise within 1.5 degrees Celsius, by 2030, the annual carbon dioxide emissions need to be further reduced by 22 gigatons. Therefore, the remaining target of about 13 gigatons reminds us that there is still a long way to go in tackling climate change.
Reducing methane emissions is critical to achieving the 1.5 degrees Celsius target. To achieve this goal, it is estimated that the annual methane emissions will need to be reduced by 40% in 2030. The same analysis found that if the promise made in the first week of COP26 can be fulfilled, the goal of reducing methane emissions by 40% can be achieved by one third.
According to previous reports from British media, on November 3, more than 40 countries around the world reached an agreement at this COP26 conference and agreed to phase out coal-fired power generation. Among the countries that have reached an agreement, the larger economies will phase out coal power by 2030, and the smaller economies will phase out coal power by 2040.
At the same time, major international banks have pledged to effectively end all new international public financing of non-emissions coal power by the end of 2021, including major international banks such as HSBC, Fidelity International and Ethos.
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