Accelerating Action: A Professional Summary of the 2021 United Nations Climate Change Conference Outcomes.
The 26th Conference of the Parties (COP26), held in Glasgow in 2021, successfully adopted the Glasgow Climate Pact (GCP). This agreement serves as a global framework to speed up climate action, finalize the rules for the Paris Agreement, and strongly confirm the collective commitment to keep global warming to 1.5°C above pre-industrial levels, in line with scientific warnings. The Pact sets up official processes needed to increase national commitments and secure necessary funding for climate action.
The agreement formally confirmed the goal to limit global warming to 1.5°C. Leaders noted with serious concern that human activities have already caused about 1.1°C of warming, resulting in an estimated 100 million people suffering from extreme weather events annually.
The Paris Agreement Rulebook was fully completed, finalizing mechanisms for international carbon markets (Article 6), potentially mobilizing trillions of dollars in climate finance, and the system for transparent reporting (Enhanced Transparency Framework, ETF).
Nations were asked to submit stronger 2030 emissions targets, known as Nationally Determined Contributions (NDCs), by 2022, instead of the original 2025 timeline. This urgent revision process covers 78% of global emissions.
Developed countries were urged to at least double their collective climate finance for adaptation in developing countries from 2019 levels ($29 billion) by 2025. This aims to dedicate 50% of total climate funding to adaptation efforts.
For the first time in a UN climate decision, the text explicitly called for the phasedown of unabated coal power and the phase-out of inefficient fossil fuel subsidies, which totaled over $5.9 trillion globally in 2020. (Source: IMF)
The Global Methane Pledge, an EU-US initiative, gained support from over 100 countries to collectively cut methane emissions by 30% by 2030, which could avoid 0.2°C of warming by mid-century.
The Glasgow Climate Pact includes a series of official decisions adopted by the CMA. It serves as the official global answer to scientific reports, reinforcing the commitment to the 1.5°C warming target set in Paris, reflecting the IPCC's warning that 2°C of warming would displace over 200 million people.
The Pact operates under the rules of the UNFCCC and aims to put Article 2 of the Paris Agreement into full effect. Global CO2 emissions must drop by 45% by 2030 (relative to 2010 levels) to reach net zero by mid-century, stressing action "in this critical decade."
Negotiations involved almost 200 nations, UN bodies, the European Union, global banks, and civil society. The final text was a negotiated compromise, notably concerning the $100 billion annual climate finance goal promised to developing nations.
A key outcome was the establishment of the Glasgow Dialogue, a formal process dedicated to discussing funding arrangements for activities addressing loss and damage associated with the adverse effects of climate change. This acknowledged the severe climate impacts already faced by vulnerable nations.
The Pact called for the immediate operationalization of the Santiago Network for Loss and Damage (SNLD). This network provides technical assistance to developing countries to avert, minimize, and address climate-related impacts that cannot be adapted to.
Context: Loss and Damage refers to the residual, irreversible impacts of climate change (like sea-level rise or mass extinction). While the Pact did not establish a dedicated Loss and Damage fund, creating the Dialogue was a major step toward recognizing the need for dedicated financial and technical assistance for these inevitable impacts.
The Paris Agreement Rulebook was completed, marking the full operationalization of the 2015 accord.
Mandatory deadline for countries to submit stronger Nationally Determined Contributions (NDCs) for 2030 targets.
The year developed countries expressed confidence in meeting the USD 100 billion annual climate finance goal.
Deadline for Parties to submit the first Biennial Transparency Reports (BTRs) under the Enhanced Transparency Framework.
Deadline for developed countries to at least double adaptation finance from 2019 levels.
Target year for the Global Methane Pledge (30% reduction) and the global commitment to halt and reverse forest loss.
Key global bodies and partnerships driving the COP26 outcomes and subsequent implementation include: