COP 26, Glasgow (UK)

• New Global and Country Targets: The Glasgow Summit has urged countries to consider strengthening their 2030 targets by COP27 to be held in Egypt.
• The summit targeted global warming not to exceed +1.5°C and got about 140 countries to announce target dates for bringing emissions down to net zero.
• India has also joined the consensus and announced its net-zero target of 2070.
• India also suggested a middle path calling for a “phase-down" of coal-based power.
• A potentially important development which emerged out of COP26 (but outside the COP process) is the Glasgow Breakthrough Agenda endorsed by 42 countries (including India).
• Also, a mechanism is being put in place to achieve the target of climate financing USD 100 billion by 2023.