Powerful nations promised the developing countries 100 billion dollars in 2020 to help them fight and mitigate the effect of climate change. They still failed to fulfil that promised. Developing countries are continues to suffer while powerful nations enjoy their annual profit from businesses that largely contribute to global warming.
The developed countries need to join hands to achieve their annual targets. US and China have started by agreed at the COP26 Conference to work together as they are the largest emitters despite the recent gaps on diplomatic relationships; those are United States and China. They also need to increase their pledges for NDC as it is one of the reasons that might lessen their confidence of releasing much carbon into our atmosphere.
The powerful nations still ignore the low line countries as they are the most vulnerable to climate change. The larger emitters do less to reduce their emissions as the consequences don’t really affect them. They focus on business profits better than reducing carbon emit. Keeping temperature rise to no more than 1.5°C still failed.
During COP26, over one hundred nations pledged to cut 30% of their emissions of methane. More than 130 nations, together possessing 90% of the world’s forests, agreed to halt and then reverse deforestation by 2030. Over 450 financial institutions overseeing $130 trillion in assets promised to align their portfolios with the goal of achieving net-zero emissions by 2050. (Council On Foreign Relation, 2021)
REFERENCE
Council of Council .2021.
REFERENCE
Council of Council . 2021.
REFERENCE
Council of Coucil. 2021. COP26: Much Achieved, Huge Opportunities Missed, Retrieved from ; https://www.cfr.org/councilofcouncils/global-memos/cop26-much-achieved-huge-opportunities-missed
