From November 1 to 12, 2021, the 26th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP26) was held in Glasgow, Scotland, United Kingdom. The conference made important progress in the implementation of the Paris Agreement and the negotiations on international governance to address global climate change, and further deepened the consensus on climate governance. Further recognition of carbon neutrality and the Paris Agreement temperature targets.
Many climate outcomes achieved at COP26 will play an important role in the future process of global climate governance, and have certain implications for the future development prospects and evolution direction of low-carbon emission reduction paths of various countries, international cooperation on climate governance, investment in green financial markets, and global green economic and trade exchanges.
China is rapidly increasing its international influence and participation in the fight against global climate change, demonstrating its responsibility as the world's largest carbon abatement country and launching the largest, most efficient and most influential green low-carbon emission reduction campaign in world history. At the same time, China and developing countries are beginning to make more and more voices in the stage of global climate governance negotiations, and have received attention and attention from countries around the world. In this regard, China must enhance the voice and competitiveness of major powers in climate negotiations, and strive for the reasonable rights and interests of developing countries in the process of industrialization in the context of the global carbon neutral process.
Progress and outcomes of COP26: A historic breakthrough for the global carbon market
To some extent, COP26 has achieved phased results. For example, the two largest carbon emitters, China and the United States, jointly issued a climate statement, setting up an important reference for countries in climate governance and cooperation. The conference reached a series of international consensus on reducing the use of coal power, controlling methane emissions, and establishing a climate fund. The COP26 negotiations on the international transfer of carbon credits under the Paris Agreement reached an agreement, a historic step forward in the process of establishing a global carbon market.
The international consensus on addressing climate change has been highly recognized and valued by countries around the world, and China has once again further demonstrated to the world its responsibility as a major country for climate responsibility.
On November 13, 2021, COP26 adopted the Glasgow Climate Convention, which commits countries to maintaining the Paris Agreement's goal of keeping global temperature increases below 1.5 degrees Celsius and phasing out coal use. During the conference, the United Nations released an interim report, The State of the Global Climate 2021, to show the world the seriousness of the climate problem and the urgency of climate action.
In the face of severe climate and environmental change, China demonstrated its responsibility in the face of the urgency of global action at the COP. First, China will uphold the multilateral consensus. Countries, especially developed and developing countries, must enhance strategic mutual trust on the basis of the existing consensus on the climate crisis and not treat the climate issue as a political struggle. Second, China will take increasingly pragmatic actions, especially the commitments of Western developed countries on climate governance and climate assistance should be fulfilled, otherwise there will be no credibility to guide other countries' climate actions. Third, China is taking green transformation as its core goal, fully integrating technological innovation, energy transformation and industrial upgrading into one, and exploring a development path in the era of carbon neutrality.
The process of transnational carbon trading and the construction of a global carbon market has made key breakthroughs at COP26.
Previously, Article 6 of the Paris Agreement on the international carbon market and the international transfer of emission reduction results have not reached a consensus, but at the COP26 conference, the issue has finally been phased progress, which is the most important historical outcome of COP26.
The global carbon market negotiation is A historical issue in the field of global climate governance for many years. Article 6 of the Paris Agreement allows the international transfer of carbon emission reduction results. For example, country A invests in clean energy in country B, which not only enables country B to achieve energy transformation and green upgrading of infrastructure, but also credits the emission reduction results achieved for Country B to Country A. Under the framework of international climate governance, it is theoretically A mutually beneficial and win-win market system for both countries.
International carbon trading is beneficial to countries that are investing heavily in clean energy exports, such as China, which announced in September that it would stop overseas coal power projects and further increase green investment in countries along the Belt and Road. International carbon trading is also beneficial to countries that have the natural conditions to develop clean energy but lack technology and investment, such as Brazil. The smooth implementation of carbon trading can bring foreign investment attraction to countries with clean energy development needs, and speed up the process of carbon emission reduction in developing countries.
Second, looking at the changing trend of international emission reduction pattern from the perspective of the Climate Conference
In previous COP climate conferences, countries have gathered to discuss issues such as the division of responsibilities, rule-making and path selection in addressing global climate change and promoting sustainable development of the world. The important progress of past conferences is the common result of the game of various parties, and has constantly affected the evolution direction of the global low-carbon emission reduction pattern.
Under the international framework of climate governance and low-carbon emission reduction, the Paris Agreement has continuously refined specific rules on the basis of deepening consensus.
The successive Conferences of the Parties to the United Nations Framework Convention on Climate Change have all further affirmed the international consensus on addressing global climate change, and the deepening of this consensus has safeguarded the trust of the international community in multilateral mechanisms. The Paris Agreement has become the consensus of the world, and from now on, the negotiations at the Climate Conference will not focus on whether to affirm the Paris Agreement, but how to implement it:
The first is to take measures to fully and effectively implement the Paris Agreement. Currently, countries are only at the stage of proposing carbon neutrality targets, and no major country has yet explored an effective and specific implementation path with reference value, nor is there an international cooperation mechanism trusted and recognized by all countries.
