December 3, 2021
12 PM UK / 8 PM Philippines / 1 PM Nigeria / 9 AM Brazil
The Southern Peoples’ Action on COP26 is organizing a report-back session featuring its convening and allied organizations who have participated in the ground and online battlegrounds of COP26 at Glasgow and beyond.
As the dust has settled after the conclusion of the COP26 climate talks, the global public now has a clearer picture of the outcomes of the Glasgow Climate Pact, which has been universally acknowledged as a ‘compromise deal’ that tries to keep the hope of a 1.5C warming limit alive but is faced with enormous challenges:
Announced climate finance adaptation finance only amounted to $960 million to $1.22 billion. Monitored voluntary pledges around nature, including zero deforestation, nature protection, and agriculture, amount to around $27 billion.
These are a far cry from the original commitment to raise $100 billion/year, which is expected to rise to $300 billion/year by 2030. Only $80 billion in total was raised since the Paris Agreement was promulgated in 2015.
Banks and international finance institutions pledge $130 trillion in climate finance, but raise fears of conditionalities and resource traps.
The Glasgow Loss and Damage Facility was established but with no concrete commitments for funding.
Human rights language, expected to strengthen hard accountability, was shot down in the final text of the Glasgow Climate Pact.
Join SPAC26 and other leading voices in the global climate justice movements in taking stock of COP26 outcomes and how they measure up to peoples’ demands for climate justice.#