On 13th November the CoP26 concluded with all parties agreed on the Glasgow Climate Pact.
This CoP26 cover decision, among else
“recognizes the importance of the best available science for effective climate action and policymaking;
stresses the urgency of enhancing ambition and action related to mitigation, adaptation and finance in this critical decade to address gaps between current efforts and pathways in pursuit of the ultimate objective of the Convention and its long-term global goal;
recognizes the important role of non-Party stakeholders, including civil society, indigenous peoples, local communities, youth, children, local and regional governments and other stakeholders, in contributing to progress towards the objective of the Convention and the goals of the Paris Agreement”.
For the first time, the text also include reference to phasing down unabated coal power and phasing out inefficient fossil fuel subsidies, while recognizing the importance of the just transition.
The Pact also establishes an annual high-level ministerial roundtable on pre-2030 ambition, and the Glasgow Dialogue between parties on loss and damage, to convene from 2022 to 2024.
Negotiations on the Paris Rulebook were concluded.
The Rulebook contains the Article 6 mechanisms, defining the operation of international carbon markets to encourage global cooperation on emission reductions.
Agreement related to Article 6 on carbon markets will make the Paris Agreement fully operational.
The enhanced transparency framework (ETF) was completed as well. The reporting formats were agreed, enabling parties to submit their first Biennial Transparency Reports under the Paris Agreement in 2024.
In the closing ceremony, Executive Secretary, Ms. Patricia Espinosa pointed out that “Parties built a bridge between good intentions and measurable actions to lower emissions, increase resilience and provide much needed finance. A bridge between the admirable promises made six years ago in Paris to the concrete measures that the scientific evidence calls for and societies around the world demand. Operationalizing Article Six will allow Parties to scale up their cooperation, mobilize additional finance and private sector engagement and ensure that the rules are the same for everyone.”
CoP27 will be organized in Egypt in November 2022.
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