Abstracts
Overview on the COP26
COP26 ended without settling a clear path to meet the goals of the Paris Agreement. The final document signed by nearly 200 countries show commitments to phase-down the use of unabated coal power. It also implements a new framework that allows countries to partially meet their climate targets by buying offsets credits from emission cut by others. There was also progress in efforts to cut methane emissions, to end and reverse deforestation, a carbon-based arrangement on the steel industry between the US and the EU, among others.
Still, more needs to be done, as the world is not yet on the path to keep temperature rise “well below” 2°C, preferably to a safer limit of less than 1.5°C. Climate analysts estimate the world is on track for about 2.4°C of warming versus pre-industrial times, based on current targets and policies.
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