COP26 conclusions: EU role, agreements, and commitments

October ended with the G20 meeting in Rome, where the leaders and heads of state of the world’s major economies met in person for the first time since the start of the pandemic. The leaders of these 20 economies, which account for 80% of global GDP, had three main issues on their agendas: the COVID-19 pandemic, economic recovery, and the fight against climate change. The latter was accompanied, that same weekend, by the release of a UN video in which a dinosaur explained to delegates from each country how “dangerous” global warming is, before the start of the 26th Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC), better known as COP26.

COP26 lasted from October 31st to November 12th, with a last-minute rush to reach a climate agreement. One hundred twenty international leaders and representatives of 200 countries at COP26 used this Conference to complement the Paris Agreement. Although each country has different priorities, they all shared that the decisions adopted should limit global warming to 1.5°C. In this sense, the President of the European Commission, the German Ursula von der Leyen, stated at the end of the Conference that “progress has been made on the three objectives set at the start of COP26: reducing emissions to maintain the limit at 1.5ºC; reaching the $100 billion a year in funding for the most vulnerable countries; and reaching an agreement on the Paris Agreement”. Von der Leyen’s words hinted at a certain optimism on the part of the European Union (EU) executive, and not surprisingly, as both she and Vice-President Frans Timmermans arrived with numerous commitments to strengthen the continent’s role in the global fight against climate change.

Thus, during these days, the EU presented four parallel commitments to those agreed at COP26:

  • On November 1st, 1 billion euros for the Global Forest Financing Commitment in a five-year plan, a budget five times less than the European budget for the same issue (5.43 billion euros for the period 2021-2027).
  • On November 2nd, the Energy Transition Partnership with South Africa was announced, and the Global Methane Commitment was launched together with the United States, which will be discussed below.
  • Finally, on November 9th, Timmermans announced the donation of 100 million euros to the Climate Change Adaptation Fund, the largest contribution made by any COP26 country to the Fund.

However, it was not the commitments presented by the EU that were the focus of the debate, but the agreements adopted by the majority of countries. This resulted in the adoption of 22 decisions, which concluded with the publication of the Glasgow Climate Pact with 71 points, divided into eight chapters (I Science and urgency; II Adaptation; III Adaptation finance; IV Mitigation; V Finance, technology transfer and capacity-building for mitigation and adaptation; VI Loss and damage; VII Implementation; VIII Collaboration), all of which are non-binding. The most prominent are the following:

Global warming and emission reductions

It was agreed to set a meeting next year to continue monitoring greenhouse gas emissions with the aim of trying to keep the temperature increase to within 1.5ºC. Given that current pledges, if met, would only limit global warming to about 2.4°C, this is far short of the 1.5°C scientists have set to avoid a “climate catastrophe.” Countries are also asked to update their carbon reduction targets for 2030, as many arrived at COP26 with outdated data.

Use of coal and fossil fuel subsidies

There was general agreement on calling for a gradual reduction in “the burning of coal for energy production and the subsidization of fossil fuels.” Although the measure is an appeal, in more than 40 countries, including significant coal consumers such as Poland, Vietnam, and Chile, it is the first time that coal burning has been explicitly mentioned as a cause of global warming.

G77 funding

Developed countries’ contribution to the collective share of funding is doubled to reach the target of $100 billion per year by 2021-2025. The Fund, from which the G77 countries, which include most developing countries in the southern hemisphere, benefit the most, is also expected to be “significantly increased.”

However, another fund under negotiation, the so-called “Loss and Damage fund,” was not reflected in the published text, which the G77 and China complained about.

Methane emissions

Although when talking about atmospheric emissions and greenhouse gases, the most present is carbon dioxide (CO2) and, to a lesser extent, nitrogen oxides (NOx) emitted by diesel engines, another gas that usually goes unnoticed. However, methane (CH4) has been the current protagonist. In this regard, more than 100 countries, including the entire EU, have signed up for a commitment to reduce methane emissions by 30% by 2030.

This commitment has been widely reported in the media because it is the first time that it has been expressly mentioned and because of the main focus of methane emissions, since one-third of the total comes from livestock farming (manure and animal flatulence).

Deforestation

This was the first of the commitments presented by British Prime Minister Boris Johnson to end deforestation and reverse it by 2030. In the words of the British Premier, “We have to stop the devastating loss of our forests,” which causes millions of tons of emissions per year and reforest deforested areas to capture more carbon.

Although it is not the amount agreed upon – €1 billion of funding in a five-year plan – that is striking, it is the fact that China, Russia, and Brazil, the latter much criticized for its policies in the Amazon and countries that did not join the previous forestry commitment agreed in New York in 2014, have joined.

