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Article

5 Nov 2021

Author:
Ehsan Masood & Jeff Tollefson, Nature

COP26: Scientiests say methane pledge is significant & financial sector pledges are a game-changer

"COP26 climate pledges: What scientists think so far", 05 Nov 2021

Nations have promised to end deforestation, curb methane emissions and stop public investment in coal power. Researchers warn that the real work of COP26 is yet to come... The first few days of the 26th [UN] Climate Change Conference of the Parties (COP26) have seen a flurry of announcements from world leaders... — from plans to phase out public finance for coal-fired power, to a pledge to end deforestation... One of the key developments in the first week was an agreement to curb emissions of methane, a powerful greenhouse gas... Led by the United States and the European Union, the global methane pledge seeks to curb methane emissions by 30% by 2030, and has been signed by more than 100 countries....‘Well, a 50% reduction in the methane emissions by 2030 would be even better,’ but it’s a good start,” says Tim Lenton, who heads the Global Systems Institute... Biden [announced] a new regulation to curb methane emissions from the oil and gas industry... [India's Modi]... captured the world’s attention... by announcing that his country would seek to achieve net-zero emissions by 2070... [S]cientists say the announcement could mark a significant step forward if India follows through... India’s commitment includes measurable near-term targets... [C]limate-finance announcements... is a pledge from more than 450 organizations in the financial sector... in 45 countries to move US$130 trillion of funds under their control into investments where the recipient is committed to net-zero emissions by 2050... Governments also announced new investments in clean technologies... “The involvement of the financial sector and of ministers of finance and energy” in the meeting “is a game-changer”...

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