Since its first CoP in 1995, the UNFCCC has played a significant role in fighting climate change. The Kyoto Protocol (1997) and the Paris Agreement (2015) have been its major milestones. Recently, CoP-26 was held in Glasgow, where nations took a range of decisions in the collective effort to limit global temperature rise to 1.5°C.
Major Outcomes of COP26.
1. Completion of the Paris Agreement rulebook.
2. Member countries agreed for the Glasgow Climate Pact.
a. Asked nations to strengthen their NDCs.
b. Make efforts to phase-down usage of coal and phase-out inefficient fossil fuel subsidies.
c. Created a two-year work programme to define a 'Global Goal on Adaptation'.
d. Initiated discussions on setting the new target for climate finance, beyond $100 billion for the post-2025 period.
e. Allowed leftover carbon credits under Kyoto protocol to be used in meeting countries’ first NDC targets.
3. Pledge to reverse deforestation by 2030.
4. Global Methane Pledge, to reduce methane emissions by 30% by 2030 (from 2020 levels)
5. Glasgow Declaration on Zero-Emission Cars was signed.
India's commitments: India enhanced its climate commitment under the heading Panchamrit. It includes:
1. Achieving net zero emission status by 2070.
2. Reduce its emission intensity by 45% from 2010 levels by 2030.
3. Ensuring at least 50% of its installed electrical capacity in 2030, through non-fossil-fuel-based energy sources.
4. Achieve 500 GW of non-fossil-fuel-based energy capacity by 2030.
5. Reduce 1 billion tonnes of absolute emissions by 2030.
CoP-26 was a productive conference, but few issues remained unresolved, especially regarding climate finance. The developed countries need to step up their contribution. As far as India is concerned, it needs to chalk out a detailed plan of action so as to achieve the targets within the timeline.