U.S.-China Joint Glasgow Declaration

This point perhaps deserved a separate analysis from the commitments made at the Summit, but it was the icing on the cake that many did not expect. The joint declaration between the United States and China, the world’s two biggest CO2 emitters, which against all odds signed a 16-point document two days before the end of COP26 committing to further cooperation over the next decade.

On the US side, it reaffirms the U-turn of Joe Biden’s administration from his predecessor, Donald Trump. And, on the Chinese side, a policy shift in China, which until now has been reluctant to address its own emissions from burning coal.

Thus, COP26 came to an end. Thirteen days, more than 170 meetings open to the public, and hundreds of private sessions concluded with a non-binding pact that sets a precedent for what will be the main climate policies between now and 2030. It remains unknown how countries will implement it within their borders and whether progress will achieve the goals. This will be addressed at the next Summit, the COP27, to be held in Egypt in 2022.

Mateo González, EU Public Affairs Consultant 

Serendipia Newsletter

Keep abreast of all the news ATREVIA and trends in the world of communication
Subscribe

Where are we

Spain Portugal Brussels Argentina Bolivia Brazil Chile Colombia Ecuador Dominican republic Mexico Miami Panama Paraguay Peru

Madrid

C/ Arturo Soria, 99

28043 - Madrid

Tel. (+34) 91 564 07 25

madrid@atrevia.com

Tell us

Barcelona

Trav. de les Corts, 55

08028 - Barcelona

Tel. (+34) 93 419 06 30

barcelona@atrevia.com

Tell us

Valencia

C/Cirilo Amorós, 68

46004 - Valencia

Tel. (+34) 96 394 33 14

valencia@atrevia.com

Tell us

A Coruña

Avenida de Buenos Aires, 5-6

15004 - A Coruña

Tel. (+34) 881 255 363

galicia@atrevia.com

Tell us

Lisbon

Avda. da Liberdade, 157

1250-141 - Lisbon

Tel. (+351) 213 240 227

lisboa@atrevia.com

Tell us

Porto

Rua de Costa Cabral, 777 A

4200-212 - Porto

Tel. (+351) 933 461 279 / (+351) 92 672 82 92

porto@atrevia.com

Tell us

Brussels

Rue de Trèves 49-51 à 1040

Etterbeek - Brussels

Tel. (+32) 2511 6527

bruselas@atrevia.com

Tell us

Buenos Aires

Moreno 502

Ciudad Autónoma de Buenos Aires - CAPITAL FEDERAL

argentina@atrevia.com

Tell us

Santa Cruz

Santa Cruz - Bolivia

Tel. (+591) 67155444

bolivia@atrevia.com

Tell us

Sao Paulo

Av. Ibirapuera, 2120, Cjto. 134

Sao Paulo – Brasil

Tel. (+55) 11 000718080

brasil@atrevia.com

Tell us

Santiago

Alcantara 200 304

Las Condes Santiago - Chile

Tel. Las Condes Santiago - Chile

chile@atrevia.com

Tell us

Bogota

Cra 15 # 88-21. Torre Unika Virrey. Oficina 602

Bogota - Colombia

Tel. (+57) 3506614527

bolivia@atrevia.com

Tell us

Quito

Avda. Amazonas 3123 y Azuay. Edificio Copladi. Piso 8

Quito - Ecuador

Tel. (+593) 987164389

ecuador@atrevia.com

Tell us

Guayaquil

Edificio Sky Building. Oficina 423

Ciudadela Bahía Norte Mz 57 - Guayaquil

Tel. (+593) 987164389

ecuador@atrevia.com

Tell us

Santo Domingo

Regus Santo Domingo. Roble Corporate Center. Planta 7

Rafael Auusto Sánchez 86, Piantini – Santo Domingo

rd@atrevia.com

Tell us

Mexico City

Enrique Wallon 414. Piso 2. Col. Polanco V sección, Alc. Miguel Hidalgo

11580 - Mexico City

Tel. (+52) 55 5922 4262

mexico@atrevia.com

Tell us

Miami

Brickell Key Drive 602

FL 33131 - Miami

usa@atrevia.com

Tell us

Panama

Banistmo Tower. Planta 10. Aquilinio de la Guardia St.

Marbella - Panama

panama@atrevia.com

Tell us

Asunción

Capitán Solano Escobar 294

Asunción - Paraguay

paraguay@atrevia.com

Tell us

Lima

Av. Camino Real Nº456 Oficina 1003-1004

Torre Real, San Isidro - Lima

Tel. (+51) 652-2422

peru@atrevia.com

Tell us