Climate Strategies at COP26
On Saturday, 13th November 2021, governments reached a deal at the UN Climate Change Conference (COP26) in Glasgow. Reactions have been mixed. While some hail the summit as a real chance to keep 1.5°C alive, others criticize the watered-down language on phasing out coal and loss and damage financing.
More important than the text agreed by negotiators in Glasgow is what governments, businesses and other decision-makers will do concretely in the next few years of this decisive decade. Systemic change and transitions in areas such as energy, heavy industry and the financial system are needed.
Climate Strategies and our members and partners will continue to create the evidence and co-create recommendations for policymakers to accelerate climate action.
Concretely, our projects and members support the implementation of key aspects of the Glasgow Climate Pact:
1. Just Transition
The agreement refers to the significance of a just transition several times. It is a theme running like a red thread through our projects. For several years, our members and partners have been investigating and proposing solutions for a just transition in the EU, Western Balkans and Ukraine, and finally in Russia (also look at this side event and our latest project).
We also know that a just transition entails tailored measures for specific countries and regions. That’s why we discussed this vital topic at COP26 and partnered with nine research organisations around the globe to examine what just transition means in selected developing countries.
2. Increased ambition to accelerate the clean energy transition
The Glasgow Climate Pact also makes clear reference to the ambition of limiting global warming to 1.5°C and the need of all parties to increase their efforts to reduce emissions. This will not happen without unprecedented transformations of vital parts of our economies, for example the energy system.
Launched at COP26, the new flagship report of the EEIST project proposes a new framework based on assessing risks and opportunities when it comes to deciding on climate policies. By embracing this new framework, policymakers can unlock faster progress in the low-carbon transition.
Speaking of increased ambition, you can’t ignore oil and gas. The IEA was crystal clear earlier this year – to keep the world on track for 1.5°C, governments need to stop investing in new oil and gas fields this year. Our Oil and Gas Transitions initiative, which we co-lead with Stockholm Environment Institute, analyses how an oil and gas transition could take shape in Norway, Denmark and the United Kingdom. At COP26, the project published new reports summarizing the state of the transition in all three countries. The goal is to co-create feasible and just scenarios for phasing out oil and gas in the North Sea region by 2050 – and blueprints to inspire other producing countries to start planning for a managed transition.
The issue of climate finance including support for adaptation and loss and damage featured prominently in the negotiations. The agreed text calls on developed countries to live up to their promise of at least USD 100 billion climate finance a year.
One of our side events looked at the changes needed to transform the global financial system to unlock more (private) finance for green infrastructure investments in developing countries. For a quick summary of the proposed circle of trust between key financial decision-makers, look at this short paper.
Similarly, the SNAPFI project led by Climate Strategies partner DIW Berlin investigates how developing countries can effectively use climate finance to accelerate domestic climate action, both in terms of mitigation and adaptation.
Finally, the Glasgow Climate Pact also emphasizes the importance of collaborative action on technology development and transfer.
Projects such as C4U and NET-RAPIDO respond to this need, easing a dialogue on societal, policy and economic challenges that might affect the development of carbon capture, use and storage as well as carbon removal technologies.
Browse through the list of events below to watch the recordings of our events at COP26.
Our events during COP26
Watch the recordings of events we helped organise at COP26 in Glasgow.