COP26 AND VIETNAM’S IMPRINT

Lasting one day longer than expected, tensions were high until the last minute, the 26th United Nations Climate Change Conference of the Parties (COP26) achieved many important goals and expressed the world's determination to respond towards climate change. Within the framework of COP26, Vietnam - one country most heavily affected by climate change - has sent a message of its desire to strengthen cooperation with international partners in sustainable development programmes and projects.

Back to 2015, COP21 in France witnessed a historic milestone. Accordingly, countries agreed to take action to hold increases in global average temperature below 2C above pre-industrial levels and achieve a target of no more than 1.5C increase in response to the impacts of climate change.

The Paris Agreement on climate change was born in such a context. Under the agreement, countries will have to commit to more ambitious climate goals every five years. It means that countries need to submit or update their emission reduction plans, also known as Nationally Determined Contributions (NDCs) in 2020.

Before the conference, the organising board of COP26 announced the goals that the world will need to achieve in order to promote the global fight against climate change.

After nearly two weeks of intense negotiations, all 197 countries participating in the United Nations Framework Convention on Climate Change (UNFCCC) have ratified the Glasgow Climate Pact which was published on the UNFCCC website. It consisted of 8 pages with 8 main contents and 71 articles.

Accordingly, the parties reaffirmed their long-term goal to control the global average temperature rise to below 2°C and pursue efforts to limit the increase to 1.5°C (compared to pre-industrial levels). This goal will significantly reduce the risks and impacts of climate change.

The Glasgow Climate Pact also recognised that the goal of limiting global temperature increase to 1.5°C requires rapid, deep and continuous reductions in global greenhouse gas emissions, of which CO2 emissions must be reduced by 45% by 2030 from 2010 levels and to zero by the middle of this century, other greenhouse gases also need to be greatly reduced.

The Pact called for accelerating efforts to phase out coal-fired power using inefficient carbon capture and fossil fuel subsidies, and recognises the need for assistance towards an equal transition. This is considered a major turning point because fossil fuels have been mentioned for the first time during an agreement at a United Nations climate summit.

The Pact also recognised the severe impact of the COVID-19 pandemic and the importance of ensuring a sustainable, strong and inclusive recovery on a global scale, and expressed special solidarity with developing countries throughout the world. The Pact emphasised the need to mobilise climate finance from all sources to achieve the levels needed to meet the goals of the Paris Agreement, including a substantial increase in assistance to developing countries, which can exceed 100 billion USD per year.

For years, finance has been the main "bottleneck" at UN climate negotiations. Rich countries have failed to meet their 2009 target of supporting 100 billion USD a year within five years and completed by 2020 to help developing countries transit from fossil fuels to renewable energy as well as prepare to respond to the impacts of climate change.

The Pact signed within the framework of COP26 urged developed countries to urgently complete the goal of supporting 100 billion USD per year by 2025, and underscored the importance of transparency in the implementation of their commitments.

COP26 also marked the first time that the issue of loss and damage appeared in a Pact of a COP meeting. This Pact recognised that climate change has been and will continue to cause damage and loss; and affirmed the urgency of scaling up action and assisting, where appropriate, including funding, technology transfer and capacity building, to implement approaches to prevent, reduce and address the loss and damage associated with the adverse effects of climate change.

Other outstanding results

In addition to organising political talks and summits, COP26 also attracted about 50,000 participants to join face-to-face or online meetings to share ideas and innovative solutions; as well as participate in cultural events; while building partnerships and alliances.

Lasting 1 day longer than expected, the meeting recorded many encouraging results. One of the most remarkable results is that the leaders of more than 120 countries that own about 90% of the world's forests have pledged to prevent and reverse deforestation by 2030.

COP26 marked the first time that a COP in recent years has organised a major methane emission event, with the participation of 105 countries (including 15 major emitters such as Brazil, Nigeria and Canada). The commitment to reduce global methane emissions led by the US, the European Union (EU) and host country, the UK, set a target to cut greenhouse gas methane 30% by 2030 compared with the emission level in 2020.

In addition, more than 40 countries, including Vietnam, have pledged to end the use of electricity produced from coal and stop the construction of coal power plants.

Notably, the US and China, the world's two largest economies and largest CO2 emitters, announced an agreement to enhance cooperation on climate change response. In their joint statement, the two nations agreed on a range of issues including the reduction of methane emissions, the transition to clean energy and reduction of carbon emissions. Washington and Beijing also recalled their commitment to limit the temperature increase to 1.5 degrees Celsius.

Regarding green transport, over 100 governments, nations, cities and car manufacturers have signed the Glasgow Declaration on Zero Emission Cars and Vans, to end the sale of internal combustion engines by 2035 in leading markets and in 2040 worldwide. At least 13 nations announced an end to the sale of fossil-fuel-powered vehicles by 2040.

The private sector also witnessed a strong commitment from 500 global financial service providers to align their 130 USD trillion in capital, about 40% of the world's assets, with supporting clean technologies such as renewable energy and eliminating funding for fossil fuel industries.

On November 1 (local time), Prime Minister Pham Minh Chinh delivered an important speech at the Climate Summit, held within the framework of COP26, highlighting Vietnam’s commitments to global joint efforts towards the goal of maintaining the global temperature increase below 1.5°C.

The PM affirmed that despite being a developing country that has just carried out its industrialisation over the past three decades, Vietnam, with advantages in renewable energy, will build and implement strong measures to reduce greenhouse gas emissions by using its own resources coupled with the cooperation and support of the international community, especially from developed countries, in terms of finance and technology transfer, including the implementation of mechanisms under the Paris Agreement to achieve zero emissions by 2050.

Read his full remarks here.

Production manager: TRUONG SON
Content: HOANG HA, VAN TOAN, TRUNG HUNG
Translation: NDO
Design: HOANG HA, TRUNG HUNG, ANH NGOC
Sources: COP26, Gov.uk, UN, Reuters, VNA