Is this the summit where world leaders with a ghoulish climate record show up disguised as climate champions? But ECO also looks forward to hearing from some real champions:
In fact, in Scotland it was customary at Halloween to not get ‘treats’ for simply showing up in costume, one had to actually perform (songs). Please pay some respect to the local culture and deliver.
Many, in particular, rich nations and big emitters see the need for Loss and Damage finance as clearly as on a foggy Glasgow Halloween night without a lantern. So let ECO shine some light: COP26 must respond to climate-induced losses and damages across the world and deliver political recognition of the need for additional financial resources for this. Globally, we have entered the era of Loss and Damage. For ECO this will be the litmus test for COP26. Not responding to the realities of financing needs for Loss and Damage means failure.
Next, if you really want to frighten people this Halloween season, show them the newest IPCC Assessment Report. The UN Secretary-General rightly calls it “code red for humanity”. However, the G20, the biggest neighbours on the block, have not given much candy. They are promising good things but are capable of so much more. At the least, COP26 can and must build on their commitment to keep 1.5 within reach.
At this COP, developed countries especially must recognise the crucial necessity of the 1.5°C target and commit to implementation and closing the glaring and scary 2030 emissions gap. Even those large emitters who have submitted new targets will need to revisit their 2030 goals. If, as a rich developed country, you believe that a 50% emission reduction by 2030 is doing your fair share, you are merely tricking yourself and not treating the climate crisis seriously.
Taking 1.5 seriously means closing the gaps on climate finance and mitigation and establishing an annual ambition raising platform, supported by yearly synthesis reports to keep track of your (lack of) progress. The 2023 Global Stocktake awaits to test your commitments, uncover any fudges and measure the progress countries are actually making.
Historically, Halloween has been all about warding off ghosts of the dead who still walk among us, which makes ECO think of…fossil fuels. In your COP Decision, delegates must ward off coal and other dirty energy sources of the past, bringing us on track for 1.5°C. In considering the new finance goal at pre-COP and other occasions, ECO was glad to hear many delegates highlighting the need to start talking about Article 2.1(c) – aka financial flows aka stopping all finance to ghoulish fossil fuels. It is time for COP26 to cast out some demons.
Parties might also be haunted by the unfulfilled US$100 billion promise to be delivered within a decade. Here we are 12 years later and the commitment has still not been achieved. ECO sees a clear answer to this challenge: developed countries must compensate for past shortfalls and clearly show how they will significantly increase the share of climate finance provided as grants, as well as increase the share of adaptation finance to reach 50% of all climate finance.
While ECO is on the topic of unfulfilled business from the past haunting the present, naturally some outstanding rulebook items come to mind; 5-year common timeframes and flexible but common reporting tables are critical negotiation outcomes that must finally be delivered.
Finally, what is truly scary is the prospect of double counting under Article 6, which is why all transfers must have corresponding adjustments and no carryover of Kyoto Protocol credits. Now is not the time to repeat the horrors of the CDM. Failure to uphold the environmental and ecosystems integrity mandated by the Paris Agreement would truly haunt you for decades to come! Now is not the time for tricks. On Article 6, no deal is better than a bad deal.