Second, in terms of their intended contributions to climate goals, whether countries can establish effective incentive, restraint and punishment mechanisms for the implementation and implementation of the promised goals. Past historical experience shows that some countries led by the United States have failed to fulfill their emission reduction commitments for many times, but have not assumed corresponding responsibilities and consequences.
Third, on the issue of international responsibility for climate goals, whether developed countries can honor their commitments to provide financial support, technology and capacity building to developing countries, otherwise, they will not be able to establish their authority as a major country on the climate issue.
The Middle East's energy transition from oil dependence and the less developed regions of Africa's struggle for reasonable rights and interests under the climate governance system will gradually become two important elements in the future international climate negotiations.
At the end of the COP26 conference in Glasgow, Egypt and the UAE decided to host COP27 in 2022 and COP28 in 2023, respectively, reflecting the development trend in Africa and the Middle East in the fight against climate change and low-carbon transition.
For Africa, Egypt set out to host COP27 saying it would be a "truly African conference", hoping to make progress on priority areas such as climate financing, adaptation and loss and damage to keep pace with the world's hopes for mitigation and carbon neutrality. Under the climate crisis, the impact of hot and arid areas in Africa is much higher than that of countries with advanced urbanization and industrialization processes, and its ability to cope with the climate crisis is weak, and it lacks the basis for low-carbon transformation and green upgrading. Meanwhile, developed countries should fulfill their climate assistance obligations to developing countries and less developed regions.
For the Middle East, countries that started with oil resources and have high reserves, such as the United Arab Emirates and Saudi Arabia, are now actively seeking green transformation. Saudi Arabia plans to achieve carbon neutrality by 2060 in October 2021. Originally, Saudi Arabia, which is not active in climate change and carbon emissions, has changed its attitude in the past two years. In the past two years, the UAE has also actively carried out green transportation, blue-green ammonia energy transformation and held green economy summit. The hosting of COP27 reflects the Middle East region in the international political and economic situation like the clean and low-carbon transition environment, one is to reduce dependence on oil, the second is to carry out infrastructure construction, the development of clean energy such as hydrogen energy, the establishment of green cities and other industrial transformation.
Iii. Future direction of China's participation in global climate governance
After the two-week 26th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP26), the negotiations reached a basic consensus, laying a certain foundation for the process and direction of climate action in the future era of carbon neutrality, and pointing out the direction for China's participation in climate governance.
China should work with other countries to uphold the important consensus and climate outcomes of the Paris Agreement and fulfill China's commitments.
At COP26, countries further affirmed the need to accelerate climate action in order to achieve the goal of limiting global temperature rise to 1.5 degrees Celsius. The Glasgow Climate Convention shows that countries will report on their progress towards meeting their larger climate goals at COP27 next year.
China should uphold the major outcomes and consensus of the conference, including ending fossil fuel subsidies, phasing out coal, putting a price on carbon, protecting vulnerable communities, and pushing developed countries to meet their $100 billion climate finance commitments. Among them, the goal of gradually reducing the use of coal is greater pressure on China, especially at present more than 40 countries, including Poland, Vietnam and Chile and other major coal users have agreed to give up coal, although China is still not completely rid of the dependence on coal power and support in the short term, but China is gradually showing the determination to implement energy transformation in the field of coal power investment and clean energy power generation.
China should urge developed countries to fulfill their respective climate assistance obligations. All parties agreed on the need to continue to increase support to developing countries. They reiterated their obligation to fulfill the commitment of developed countries to mobilize US $100 billion annually to developing countries, which is the core concern of developing countries and the commitment of developed countries is difficult to guarantee to some extent. Supervision and punishment are lacking.
China should encourage developing countries to speak with one voice. Due to the ecological environment, industrial structure and level of social and economic development, developing countries are less able to adapt to climate change and are more vulnerable to the adverse effects of climate change than developed countries. Countries around the world should pay attention to the needs of developing countries to adapt to climate change and cope with climate loss, which is their most direct and urgent need.
China should pay attention to the right to speak as a major country on climate change and carbon neutrality, take a firm stance on emission reduction, carry out green transformation at its own pace and plan, and tell the story of China's carbon neutrality to the outside world.
On October 28, China officially submitted to the Secretariat of the United Nations Framework Convention on Climate Change two documents, "China's Implementation of Nationally Determined Contributions and New Targets and New Measures" and "China's Long-term Low Greenhouse Gas Emission Development Strategy in the middle of this century". China issued a large number of top-level policy documents on the first anniversary of the dual-carbon goal. China has made clear to the world its position on emission reduction and correctly elaborated its long-term plan and strategy for low-carbon emission reduction.
China's future climate governance should focus on properly handling the complex relationship between economic development and low-carbon emission reduction, between national and regional, and between the short and medium term goals of dual carbon, based on the three basic principles of pollution control without damaging economic development, national emission reduction without damaging local economies, and pursuit of short-term peak goals without damaging long-term carbon neutrality. We should form an economic and social development model that is resource-conserving and environment-resilient as soon as possible, adhere to the principles and propositions of win-win cooperation, respecting facts and doing what we say on climate governance, and use the dual-cycle development strategy and new development concepts to carry out green development and climate transformation.
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