COP 26 conference 2021
The 26th session of of the conference of the parties cop26 to the unfccc took place from 31october -13 november 2021 in glasco scotland it intended to strengthen the global commitment to addressing climate change, as well as various pledges among participants to address particularly carbon intensive industries.
By the end of COP26, 151 countries had submitted new climate plans knowns as nationally determined contributions or NDCs to slash their emission by 2030. To keep the goal of limiting temperature rise to 1.5 degrees within reach, we need to cut global emissions in half by the end of this decade.
In 2009 rich nations committed to mobilize $100 billion a year by 2020 and through 2025 to support climate efforts in developing countries.it was noted with deep regret that OECD estimates $79.6 billion in2019 Georgieva, the IMF Managing director said in COP26 that widespread carbon pricing should play a central role in climate policy. A global carbon price exceeding $75 per ton would be needed by 2030, to keep warming below 2degrees celsius.