What happened?
On 31 October, COP 26- the UN Climate Change Conference began Glasgow, United Kingdom. It is being hosted by the UK in partnership with Italy and will culminate on 12 November. The UN Secretary-General Antonio Guterres remarked: "We face a stark choice: either we stop it- or it stops us. It is time to say enough."

On 2 November, Global Methane Pledge was signed by 103 countries; it aims to reduce human-induced methane emissions by at least 30 percent. On the same day, around 110 countries committed to the UK-led Declaration on Forests and Land Use, which aims to halt and reverse deforestation and land degradation by 2030.

On 3 November, the Glasgow Financial Alliance for Net Zero or GFANZ (created jointly by the UN and COP26 presidency in April 2021), pledged to commit to the Paris Agreement's provisions. The alliance of more than 450 banks, insurance companies, and asset managers has committed to achieving net-zero emissions by 2050.

On 4 November, the Global Coal to Clean Power Transition Statement was announced. It calls for phasing out coal power by 2030 in the case of major economies and by 2040 for poorer countries. Over 45 countries have signed the Statement to date. Twenty countries, including Canada and the US, committed to halting financing of fossil fuel projects abroad.

On 4 November, the UNEP released the sixth edition of the "UNEP Adaptation Gap Report: The Gathering Storm." It talks about the glaring gaps between the Global South and North in terms of the cost of climate adaptation. Inger Andersen, Executive Director of the UNEP commented: "…those in poorer countries are going to suffer the most, so ensuring that there is a degree of equity and a degree of global solidarity for adaptation finance is critical."

What is the background?
First, the importance of the conference and its timing. The planet faces an impending climate crisis while it deals with intense disasters year after year. Frequency, intensity, and compounding of disasters are crucial concerns. The recent IPCC report released in August shows that many changes that the planet has undergone due to the GHG emissions are irreversible. This is particularly applicable to the changes in oceans, ice sheets, and global sea level.

Second, the importance of methane. Methane is a GHG that is more powerful than carbon dioxide, though it is short-lived in the atmosphere. While methane is emitted naturally, human activities are responsible for about 60 percent of the emissions. The GHG is also responsible for global warming since industrialization (The Hindu). The Global Methane Pledge that was initially announced in September by the US and European Union has now become a part of the COP26 commitments.

Third, the deforestation pledge. Loss of green cover is a major concern, as the planet loses approximately 27 football fields of forest every minute (The WWF). The Declaration on Forests and Land Use builds on the New York Declaration of Forests- 2014, which directs the governments, business houses, and civil society to halve deforestation in tropical areas by 50 percent and halt it by 2030.

Fourth, the controversy of carbon credits and offset. This has been a bone of contention since the Kyoto Protocol and remains unresolved to a large extent. The GFANZ is being criticized for encouraging offsets to reach the set target, which in reality allows them to continue to pollute. Additionally, the Alliance does not prevent financial institutions from funding fossil fuel-based projects.

Fifth, awareness and activism. Leaders, pledges, and their actions are increasingly accountable to civil society. Children and youth have become proactive and are pressurizing the actors to undertake stringent measures. The COP26 is one such example, where activists are holding rallies and demonstrations, criticizing the leaders for faulty policies and promises.

What does it mean?
First, the silence of major economies on key sectors. The 45 countries that signed the statement on phasing out coal, did not include the major coal consumers and producers- Australia, India, China, and the US. China, Japan, and India were also not among the 20 countries committed to halting funding for fossil fuel projects abroad. Asian countries are major funders of such projects. 

Second, high targets. Setting high targets can demotivate an actor and also provoke it to stay away from such agreements in its interest. The pledge on deforestation is unrealistic, given the already existing inequalities in terms of development and climate finance. While development is not necessarily anti-thetical to environment protection, it may not be fair to demand a complete halt of deforestation and reversal, by the developing world. Indonesia's take on the Declaration represents this perspective.

Third, finding a middle ground. The Paris Agreement pushed for maintaining 1.5 degrees Celsius of global warming. The recent IPCC report stated that at the present rate, the world was on track to become warmer by 2.7 degrees Celsius. COP26 tries to find a balance between the two. There was a larger opinion in the conference that restricting global warming to 1.8 degrees Celsius is still within reach. According to the International Energy Agency, the 1.8 degrees limit is achievable, given stringent and timely implementation of the COP26 commitments. Meeting this middle ground will go far in combating anthropogenic climate change.