Cop26, Cingolani: Italy enters a 10 billion fund for the climate emergency. Biden: “China’s serious mistake not to show up”

Cop26, Cingolani: Italy enters a 10 billion fund for the climate emergency. Biden: “China’s serious mistake not to show up”
Cop26, Cingolani: Italy enters a 10 billion fund for the climate emergency. Biden: “China’s serious mistake not to show up”

Stop deforestation. This is the great objective of the second and final day of the World Leaders Summit at COP26 in Glasgow, the meeting of the heads of state and government to announce the commitments of their countries for decarbonisation. The issue is also urgent because, as Prime Minister Mario Draghi recalled yesterday, “the increase in emissions that occurred with the resumption of economic activity after the pandemic, we are back to pre-Covid levels is concerned”. On the table, the leaders of the planet are ready to put in funds for 19.2 billion dollars.

The first move is to cut methane emissions by 30% by 2030: a commitment signed by 104 countries as part of the so-called Global Methane Pledge initiative launched at COP26 in Glasgow. The 104 countries that joined represent 70% of GDP.

“We must stop the devastation of the world’s forests” said British Prime Minister Boris Johnson formalizing the international commitment to stop the process of deforestation on the planet by 2030. “We cannot face the devastating loss of habitats and natural species – underlined Johnson. – without tackling climate change. And we cannot tackle climate change without protecting the environment, forests and respecting the rights of the indigenous peoples who are their guardians ”. American President Joe Biden is also on the same wavelength: «Forest conservation is essential. It will have an impact on future generations ”. Also for this reason, the US government has pledged to work with Congress to allocate up to 9 billion dollars until 2030 to conserve and restore forests.

Biden’s press conference

“Young people remind us of our moral obligation. My granddaughter’s generation changed things. We have done a lot here, but we still have a lot to do ”: this is the balance sheet of American President Joe Biden after the COP26 climate conference in Glasgow. “We need to accelerate and focus on infrastructures, including oil ones, so they are safer, and invest in wind and solar. Everyone must contribute “, added Biden, reiterating how with Donald Trump the US in the fight against climate change” had taken a step back while they are starting again today “.

Mistake also committed by China, which according to Biden, was wrong in not introducing itself: «I made it clear to Chinese leader Xi Jinping that the United States is in competition with China, but that this competition must not become a conflict. I’m not worried about an armed conflict ».

Biden, who will soon make the Fed appointments public, said: “The fight against climate change must be an effort of the whole society, it is not only a moral imperative, but also an economic one and will lead to new jobs”.

How does Joe Biden plan to persuade him to vote in Congress on his maxi investment plan against climate change in the face of more lukewarm commitments from China, Russia and India? “Because we want to breathe and the US must lead the world,” was the response of the US president in the closing conference.

The European Union

The EU has pledged one billion euros and the President of the Commission, Ursula von der Leyen, has announced that more than 80 countries have pledged to reduce their emissions of methane, a powerful greenhouse gas, by 30% by 2030 compared to 2020: “It is one of the gases we can reduce fastest”, but it is also responsible for “about 30%” of global warming. An approach shared by 104 signatory countries of the document.

Russia and China

In a video message, Russian President Vladimir Putin explained that “in building a zero-emission economy by 2060, Russia is based, among other things, particularly on the resources available to us, such as forests and their capacity. to absorb carbon dioxide and produce oxygen. After all, our country is home to 20% of the world’s forests ”. Brazilian President Jair Bolsonaro is more cryptic: “We are committed to eliminating illegal deforestation by 2030”.

On the other hand, China is optimistic that an agreement on cutting emissions can be reached. According to the main negotiator of the Beijing government on climate, Xie Zhenhua, an agreement on the rules of the carbon market that fall under Article 6 of the Paris Agreement “can be reached at COP26”.

