The Glasgow Climate Pact (GCP) found approval from 196 parties during the COP26 climate change conference in Glasgow.
Referred to as a mixed bag, the pact is characterized by both tangible achievements and several unmet expectations. Many nations emphasized its significance as a modest yet crucial advancement in maintaining aspirations for the 1.5°C temperature target. However, observers and civil society groups viewed it as a lost chance to strengthen global climate action.
KEY POINTS OF GLASGOW CLIMATE PACT
Mitigation:
- The pact stresses the urgency of stronger action in the current decade to achieve the 1.5-degree target.
- Countries are required to enhance their 2030 climate action plans (NDCs) by the next year, shifting from the previous timeline of 2025.
- The UN Secretary-General is tasked with convening a meeting of world leaders in 2023 to elevate the ambition of climate action.
- It calls for a phase-down of coal and the eventual phase-out of fossil fuels.
Adaptation:
- Emphasizes the importance of adaptation, especially for smaller and poorer countries and small island states.
- Developed countries are urged to double the funding for adaptation by 2025 from 2019 levels.
- Establishes a two-year work program to define a global goal on adaptation.
- Funds the Santiago Network, aiming to build technical expertise on climate adaptation in vulnerable nations.
Climate Finance:
- Developed countries commit to arranging at least $100 billion annually by 2023, reaffirming the promise made in 2009.
- The agreement acknowledges the inadequacy of existing commitments to prevent planetary warming and calls for strengthened targets by the end of the next year.
Burning of Fossil Fuels:
- Includes language for the first time, urging countries to reduce reliance on coal and roll back fossil fuel subsidies.
Net Zero:
- Both developed and developing countries commit to reducing emissions to net zero.
- Some countries, like Brazil, advance their net-zero targets, and China pledges a detailed roadmap for emissions peaking in 2030 and net zero by 2060.
- Mention of “loss and damage” is included, recognizing the costs faced by some countries from climate change, and discussions on the topic will continue.
Global Carbon Markets:
- Allows the use of unused carbon credits from the Kyoto Protocol in meeting countries’ first NDC targets.
- Credits issued before 2013 will not be carried forward, preventing an overflow of old credits in the market.
Overall Achievement:
- Represents a mixed bag with tangible achievements and unmet expectations.
- Viewed by some as a small but crucial step in achieving the 1.5°C temperature goal, while others see it as a missed opportunity for stronger global climate action.
SIGNIFICANCE OF THE PACTS
- Transition from Fossil Fuels: Marks the first explicit recognition of the necessity to transition away from fossil fuels, with a specific emphasis on phasing out coal-based power.
- Adaptation Commitment: Acknowledges the critical importance of adaptation and commits to doubling the current financial support for adaptation efforts in developing countries.
- Historic Mention of Coal: Represents the first instance of coal being explicitly mentioned in any COP (Conference of the Parties) decision, highlighting the global consensus on addressing the impact of coal on climate change.
- India’s Panchamrita of Climate Actions: India’s announcement of a “Panchamrita” (a mixture of five elements) of climate actions adds a unique and comprehensive dimension to the global commitment, showcasing India’s commitment to addressing climate challenges through a multi-faceted approach.
CONCERNS WITH THE PACT
- Climate Finance Commitment: The commitment to deliver on the climate finance pledge in the 2020-2025 period, with an enhanced flow thereafter, raises concerns about feasibility, particularly in the context of a post-pandemic global economic slowdown. The existing finance commitment of $100 billion per year may fall short of the larger investments required for achieving the emission-reduction targets agreed upon in Glasgow.
- Insufficient Climate Finance: The Glasgow text does not explicitly address the estimated financial needs for developing countries (excluding China), which experts project to be around $800 billion per year by 2025 and escalating to $2 trillion per year by 2030. The absence of clarity on this significant financial aspect is a notable concern.
- Loss and Damage Coordination: Despite increased attention to adaptation and loss and damage, the demand for a standalone facility to coordinate loss and damage activities was not met. This limitation suggests that progress made in the climate pact may not effectively translate into a meaningful flow of funds for loss and damage activities.
- Voluntary Targets and Compliance Mechanism: The voluntary nature of the new targets, coupled with the absence of a compliance mechanism or penalties for non-compliance, raises questions about the effectiveness of these targets. Additionally, the conditional nature of many targets on the availability of financial support introduces further uncertainties.
- Lack of Specificity on Net Zero Measures: The lack of detailed and specific actions from many countries regarding their net-zero commitments introduces uncertainty about the actual trajectory to net zero. The absence of clear measures may impact the overall achievement of emission reduction targets.
