Among the signatories is Brazilian President Jair Bolsonaro, which is particularly notable. His pledge comes as a surprise, as the rate of deforestation in Brazil rose by 22% between August 2020 and July 2021 alone. As such, it remains to be seen whether Brazil’s sudden commitment to halt deforestation can effectively be translated into action.
Another critical agreement emerging from the COP26 is the so-called Global Methane Pledge, from which over 100 states have committed to. Although methane has a shorter atmospheric lifetime than carbon dioxide, it holds much higher warming potential. Indeed, over a period of 20 years, a unit mass of methane has an impact on climate estimated to be 84 times greater than that of CO2, and methane is responsible for a quarter of today’s global warming. The reduction of methane emissions can thus have a rapid beneficial effect on global GHG emissions. Still, it should also be noted that, unlike carbon dioxide, a large portion of global methane emissions result from leakages. These could be avoided, for instance, by using existing technologies. In that respect, the commitment made by multiple states to rapidly reduce methane emissions is commendable, but its implementation in the short term will require careful attention. More crucially still, the notable absence of major methane emitters, such as China, Russia and India, already weakens the impact of this agreement.
The International Partnership for a Just Energy Transition might be the most promising agreement to come out of this COP. As part of this initiative, France, Germany, the United Kingdom, the United States and the European Union have committed to financially contribute to South Africa’s energy transition. Today, coal accounts for 87% of South Africa's electricity, making it the world's 12th largest emitter of greenhouse gases. In this respect, South Africa ranks ahead of the United Kingdom while having an economy that is eight times smaller. Besides, the consequences of South Africa’s high-carbon development are far from trivial. Across the country, climate has been warming at twice the global rate, endangering agricultural activities and continental logistics networks. The Partnership announced at the COP26 is set to mobilize $8.5 billion to help decarbonize South Africa’s economy. While this sum will most likely be insufficient, it is part of an innovative framework that aims to create a new path for clean development. Ultimately, the success of this partnership could elevate South Africa's green credentials on the rest of the continent for decades to come.
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