According to science, the world must reach carbon neutrality before 2050 and slash hazardous greenhouse gas emissions by 45 per cent by 2030 from 2010 levels to meet that “ambitious, yet realistic target,” but the world is still lagging behind and getting off track, according to the UN head.
António Guterres urged all G20 and other leaders to commit to net-zero by mid-century, present more ambitious 2030 national climate plans, and deliver on concrete policies and actions aligned with a net-zero future with less than 100 days until the 2021 United Nations Climate Conference COP 26, a pivotal meeting that will be held in Glasgow at the end of October.
There will be no new coal after 2021, fossil fuel subsidies will be phased out, and a worldwide carbon pricing floor will be agreed upon, as recommended by the International Monetary Fund (IMF).
The G7 and other developed countries must also deliver a credible solidarity package of support for developing countries, which includes meeting the $100 billion goals, increasing adaptation and resilience support to at least 50% of total climate finance, and requiring public and multilateral development banks to significantly align their climate portfolios to meet the needs of developing countries.
The UN Secretary-General stated that he hopes to use the upcoming UN General Assembly high-level session to bring leaders together to establish a political agreement on these important aspects of the Glasgow “package.”
The G20 ministers, who convened in Naples, Italy on July 23-25, were unable to reach an agreement on a common language on two contentious topics linked to coal phaseout and the 1.5-degree goal, which will now be debated at the G20 summit in Rome in October, only one day before the COP 26 begins.