$ 130 trillion global assets on the road to “zero carbon emissions “

A recent international report confirmed that the Glasgow climate conference reached an international consensus to address the challenges caused by climate change, through efforts to reduce emissions to “zero net “by managing an estimated global assets in 130 trillion dollars, which represents a sought-after international success, after transforming the theme from a mere marginal idea only 5 years ago.

The report by “Richard Atias & Associates RA & A” on the main developments at the Glasgow climate conference “COP26” underlined the importance of recent commitments related to “zero net “, noting Saudi Arabia’s commitment to achieve net emissions of zero by 2060, as well as India’s commitment a zero net emissions achieved by 2070, together with Nigeria’s commitment a Net zero emissions by 2060, exceptional initiatives such as global models, according to the Middle East newspaper.

The report showed that current climate commitments have the potential to limit global temperature rise by 1.8 ° C by the end of the century, bringing collective action below 2 ° C for the first time. emphasizing the importance of transforming these networks zero engagements in concrete and investable plans with clear key objectives.

According to the report, the latest pledges focus on reducing global methane emissions by 30% by 2030, as more than 100 countries have signed up to it, noting that this step is important because methane is the second largest contributor to global warming after carbon dioxide.

The report indicated that the 3 largest methane emitters in the world are not signatories to the agreement, indicating that ambition is not enough to reach 1.5 degrees Celsius, as it requires a 45% reduction by 2030, acknowledging that the Global statement the transition from coal to clean energy signed by 40 countries does not include the United States, India and China.

The report acknowledged that the gap between recorded commitments and actions is so wide that the recently presented draft climate agreement includes a provision for governments to present their long-term strategies to achieve this. zero net by the end of next year, in one moment in which China and the US have just announced the creation of a Joint Action Working Group to take concrete climate action over the decade in course. The report highlighted the carbon markets issue included in Article 6 of the Paris Agreement, where tensions revolve around two important dimensions, in firstly, how to establish rules for both governments and private actors, e in second, if and how the revenues will be used to support countries in via development, while ensuring the integrity of the market will be essential.

Private sector clearing rules are particularly important to avoid “greenwashing” in a market that has doubled in the past two years and is expected to reach $ 150 billion by 2030. The carbon harvested must be used to support climate efforts in countries in via of development.

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