Bold action is needed to back up the leaders’ statement of the High Ambition Coalition (HAC).
COP26 has shown that world leaders recognise the seriousness of problem, but they have a credibility gap. Funding commitments are not being met and the Climate Tracker shows that current commitments at COP mean the ‘world on track for heating of more than 2.4C’.
Analysis by GCI shows gross & per capita emissions for all countries (CDIAC data - 1750 to 2013) and here.
At the same time, current analysis (2020) indicates the situation is now much more dire than many leaders may yet realize.
Information here may be helpful to the HAC and accelerate action based on inclusivity, equality and effectiveness:
- Support for a Global Carbon Incentive (GCI) fund the proposal from Raghuram Rajan’s proposal will help.
- Details were published in the Financial Times on 5 November (Reducing global emissions can be simple and self-financing).
- It redistributes funds from high emitters to low emitters and vulnerable countries,
- and address the inequality at the heart of current plans.
- Raghuram Rajan is former Chief Economist at the IMF & Governor of the Reserve Bank of India.
- His proposal was described by Mark Carney as, "the first best option."
- He is working with the World Bank on this proposal.
- A HAC member or members could start the process.
The latest issue of Nature published a blistering article on the limits of COP26:
“COP architects furious at lack of climate justice at pivotal summit”,
saying that pledges
at COP26
enable richer countries to, “continue to take more of the carbon budget”.
It has been widely recirculated by many sources including Scientific American.
Rajan’s proposals address these issues and would shift the debate from voluntary
commitments
to a legally binding process and mandatory funding based on equality.
Preparation for COP27 starts now: President Sisi has said Egypt will host COP
“on behalf of the African continent”,
adding will make the conference
"a radical turning point in international climate efforts in coordination with all parties,
for the benefit of Africa and the entire world." (Reuters)
Though not in HAC, Egypt’s per capita emissions are below average,
and so may see the advantages of backing the
Rajan Proposal & his GCI.
All countries emission profiles are here
Data CDIAC
All countries emission profiles are here
Data CDIAC
Most coutries as still below the Global Per Capita Average (movie)