What are the results of COP26?
Recognizing the benefits of science, the need to stay on track to keep global warming to 1.5°C between now and the end of the century, and the pressing need to take action in this decade, COP26 produced progress in three areas.
COP26 marked a global scale-up of commitments in terms of mitigation:
- Of the 193 Parties to the Paris Agreement, 156 submitted new or increased nationally determined contributions (NDCs), covering 83% of global greenhouse gas emissions. The European Union committed to reduce by at least 55% its net greenhouse gas emissions by 2030 and to reach carbon neutrality by 2050. France is using its Presidency of the Council of the European Union to implement this ambition through the “Fit for 55” legislative package.
- Among other Glasgow Climate Pact measures, a work programme on mitigation aiming to increase ambitions and accelerate the application of corresponding measures will be established by the Parties.
- For the first time in a UNFCCC document, the mention of fossil fuels and the phasing out of coal has been accepted by the Parties.
There was a particular focus on climate change adaptation, meaning measures aimed at adjusting to climate change and its consequences. COP26 led to the adoption of the Glasgow Dialogue on finance for loss and damage, referring to damage caused by anthropogenic climate change.
During COP26, new financial commitments were made to double the proportion of financing dedicated to adaptation in developing countries by 2025 (compared to 2019 levels). The French President pledged to increase France’s climate finance to €6 billion per year from 2021 to 2025 and to dedicate a third of that (€2 billion) to adaptation. France has doubled its commitment to the Green Climate Fund for the period 2020-2023, bringing it to €1.5 billion.
COP26 finalized the Paris Agreement application rules, in particular with the setting up of an international carbon market and a common reporting framework on the progress made by States Parties to the Paris Agreement.
Several initiatives and announcements
Several declarations were signed on issues that France is strongly committed to.
- In keeping with the commitments made at the IUCN World Conservation Congress in September 2021, the link between climate change and loss of biodiversity has been further addressed, with the promise of funds ($12 billion) dedicated to forest preservation;
- Oceans are now an essential issue in COP meetings and annual dialogue on oceans will be established. Following COP26, 2022 will be an important year for the preservation of oceans and the recognition of their role in the solution to climate change (especially with the One Ocean Summit in Brest from 9 to 11 February 2022 and a United Nations conference on oceans in Lisbon from 27 June to 2 July 2022);
- In terms of energy, France has joined some twenty countries in signing the declaration on international support to the clean energy transition, which promises to cease all new direct public support to fossil fuel energy projects abroad by the end of 2022.
However, we still have a long way to go to limit warming to 1.5°C. Under its Presidency of the Council of the European Union and looking ahead to COP27, which will take place in Egypt from 7 to 18 November 2022, France will strive to make progress on the implementation of the “Fit for 55” legislative package and the launch of the carbon border adjustment mechanism (CBAM).
Updated March 2022
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