The Conference of Parties (COP) is a well-known annual event that sees nations come together to discuss measures to reduce anthropomorphic global warming and steps to tackle Climate Change.
The United Kingdom hosted the 26th UN Climate Change Conference of the Parties (COP26) in Glasgow on 31 October – 12 November 2021.
Why is COP26 important?
A first version of the guidelines, known as the ‘rulebook’, was worked out in past meetings, but so far countries have been unable to agree on important points. These include how to trade emissions reduction tokens, making sure that they are not ‘double counted’, budgeted for by both the selling and buying party. While this may seem like a technicality, the success of the Paris Agreement depends on whether such details are ironed out at COP26 or not.
India at COP26?
India is the 3rd largest emitter in terms of net emissions whereas it has the lowest per capita emission among the major economies of the world (17% of the world population emitting just 5% of total).
India has announced its net-zero targets in COP26 s accordance with the Paris agreement of 2015.Under the Paris agreement, countries were bound to submit carbon-cutting plans and updates by the end of 2020.
India’s 5 point pledge or Panchamrit:
✔ Net-zero by 2070
✔ To increase its non-fossil fuel energy capacity to 500 GW by 2030.
✔ Increase the share of renewables in the energy mix to 50% by 2030.
✔ Reduce the emissions intensity of its economy by 45%.
✔ Reduce emissions by 1 billion tonnes of CO2.
India also supported the Africa Group’s demand for $1 trillion in climate action that the developed countries should make available for climate action in developing nations.
