More than 110 nations covering 85 percent of the world’s forests announced renewed commitments to end deforestation by 2030.
Around USD19.2 billion from government and private sectors were pledged to protect the world’s remaining forests.
In addition, the United States, the United Kingdom, and three other countries promised US$1.7 billion to support initiatives by Indigenous Peoples for forest conservation and protecting their rights. The Philippines is not a part of these commitments.
An alliance of more than 90 countries, which accounts for 45 percent of global methane emissions, committed to reduce methane emissions by at least 30 percent from 2020 levels by 2030.
While the United States is involved, China, India, and Russia opted to not engage in this commitment. The Philippines is not a part of these commitments.
More than 40 nations committed to phase out coal-fired power plants between 2030 and 2040. Canada and South Korea, as well as our ASEAN neighbours Indonesia and Vietnam, are among those pledging to pave the end of the era of coal within their areas. The Philippines is not a part of these commitments.
Will these new pledges reduce GHG emissions?
Limiting global warming to 1.5 C requires a 22 Gt decrease in CO2 emissions by 2030, compared to the current trajectory. These new commitments would result in a decrease by 9 Gt, with 3 Gt as a result of new national commitments, and 3.5 Gt avoided if deforestation is ended as promised.
The new pledges at COP26 are NOT ENOUGH to solve the climate crisis!
Key issues in COP26 Week 2
- Finalizing the rules for implementing the Paris climate agreement.
- Resolving the issue on carbon markets and how they would affect reducing emissions.
- Bolder commitments for developed countries to provide climate finance to vulnerable nations such as the Philippines.