These are the agreements reached after world leaders ended their participation in COP26

About 120 world leaders left the Scottish city of Glasgow this Wednesday, 3 November, having reached historic global commitments in the middle of the 26th edition of the United Nations Climate Conference 2021 (COP26).

Although the main goal of COP 26 is to limit global warming to 1.5°C by the end of the century, important agreements have focused on issues such as deforestation, reducing methane emissions, and agreeing an agenda to advance clean technologies.

In this way, world leaders handed over the baton to negotiators from different countries, who would continue more detailed negotiations until the end of the event on November 12.

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On the first day of COP26, India committed to reducing its net emissions by 2070, with a medium-term goal of installing 500 gigawatts of renewable energy by 2030.

India is the world’s second largest consumer of coal and gets nearly 70% of its electricity from coal.

Brazil and Vietnam have also committed to net zero emissions, but by 2050.

In this way, more than 80% of global emissions will be reduced to net zero within the targets adopted by these three countries.

According to London-based think tank Ember, the world’s 10 largest coal-producing countries — China, India, the United States, Japan, South Korea, South Africa, Indonesia, Russia, Vietnam and Australia — have now committed to the net-zero emissions target. .

On the second day, at least 110 countries pledged to end and reverse deforestation and land degradation by 2030.

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More than 40 countries, including Turkey, the United States, the United Kingdom, Brazil, Albania, Ghana, Ecuador, Indonesia, Russia and Syria have signed a Declaration on Action to End Deforestation by 2030, committing $12 billion in public finances and $7.2 billion. billion dollars in private financing to reach the goal.

The signatory countries represent 85% of the planet’s forests.

These commitments demonstrated for the first time that deforestation and its impact on indigenous peoples and the planet are being taken seriously at the COP, with action from the public and private sectors, including multilateral development banks (MDBs).

However, there is still a long way to go for these commitments to become actions, and transparency mechanisms are needed to monitor these actions.

The statement from the leaders of the High Ambition Alliance (HAC) indicated that developed and developing countries, including the Caribbean and Pacific region, the United States, France, Spain, Germany, Denmark and the Netherlands, have more ambitious targets through selected national contributions, aiming to achieve the 1.5°C target. by COP27.

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They also announced that they would align their economies with the 1.5°C target, and end investment in domestic and international coal energy, as well as fossil fuel subsidies, while pledging $100 billion annually to finance the climate of underdeveloped countries.

The most climate-vulnerable nations have demanded that COP26 agree to a Climate Emergency Pact, a $500,000 million plan they promised by 2024.

An International Clean Technology Plan was also announced with support from more than 40 countries, including the UK, US, India, China and Turkey, to make clean technology more affordable worldwide, with an emphasis on energy, steel, road transport, low carbon, hydrogen and agriculture.

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The steel sector, which accounts for 7% of global emissions, has been included for the first time on the main agenda of international climate negotiations.

Countries representing 32% of global steel production have committed to reducing the sector’s emissions to net emissions by 2030.

Day two of COP26 also saw a global commitment to reduce methane emissions by 30% by 2030 under the Global Methane Commitment.

The United States and the European Union, among the 105 countries that signed the commitment, with the exception of India, China, Russia and Australia, are among the largest emitters of methane.

The signatory nations account for 46% of global emissions and represent nearly 70% of the global economy.

South Africa, one of the countries most dependent on fossil fuels, has received $8.5 billion from the United States, the European Union, the United Kingdom, France and Germany to accelerate the transition from coal to clean energy.

The third day of the Summit will continue with discussions on climate finance.

* Translated by Daniel Gallego.

Anadolu Agency website contains only part of the news stories presented to subscribers on the AA News Broadcasting System (HAS), and in summary.

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