Hectic negotiations are underway among G20 countries to set the agenda for the upcoming COP26 global climate talks in Glasgow and strike a consensus between the developed and developing nations to raise and hasten climate ambitions.
On the table is a strong pitch for net-zero commitments, cutting coal use in the power sector, signing up on the methane pledge, reducing fuel subsidy, and upping the national climate targets — also known as Nationally Determined Contributions.
The developed nations are upping the ante and aim to finalise an ambitious climate action plan at the G20 heads of nations summit in Rome on October 30-31. On the other side of the divide are India, China, Brazil, Australia, Indonesia and Saudi Arabia — countries where the growth agenda could be deeply impacted by these decisions. The ‘net-zero’ target is one of them.
Developing nations in the G20 grouping have pointed out that this new ambition takes away the focus from — and is outside — the existing commitments under the Paris Agreement and the United Nations Framework Convention on Climate Change (UNFCCC ) framework, to limit global warming to below 2, preferably to 1.5 degrees Celsius, compared to pre-industrial levels.
The Methane Pledge signed last week by the US and European Union has also elicited varying responses from several G20 nations. There is growing pressure for all nations, particularly high emitters like China, India, Russia and Brazil, to sign up to the ‘Methane Pledge’ — a commitment to cut methane gas emission by 30% by 2030.
There are serious reservations on the same given that it will impact both livestock and agriculture in these nations. Another key area of debate is the call for decarbonisation of the power sector by 2030. Nations like India — where 60%-70% electricity currently comes from coal-fired power plants — besides Australia and others which also depend heavily on coal-based power are said to be pitching for a ‘low carbon’ growth trajectory instead.
Similarly, there are differences of opinion on the call to stop financing of new coal-based projects abroad, bring down fuel subsidy by 25%, introduce carbon pricing and commit to creating carbon sinks equivalent to green house gas emissions — moves with significant implications and cost to economy for developing nations. Suggestions to bring in a G20 based ‘review’ of implementation of NDCs of G20 nations and an annual ‘peer review’ of the fuel subsidy cuts — as different from the UNFCCC framework — has also ruffled feathers.
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