The acceleration of the global transition to clean energy is the focus of debates at the 26th United Nations Conference on Climate Change (COP26), held in Glasgow, Scotland, this Thursday (4). The expectation is that an agreement will be announced — involving at least 20 countries — to stop financing fossil fuel projects.
Nationally, attention will be focused on the meeting of Prince Charles with Brazilian governors. At least two governors must attend the meeting: Helder Barbalho (MDB), from Pará, and Renato Casagrande (PSB), from Espírito Santo. This Wednesday (3), the CNN reported the governors’ articulation for the meeting.
On Thursday’s agenda, the events will discuss changes to clean energy and the end of the use of coal, focusing on the transition from fossil fuel to renewable energy — generated without the emission of pollutants — in a more accessible way to countries.
COP26 will feature speeches by energy ministers from the UK, India and around the world. The expectation is that the authorities will address the recently launched “Green Grids Initiative – One Sun One World One Grid” (GGI-OSOWOG) partnership, which has the ambition to accelerate the development and deployment of modern green grids globally.
Prince Charles and Brazilian governors
The meeting of the Brazilian authorities with the heir to the British throne was confirmed by the British Embassy in Brazil on Wednesday afternoon (3). The meeting takes place in Glasgow.
The debate is part of the Sustainable Market Initiative (SMI) and also includes the launch of the Governors For Climate group, in partnership with Centro Brasil no Clima.
In the official statement from the embassy, it is stated that there will be 11 governors and 10 mayors at the meeting:
“The Prince of Wales participates, this Thursday (4), in the launch of the Investor Forum ‘Race to Zero’ SMI-Brasil, in Glasgow, in the context of COP-26”. “The group is part of the Sustainable Markets Initiative (SMI), chaired by Prince Charles, and aims to accelerate global progress towards a sustainable future.”
At the event, Prince Charles will lead a strategic discussion with Brazilian governors and mayors who have committed to the Race to Zero campaign. The main topics are the challenges and opportunities related to climate change in Brazil, including infrastructure projects with the potential to collaborate in the commitment made to the campaign.
End of fossil fuel financing
At least 20 countries have agreed to end funding for fossil fuel projects abroad, a UK official told CNN American, in an agreement to be announced on Thursday (4).
Another source close to the COP26 climate summit negotiations said that the United States is part of the agreement. However, US State Department officials did not respond to the CNN to confirm country involvement.
Some countries had already agreed to end international financing for coal, but this agreement would be the first to also include oil and gas projects.
Commitment signed for the reduction of methane gas
To reduce gas emissions by 30% by 2030, 103 countries have joined in an effort led by the United States and the European Union (EU). The group of signatories to the “Global Methane Commitment” includes Brazil, one of the world’s five largest emitters of methane.
In the assessment of ambassador Paulino Franco de Carvalho Neto, secretary for Multilateral Political Affairs at the Itamaraty, the goals announced by Brazil at COP26 will require a great effort on the part of the federal government.
We made a very important and ambitious announcement, which is to increase our percentage of reduction in greenhouse gas emissions. We went from 43% to 50%, based on the year 2005. In other words, in 2030, we will have to issue half of what we issued in 2005
Ambassador Paulino Franco de Carvalho Neto, Secretary for Multilateral Political Affairs at Itamaraty
For the specialist, it is possible to reduce 50% of the emission of greenhouse gases before 2030, with effective measures to combat deforestation. “It is a problem that we have to face and, if we face it successfully and contain deforestation, we will certainly reach this goal even with some slack”, he said.
Delivering on the promise could have significant impacts for the energy sector. According to analysts, fixing leaky oil and gas infrastructure is the fastest and cheapest way to reduce methane emissions.
While the United States is the world’s biggest oil and gas producer, the EU is the biggest gas importer. Countries like China, Russia and India, which are among the biggest emitters of methane, have not signed the pledge.
On Monday (1), Environment Minister Joaquim Leite presented Brazil’s goals at the summit, which include a 50% reduction in greenhouse gas emissions by 2030 and the neutralization of carbon emissions by 2050 .
Day 1: Biden apologizes; india makes promises
On the first day of COP26, the President of the United States, Joe Biden, apologized to his fellow world leaders for the fact that the United States withdrew from the Paris Agreement under the Trump administration.
“I don’t think I should apologize, but I do apologize for the fact that the United States – the last government – withdrew from the Paris Accords and put us in a tight spot,” Biden said in Glasgow.
Indian Prime Minister Narendra Modi made headlines on Monday by announcing a net zero emissions target, promising India will become carbon neutral by 2070.
While it was a big announcement, as India has yet to set a date for its net zero ambition, the 2070 target is a decade later than China’s, and two decades later the world as a whole needs to hit it. zero net emissions to prevent temperatures from rising beyond 1.5°C above pre-industrial times.
Day 2: “End of deforestation”
The commitment of more than 100 countries to ending deforestation by 2030 was the highlight of the second day of the summit of the 26th United Nations Conference on Climate Change (COP26), held in Glasgow.
A declaration signed by 105 countries, including Brazil, seals the commitment to collective actions to halt and reverse forest loss and soil degradation by 2030. At the same time, the document highlights the agreement for sustainable development and the promotion of transformations rural areas that are inclusive.
Day 3: Budget cut for fuel and $9 billion for forests
On this Wednesday (3), the third day of COP26, the main theme was financial investment.
Among the topics discussed at the meeting were the cuts in fossil fuel funds, and an investment of US$ 9 billion (about R$ 50 billion) in a fund at the United States Department of State to finance projects for the conservation of forests with developing countries around the world.
On Sunday (31), the G20 countries reaffirmed their commitment to climate finance, which includes providing US$ 100 billion (approximately R$ 568 billion) per year to developing countries by 2025.
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Reference: CNN Brasil
I’m James Harper, a highly experienced and accomplished news writer for World Stock Market. I have been writing in the Politics section of the website for over five years, providing readers with up-to-date and insightful information about current events in politics. My work is widely read and respected by many industry professionals as well as laymen.
