David Attenborough delivers speech at COP26
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At COP26 it is expected that the Prime Minister will give India a sovereign guarantee to secure a $1billion loan from the World Bank. A sovereign guarantee would pledge to the World Bank that if India fails to repay the $1billion loan, then Britain will instead.
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Scientists have urged rich countries to help developing countries with the financial burden of climate change.
It is the poorest people who have the smallest carbon footprint yet are experiencing the worst impacts of climate change like extreme weather.
The International Monetary Fund said: “Rising temperatures would have vastly unequal effects across the world, with the brunt of adverse consequences borne by those who can least afford it. Helping low-income countries cope with its [global warming] consequences is a humanitarian imperative and sound global economic policy.”
Concerns are mounting that uninhabitable heat across the Middle East will cause a wave of migration overwhelming the West.
At the Copenhagen climate talks in 2009, wealthy nations promised to give $100billion per year to developing nations to help fund green technologies, but that target was not met by 2020.
According to the Organisation for Economic Co-operation and Development, the latest figures show wealthy countries provided £79.6billion in loans, grants and private investment to poorer countries in 2019 to help cut carbon emissions and adapt to the effects of climate change.
India’s former chief economic advisor has urged rich nations to commit more than $100billion.
He said: “This $100billion that the advanced economies are talking about actually for innovation in climate finance, you know, it’s a drop in the ocean.”
“I think their commitment needs to be much greater.”
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The Asian nation has not committed to a deadline to hit net zero but plans to keep adding renewables to its energy mix and push industries to see the benefit of using cleaner fuels.
Arriving in the UK on Sunday, Mr Modi wrote on Twitter: “Landed in Glasgow. Will be joining the @COP26 Summit, where I look forward to working with other world leaders on mitigating climate change and articulating India’s efforts in this regard.”
India emits almost seven percent of global greenhouse gas emissions, about three gigatonnes of CO2 each year, which equals about 2.5 tons per person.
In comparison, in the UK the average annual carbon footprint per person is 12.7 tonnes of CO2, and the nation emits about 1.1 percent of greenhouse gases worldwide.
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China, the country with the world’s largest population of 1.4billion, is the worst culprit of climate change in the world, contributing over 27 percent of total global emissions, followed by the USA’s 11 percent.
Chinese President Xi Jinping has chosen not to attend the COP26 summit and will instead provide a written statement to be uploaded on the COP26 website.
At COP26, Mr Johnson aims to secure an agreement between world leaders, to limit global warming to 1.5 degrees Celsius above pre-industrial levels – a limit that scientists say will avoid its most devastating consequences.
But the Prime Minister has voiced uncertainty as to how much real change COP26 can achieve.
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In a recent question-and-answer session at Number 10, he said: “It’s going to be very, very tough, this summit, and I’m very worried because it might go wrong.
“We might not get the agreements that we need.
“It’s touch and go, it’s very, very difficult … It’s very far from clear that we’ll get the progress that we need.”
Tell us what you think should be achieved by COP26 in the comments section below.
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