Stock Groups

Why Glasgow is drawing parallels to Copenhagen

On November 4, 2021, delegates arrive in bright sunlight at Energy Day, the COP26 climate summit, at the SEC, Glasgow, Scotland.

Getty Images News | Getty Images News | Getty Images

GLASGOW, Scotland — U.N.-brokered climate talks in Scotland’s largest city have been compared to a summit held in Copenhagen over a decade ago that ended in disarray. This is an early evaluation of one the most significant diplomatic meetings of history.

A large number of world leaders, delegates from nearly every country, gathered in Glasgow, U.K. for discussions aimed at controlling climate change.

The mood at COP26 is mixed less than a week in. Positive developments include pledges to stop and reverse deforestation and a deal that will reduce methane emissions by 30% by 2030. There are also new commitments to eliminate coal-fired power.

The summit’s success will ultimately hinge on the ability of countries and businesses to keep the 1.5 degree Celsius target alive. This temperature threshold is critical and refers to landmark 2015 Paris Agreement.

According to experts, it is difficultTo see the ways that COP26 will help steer the world towards 1.5 degrees Celsius, click here

Are there crossovers between the COP15 or COP26 conferences?

Asad Rakhman, a spokesperson of the COP26 coalition (a U.K. civil society representing indigenous communities frontline activists and grassroots campaigns in the global south), told CNBC that he was impressed by the similarities between the meetings in Glasgow and those in Copenhagen.

A lot of people consider Denmark’s 2009 climate summit to be a disaster. Many nations were critical for not taking the required action in order to combat the crisis.

Rehman explained that “there are obviously already parallels in it being a cold and wet northern European capital.” There are more significant comparisons.

German Chancellor Angela Merkel (C), talks with Jose Manuel Barroso, president of European Commission (L), Sweden’s Prime Minister and Standing President of the European Council Fredrik Reinfeldt (R), French President Nicolas Sarkozy and US President Barack Obama during the last night of UN Climate Change Summit in Copenhagen, Denmark, December 18th 2009.

Getty Images News | Getty Images News | Getty Images

Rehman noted that Copenhagen was viewed as the last hope for humanity to stop the worst consequences of climate change. Rehman said that both summits were too expensive for the global South, due to a dearth of affordable housing and “locked-out” civil society groups.

The U.K. presidency of COP26 had promised to make the Glasgow summit “a success.”the most inclusive COP everCampaigners rejected requests for support of the event to be postponed again. However, they stated that additional safety measures would be taken to reduce concerns regarding safety and inclusion at the event.

Rehman pointed out that the meeting in Copenhagen and Glasgow was preceded by an announcement from the new president of the United States, “America is now!”back at the tableTo lead in climate change. His comments also included similarities between how Obama and Joe Biden gained the U.S. to the Kyoto Protocol. back into the landmark Paris Agreement

At COP15 2009 in Paris, where talks focused on limiting global heat to 2 degrees Celsius higher than preindustrial levels, G-77 chair, a group made up of high-income nations and developing countries, rejected the proposal of high-income nations.

Policymakers and activists for climate change were united in 2021 to urge the world to not compromise on 1.5 degree Celsius. They warned that exceeding this temperature would be akin “akin to a death sentence.”a death sentenceFor many countries.

Twelve years ago, Denmark was the first country to pledge $100 billion per year for low-income nations by 2020. a promise that remains unfulfilled in Glasgow. Rehman stated, “Both COPs” were held following economic crises in rich countries that had seen them invest trillions to save their economies. This refers to both the 2008 financial crisis (and the coronavirus pandemic).

Rehman explained that “I find it an uncanny time in terms the politics and organizational ineptitude as well as the context in which they take place.” He said that COP15 was different from COP26 because a new generation in climate justice movements in global north had a greater understanding of the causes and consequences of the crisis. It is an increased awareness of the demands required,” he stated.

‘One very significant parallel’

CNBC interviewed Jason Hickel who is an economic anthropologist at London School of Economics and a senior fellow there. He also said that he saw similarities between the Copenhagen and Glasgow COOPs.

Hickel noted that “to me, this was really problematic”, pointing out frustration among campaigners at the Glasgow summit’s exclusionary nature.

I think we need to be cautious about how leaders speak at the COP. It is easy to make statements. As far as I’m concerned, if they were serious then they would make sure that they have their critics in these spaces to challenge and hold them accountable – and I don’t see that happening,” Hickel said.

“These COPs can be like PR spin games,” said he.

Many people disagree with the claim that the Glasgow summit bears a striking resemblance the Copenhagen conference. However, some are optimistic about climate talks.

“I see one parallel, one very significant parallel, which is really serious, and that is the same bad quality of coffee — but that’s the only one,” said Johan Rockstrom, director of the Potsdam Institute for Climate Impact Research and one of the world’s most influential Earth scientists.

Rockstrom suggested that one lesson to be learned from Copenhagen was for host nations to provide comfortable environments to all delegations. Rockstrom said, “I think Glasgow hasn’t really taken that seriously enough.”

“The rest I totally disagree with … In Copenhagen, it was perceived as a big environmental problem that needed to be solved. “Permanent.”

He said, “What helped us to succeed in Paris is that it wasn’t an environmental problem anymore that had to be solved. It was a major systemic issue for the global economy. This meant that both businesses and cities were available to help.” Then you go to Glasgow, and that is even farther down the line. “Now we’re so far down the line, I can guarantee you that discussions in Glasgow don’t focus on whether or not there is a problem. It doesn’t matter if we solve it or not. The question is whether or whether we get it done quickly enough.

“The question is now is well beyond the discussions in Copenhagen … and so I see very few analogies to go on,” Rockstrom said.

CNBC Pro offers more information on clean energy

Patricia Espinosa was the UN Framework Convention on Climate Change’s executive secretary. She told Steve Sedgwick on CNBC that she is “really encouraged by” the progress in Glasgow.

Espinosa explained, “Of course we are coming to this conference bearing the clear message of the fact that our emissions figures are not good.” This means that it is essential that we leave this conference with clear understanding of how we will move forward.

CNBC’s Micheal Martin, the Irish Prime Minister, spoke to CNBC this week and expressed his optimism about the progress in Glasgow. Martin spoke to CNBC’s Steve Sedgwick Tuesday, saying that he believes there is a strong momentum in the area of climate change.

His statement was “With major commitments by both individual countries and collectively, it was very loud yesterday at the opening.” Martin acknowledged that more work would be needed in the area of climate finance.[We need to see]”Concrete reality to the promises around finance,” he stated.

Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.