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Leaders Summit on Climate

Leaders Summit on Climate

Why in news?

  • Recently, the Leaders’ Summit on Climate was convened by the US President virtually.
  • 40 world leaders, including the Prime Minister of India, were invited to the event to underscore the urgency of stronger climate action.                    Leaders Summit on Climate
  • This summit is seen as a key milestone on the road to the United Nations Climate Change Conference, Conference of the Parties 26 (COP 26) in November 2021 in Glasgow, Scotland.

About the Leaders’ Summit on Climate 2021

  • US President Joe Biden hosted a virtual meeting of world leaders titled ‘Leaders’ Summit on Climate’ on the occasion of Earth Day (22nd April).
  • It is a two-day conference and is touted by some as a precursor to the United Nations Climate Change Conference (COP26) that will take place later this year in Glasglow.
  • The summit is supposed to “galvanise efforts by the major economies to tackle the climate crisis” and “underscore the urgency – and the economic benefits – of stronger climate action.”
  • The conference is streamed live and available for the public to witness.

India-US Clean Energy Agenda 2030 Partnership

  • It is a joint climate and clean energy initiative of India with the US.
  • It will demonstrate how the world can align swift climate action with inclusive and resilient economic development, taking into account national circumstances and sustainable development priorities.
  •    Two Main Tracks of the Initiative:
    • The Strategic Clean Energy Partnership.
    • The Climate Action and Finance Mobilization Dialogue.

Goal of the partnership

  • Mobilise finance and speed clean energy deployment.
  • Build capacity to measure, manage, and adapt to the risks of climate-related impacts
  • Demonstrate and scale innovative clean technologies needed to decarbonise sectors, including industry, transportation, power, and buildings.          Leaders Summit on Climate

New Targets and Commitments as part of NDCs

  • US:  It has pledged to reduce greenhouse gas (GHG) emissions 50-52 per cent below 2005 levels by 2030. The country aspires to attain net zero emissions status before 2050. Also, it committed to double its annual public climate finance to developing countries by 2024.
  • Japan: It has pledged to reduce emissions by 46 per cent from 2013 levels by 2030.
  • Canada: It has pledged to cut emissions by 40-45 per cent from 2005 levels by 2030.
  • EU: It has shown a commitment to reduce emissions by 55 per cent from 1990 levels by 2030.
  • K: It has shown a commitment to reduce emissions by 78 per cent from 1990 levels by 2035.
  • India: It didn’t announce any updated NDC. However, India reached a consensus with the US over a new India-US Climate and Clean Energy Agenda 2030 Partnership. It aims to mobilize investments in clean technologies for industry, transportation, power, and buildings.

What is net-zero?

  • Net-zero, which is also referred to as carbon-neutrality, does not mean that a country would bring down its emissions to zero. Rather, net-zero is a state in which a country’s emissions are compensated by absorption and removal of greenhouse gases from the atmosphere.
  • Absorption of the emissions can be increased by creating more carbon sinks such as forests, while removal of gases from the atmosphere requires futuristic technologies such as carbon capture and storage.

India’s Stand

  • India was already doing its part and that the country’s per capita carbon emissions are 60% lower than the global average.
  • India’s ambitious renewable energy target of 450 GW by 2030.
  • Despite its development challenges, India has taken many bold steps on clean energy, energy efficiency, afforestation and biodiversity. India is among few countries whose NDCs are 2°C compatible.
  • Emphasised its encouragement of global initiatives such as the International Solar Alliance and the Coalition for Disaster Resilience Infrastructure.
  • Some Indian Initiatives to Fight Climate Change:
    • National Clean Air Programme (NCAP)
    • Bharat Stage-VI (BS-VI) emission norms
    • UJALA scheme
    • National Action Plan on Climate Change (NAPCC)

Way ahead

  • Firstly, the summit has put climate back on the agenda and forced leaders of major economies to confront the scale of the task ahead.            Leaders Summit on Climate
  • Secondly, the U.S should adopt a  57-63 % domestic target to be 1.5˚C compatible by 2030 as per CAT.
  • Further, the U.S must adhere to the recommendations of  Fair Share NDC analysis. It recommends:
  • A climate finance contribution of $800 billion between 2021-2030
  • Use of Special Drawing Rights (SDR) of $3 trillion to help developing countries

 

ALSO READ : https://www.brainyias.com/c40-cities-climate-summit/

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