COP 26: WHAT'S THE BIGGIE?
It’s hard to look at any media over the last week and not see information about COP 26. But what is it and why is it so important? Good question - we’ve got the deats.
WHAT IS COP?
COP (Conference of the Parties) is the ultimate decision-making body of the Convention of countries and regions that comprise the UN (United Nations). Generally speaking, there’s a COP gathering each year with a different country hosting—this year’s gathering taking place in Glasgow UK from October 31 - November 12. Ultimately, the COP 26 summit will bring parties together to accelerate action towards the goals of the Paris Agreement and the UN Framework Convention on Climate Change.
WHAT’S THE GOAL OF COP 26
Broadly speaking, there are 4 major goals of this year’s gathering:
1. 1.5 & NET-ZERO COMMITMENTS (AKA MITIGATION)
Countries are being asked to come forward with ambitious 2030 emissions reductions targets that align with reaching net zero by the middle of the century.
To deliver on these stretching targets, countries will need to:
- accelerate the phase-out of coal
- curtail deforestation
- speed up the switch to electric vehicles
- encourage investment in renewables.
The climate is already changing and it will continue to change even as we reduce emissions, with devastating effects.
At COP26 agreement is needed to work together to enable and encourage countries affected by climate change to:
- protect and restore ecosystems
- build defences, warning systems and resilient infrastructure and agriculture to avoid loss of homes, livelihoods and even lives
3. MOBILIZE FINANCE
To deliver on the first two goals, developed countries must make good on their promise to mobilize at least $100 BILLION (that’s right, with a B) in climate finance per year by 2030.
International financial institutions must play their part and we need work towards unleashing the trillions in private and public sector finance required to secure global net zero.
We can only rise to the challenges of the climate crisis by working together. Therefore countries must:
- finalise the Paris Rulebook (the detailed rules that make the Paris Agreement operational);
- accelerate action to tackle the climate crisis through collaboration between governments, businesses and civil society.
IS THERE A SCHEDULE?
Yup, you bet. If you’re interested to know what the leaders are talking about and when, check-out this schedule.