Nina Chestney

LONDON, (Reuters) – Representatives of nearly 200 countries will gather in Glasgow, Scotland from October 31 to November 12 to discuss climate issues and strengthen global action under the 2015 Paris Agreement.

This conference, which is taking place amid severe weather conditions around the globe and after a United Nations report on climate change that warns of global warming’s imminent spiral out of control will be decided by the government actions.

Below are some issues that must be solved:

EMISSIONS CUTS PLEDGES

Paris was the first place where countries agreed six years ago to curb greenhouse gas emissions. This would limit global warming to 1.5C or 2C. Emissions must be reduced by 50% by 2030 to reach net-zero at mid-century.

Due to last year’s coronavirus epidemic, the U.N. conference has been postponed. This year, countries have until December 31st to increase their emissions reduction pledges. These are called nationally determined contributions (or NDCs).

U.N. analyses of revised and new NDCs received by July 31 showed that the 113 countries involved would collectively reduce their emission levels by 12% compared with 2010 levels.

However, the NDCs from all 191 Parties to the Paris Agreement equates to an 16% increase of greenhouse gas emissions by 2030 as compared with 2010, the Paris Agreement stated.

Around 120 countries have submitted updated NDCs to date, however there are a few gaps in consistency and no set timeframes for the realization of pledges. Comparability is difficult because there are many approaches to the NDCs.

Also, negotiators must agree upon common timelines to reduce future emission cuts.

China, India (and Saudi Arabia) are the major emitters of greenhouse gases. However, they haven’t yet submitted strengthened NDCs to this conference known as COP26.

FINANCE

In 2009, the developed world agreed to fund $100 billion per year to assist developing nations in coping with climate change.

The latest data, however, from the Organisation for Economic Co-operation and Development, (OECD), shows that developed nation’s governments have raised $79.6 Billion for vulnerable countries in 2019. This is 2% more than the $78.3B in 2018.

Experts warn that if rich countries fail to meet the $100 billion per year target, this could cause distrust in climate negotiations. A new financial goal must be set for 2025.

DAMAGES AND LOSS

Although governments agreed to tackle the impacts of climate change upon developing countries, it is not clear if there will be any compensation or liability.

Although a platform has been established to allow technical assistance for countries that are vulnerable, the developing world wants a stronger mechanism to incorporate financing.

FOSSIL FUELS

Alok Sharma (UK COP26 President) has stated that he would like this conference to end coal power.

Although the U.N. calls for the elimination of coal in OECD countries by 2030, environment ministers of Group of 20 large economies failed to reach an agreement on a timetable.

Article 6

The Paris Agreement’s Article 6, covering the role and responsibilities of carbon markets has been in limbo since its signing. It was not resolved at the 2019 talks.

To avoid double counting of emission reductions, the article advocates for robust accounting. This article also proposes establishing a U.N. system to exchange carbon credits derived from low-carbon projects.