January 24, 2022

Climate Change News

Saving The Planet

“Existential challenge”: draft G20 climate statement commits to 1.5C target – report | G20

A draft G20 statement says global leaders who are meeting for talks in Rome will pledge to take urgent action to reach the goal of limiting global warming to statement, which was seen by Reuters and is subject to…

A draft G20 statement says global leaders who are meeting for talks in Rome will pledge to take urgent action to reach the goal of limiting global warming to 1.5ºC.

The statement, which was seen by Reuters and is subject to negotiations and changes, indicates that the 20 richest countries in the world are on track to commit this weekend to tackling the existential threat of climate change, paving the way for more detailed action at the UN Cop26 Climate. summit change next week.

They will then head to Glasgow, Scotland, for the crucial United Nations meeting of nearly 200 countries.

The historic 2015 Paris agreement committed signatories to keeping global warming “well below” 2 degrees above pre-industrial levels, and preferably at 1.5 degrees.

Since then, as extreme weather events have intensified and carbon levels in the atmosphere have risen, climate scientists have increasingly stressed the importance of a 1.5-degree limit for limit the risk of environmental catastrophe.

“Responding to the call of the scientific community, noting the alarming reports of the IPCC [Intergovernmental Panel on Climate Change] and given our leadership role, we are committed to meeting the existential challenge of climate change, ”said the draft, which could still be changed.

“We recognize that the impacts of climate change at 1.5 degrees are well below 2 degrees and that immediate action needs to be taken to keep 1.5 degrees within reach,” the G20 said.

“We recognize the key relevance of achieving zero global net greenhouse gas emissions or carbon neutrality by 2050,” the statement said, referring to a recommendation from UN climate experts who say the deadline mid-century is crucial to meeting the 1.5-degree warming limit.

However, the 2050 date appears in the draft in parentheses, indicating that it is still subject to negotiation.

Some of the world’s largest polluters say they can’t reach the 2050 target date, and China, by far, the largest carbon emitter, is aiming for 2060.

The G20 bloc, which includes Brazil, China, India, Germany and the United States, accounts for more than 80% of the world’s gross domestic product, 60% of its population and an estimated 80% of global greenhouse gas emissions.

The G20 reaffirmed its commitment to “phase out and streamline” fossil fuel subsidies by 2025 and to curb coal energy, considered the main culprit in global warming.

Leaders said they would “do everything possible” to prevent the construction of new non-stop coal-fired power plants, adding the phrase “taking into account national circumstances,” which is commonly used to avoid firm commitments.

According to the draft, leaders said they would end the public finances of overseas coal-fired power plants later this year and aim for a “largely decarbonised” electricity system in the 2030s.

They also pledged to reduce their collective emissions of methane, a much more potent but less durable greenhouse gas than carbon dioxide, “substantially” by 2030. That deadline is also in parentheses.

The willingness of developed countries to help fund the ecological transition of the poorest, known as “climate finance,” is likely to be crucial to the success of the G20 and the Glasgow summit.

“We emphasize the importance of fulfilling the joint commitment of developed countries to mobilize $ 100 billion annually from public and private sources by 2025 to meet the needs of developing countries, in the context of significant mitigation and transparency actions in implementation “, said the draft. .

The richest countries agreed in 2009 to set up a $ 100 billion annual fund to help transfer technologies and minimize climate risks to the developing world, but progress has been slow.

Alok Sharma, chairman of the Cop26 conference, said this week that he expected the fund to be available in 2023, three years later than expected, and many developing nations are reluctant to commit to accelerating their emission reductions until let the rich keep their promises.

A Chinese environmental official said Wednesday that this was “the biggest hurdle” for advancing climate talks.

The G20 draft calls in parentheses for “additional funding for the climate,” suggesting that there are still many negotiations to be done on this issue.

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