Developing countries

The countries that sign the agreement cover about 85% of the world’s forests. Some of the funds will go to developing countries to restore damaged land, tackle the plague of forest fires and support indigenous communities. Governments in 28 countries will also work to remove deforestation from the global trade in food and other agricultural products such as palm oil, soy and cocoa. These are among the industries that contribute most to the felling of trees. A $ 1.5 billion fund will also be established to protect the world’s second largest tropical rainforest in the Congo Basin.

The 104 countries

104 countries have so far committed themselves, as part of the so-called Global Methane Pledge initiative, to cut methane emissions by at least 30% compared to 2020 levels by 2030. The countries that have joined represent 70% of world GDP and the initiative aims to keep the temperature rise in the world within 1.5 degrees. These are the countries that have joined the EU: Albania, Andorra, Saudi Arabia, Argentina, Armenia, Barbados, Belgium, Belize, Benin, Bosnia Herzegovina, Brazil, Bulgaria, Burkina Faso, Canada, Central African Republic, Chile, Colombia, Republic Congo, Cameroon, Costa Rica, Ivory Coast, Croatia, Cyprus, Democratic Republic of Congo, Denmark, Djibouti, Dominican Republic, Ecuador, El Salvador, United Arab Emirates, Estonia, Ethiopia, Fiji, Philippines, Finland, France, Gabon, Gambia, Georgia, Germany, Ghana, Jamaica, Japan, Djibouti, Jordan, Greece, Grenada, Guatemala, Guyana, Honduras, Kitts & Nevis, Iceland, Indonesia, Iraq, Ireland, Israel, Italy, Kyrgyzstan, Kuwait, Liberia, Libya, Luxembourg, Malawi, Mali, Malta, Marshall Islands, Morocco, Mexico, Monaco, Montenegro, Nauru, Nepal, Niue, New Zealand, Nigeria, North Macedonia, Norway, Holland, Pakistan, Palau, Panama, Papua New Guinea, Peru , Portugal, United Kingdom, Rwanda, Senegal, Serbia, Singapore, Slovenia , Spain, United States, South Korea, Sweden, Switzerland, Suriname, Togo, Tonga, Tunisia, Ukraine, Uruguay, Vanuatu, Vietnam, Zambia.

Implementing the initiative would reduce warming by at least 0.2 degrees Celsius by 2050, providing a key foundation for global climate change mitigation efforts. The US and the EU also announced a significant expansion of financial and technical support, with philanthropists globally pledging $ 328 million in funding to support the expansion of such initiatives. And the European Bank for Reconstruction and Development, the European Investment Bank and the Green Climate Fund have also pledged to support the project through technical assistance and project financing. Achieving this goal, according to the UN, would prevent over 200,000 premature deaths, hundreds of thousands of asthma-related emergency visits, and over 20 million tons of crop losses per year.

The words of the minister of ecological transition Cingolani

“There is no cure without treating inequalities. The Global Energy Fund for 150 million jobs. Here at Cop26 we launch the global alliance ». The Italian government joins the Global Energy Alliance, a $ 10 billion fund with Rockefeller Foundation, Ikea Foundation, Jeff Bezos’ Earth Foundation and other international financial institutions to accelerate the ecological transition in less developed countries. “In the next few years it is unthinkable to get rid of gas,” the minister stressed. Furthermore, the Ministry of Ecological Transition has decided to allocate an annual budget of 3-4 million euros to make the youth conference on climate fixed every year, the Youth4Climate which was organized by the Italian government in September in Milan before the PreCop26. .

Agreement between 40 countries for the Breakthrough Agenda

World leaders announce a plan to make green technology, even for cars, cheaper: over 40 countries – including the UK, the US and China – have reached an agreement to coordinate the global introduction of clean technologies in order to quickly reduce costs. More than 40 nations have announced that they will align standards and coordinate investments to accelerate production and advance the “tipping point” where green technologies will become cheaper and more accessible than fossil fuel alternatives. Thus giving a significant boost to the green transition and reductions in climate emissions. In addition to the United Kingdom, the United States and China, the countries that have joined the so-called “Breakthrough Agenda” also include India, the EU and Australia.

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