WAY AHEAD
- Active Push for Financing Agenda: Developing countries, including India, should actively advocate for the financing agenda at CoP-27 in Egypt. Ensuring sufficient finance is made available will be crucial for the effective implementation of climate actions and the attainment of emission reduction goals.
- Transition from Fuel Taxes to Carbon Tax: India, in particular, should develop a clear strategy for transitioning away from fuel taxes and fossil fuel subsidies towards a carbon tax. This transition is essential for facilitating the green transition of the domestic economy. Presenting well-defined systems for phasing down coal capacity, coupled with financial commitments, can strengthen India’s position in global climate efforts.
- Pressure on Developed World: India should maintain pressure on the developed world, urging deeper emission cuts and advocating for the sharing of technology and finance. This is crucial for addressing the historical responsibility of developed nations and ensuring a more equitable and collaborative approach to climate action.
- COP27 in Cairo: The outcomes of COP26 have shifted additional pressure onto COP27, scheduled to be held in Cairo. Before this next conference, substantial progress needs to be made in both developing and developed nations to ensure the success of COP27. Concrete actions, especially in the context of emission reduction, financing, and technology sharing, will be pivotal in advancing the global climate agenda.
FAQs: THE GLASGOW CLIMATE PACT
1. What is the Glasgow Climate Pact (GCP)?
- The Glasgow Climate Pact (GCP) is an agreement endorsed by 196 parties during the COP26 climate change conference in Glasgow. It is characterized by both tangible achievements and unmet expectations, with varying perspectives on its significance.
2. What are the key points of the Glasgow Climate Pact?
- Mitigation: Emphasizes the need for stronger action in the current decade, requiring countries to enhance their 2030 climate action plans by the next year.
- Adaptation: Stresses the importance of adaptation, urging developed countries to double funding by 2025 and establishing a two-year work program on global adaptation goals.
- Climate Finance: Commits developed countries to arrange at least $100 billion annually by 2023, recognizing the inadequacy of existing commitments.
- Burning of Fossil Fuels: Includes language urging countries to reduce reliance on coal and fossil fuel subsidies.
- Net Zero: Commits both developed and developing countries to achieve net-zero emissions.
- Global Carbon Markets: Allows the use of unused carbon credits from the Kyoto Protocol for meeting countries’ first NDC targets.
3. What is the significance of the Glasgow Climate Pact?
- It marks the first explicit recognition of the need to transition away from fossil fuels, with a focus on phasing out coal-based power.
- Acknowledges the critical importance of adaptation and commits to doubling financial support for adaptation efforts.
- Represents the first instance of coal being explicitly mentioned in any COP decision.
- India’s announcement of a comprehensive “Panchamrita” of climate actions adds a unique dimension to global commitments.
4. What are the concerns with the Glasgow Climate Pact?
- Climate Finance Commitment: Doubts about the feasibility of delivering on the climate finance pledge, especially amid a post-pandemic global economic slowdown.
- Insufficient Climate Finance: Lack of explicit addressing of estimated financial needs for developing countries, raising concerns about meeting funding requirements.
- Loss and Damage Coordination: The demand for a standalone facility to coordinate loss and damage activities was not met, impacting the meaningful flow of funds.
- Voluntary Targets: Concerns about the voluntary nature of new targets without a compliance mechanism or penalties for non-compliance.
- Lack of Specificity on Net Zero Measures: Uncertainty due to the absence of detailed and specific actions from many countries regarding their net-zero commitments.
5. What is the way ahead after the Glasgow Climate Pact?
- Active Push for Financing Agenda: Developing countries, including India, should advocate for the financing agenda at CoP-27 in Egypt for effective climate action.
- Transition to Carbon Tax: India should develop a clear strategy for transitioning from fuel taxes to a carbon tax, facilitating a green domestic economy.
- Pressure on Developed World: India should maintain pressure on developed nations for deeper emission cuts, technology sharing, and equitable collaboration.
- COP27 in Cairo: Substantial progress is needed in both developing and developed nations before COP27 in Cairo for the success of global climate efforts.
In case you still have your doubts, contact us on 9811333901.
For UPSC Prelims Resources, Click here
For Daily Updates and Study Material:
Join our Telegram Channel – Edukemy for IAS
- 1. Learn through Videos – here
- 2. Be Exam Ready by Practicing Daily MCQs – here
- 3. Daily Newsletter – Get all your Current Affairs Covered – here
- 4. Mains Answer Writing Practice – here
