COP26 stands for “Conference of the Parties” and is the United Nations annual climate change conference. This annual summit counts almost three decades of existence and brings together the leaders of every country on Earth to discuss measures against climate change to support the Green Deal.
This year’s COP26 is ongoing in Glasgow from 31 October 2021 until 12 November under the presidency of the UK and is a year late due to the continuing pandemic. COP26 has been dubbed as one of the most crucial conferences on climate change as the decade leading to 2030 will be critical.
The importance of COP26 and the Paris Accords
If you are not aware of the “Conference of the Parties,” you should probably know the Paris Agreement. It was a legally binding international treaty on climate to limit global warming below 2 degrees Celsius. The agreement was considered a landmark in the climate change discussions as for the first time, it created a binding agreement for all nations to commit to bold efforts to reverse it and adapt to its effects.
When COP first started, climate change was simply an important issue, but in 2021 things are different. There is a particular urgency in that topic, and it has now become a global priority.
However, the Paris agreement did not have the expected results. While the agreement for measures to limit global warming to below 2C was binding, it was up to the states to decide how by setting non-binding national targets. These were known as nationally determined contributions or NDCs, and they improved inadequate to withhold the rising temperatures below 2C. With the current measures, the world had set sail for a 3C rise, which would have a disastrous effect on the environment.
If the Paris Accords were momentous, this time in Glasgow would prove decisive for the future of humankind and the sustainability of the planet.
The main goals of COP26 are:
- Secure global net-zero by mid-century and keep 1.5 degrees within reach
- Adapt to protect communities and natural habitats
- Mobilise finance (at least $100bn in climate finance per year)
- Work together to deliver
How will COP26 affect European funding?
Europe’s efforts in combatting climate change make it a global sustainability leader. The adoption of the European Green Deal wants to prepare the continent for the transition to a greener future. This will be possible by providing EU funding for Green projects to achieve the EU climate targets for 2030 and 2050.
If the current European plan to become a sustainability champion and realize the transition to a greener future is considered an ambitious plan, COP26 will certainly bolster further Europe’s sustainability efforts. Having said that, as COP26 is about to finish soon and the world is patiently waiting for its outcomes, one thing is sure. This decade will be dedicated to green projects against climate change and innovations that will make the green transition easier. Of course, this won’t only apply to Europe, but it will be a global phenomenon.
Concerning Green European funding, for the horizon of 2021-2027, there are already many European funds earmarked for green projects, and the Commission has already opened calls for the environment and climate action. But considering the grave importance that COP26 has, we should probably be expecting further EU funds like the €1 billion pledge to protect world forests as per EU’s obligations on delivering the Paris Agreement.
Find EU funding Opportunities on EUcalls
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