Glasgow Climate Pact

To stave off worsening climate change together, the international community has made joint efforts by striking international treaties on the crisis, including the 2015 Paris Agreement, and setting climate-related targets, such as the 2030 Nationally Determined Contributions (NDCs) to reduce greenhouse gas emissions.

On Nov. 13, a new global climate deal was struck by nearly 200 nations in Glasgow, Scotland at the two-week 26th United Nations Climate Change Conference (COP26). The so-called Glasgow Climate Pact urges the world to strengthen near-term climate targets and move away from fossil fuels faster. Also, developed countries agreed to at least double funding by 2025 for developing countries to adapt to the climate crisis, which is very important progress.

The new pact is the first ever climate deal to explicitly plan to reduce coal, the worst fossil fuel for greenhouse gases, calling for the phasing down of unabated coal and inefficient fossil fuel subsidies. The agreement also requests parties to come to next year¡¯s COP27 meetings in Egypt with ¡°updated plans on how to slash greenhouse gas emissions by 2030.¡±

Korea is among those countries that joined the agreement. Korea has made continued efforts to join the global commitment to curbing rising climate damage. Last year, the current Moon Jae-in administration also officially declared the ¡°2050 Carbon Neutrality¡± initiative with the aim of achieving net-zero emissions by 2050.

Attending the COP26 session on Nov. 1, President Moon Jae-in pledged that the nation will take more aggressive action to stop global warming. Part of the nation¡¯s ambitious action includes an enhanced greenhouse emissions cut target.

¡°Korea will upgrade its 2030 Nationally Determined Contributions and cut greenhouse gas emissions by more than 40 percent relative to the level [26.3 percent] in 2018,¡± said the Korean leader at the COP26 summit as he was officially announcing the nation¡¯s new NDS target to the world.

The 14 percent increase from the 2018 target is a daring goal as the nation must steeply reduce greenhouse gas emissions in a short span of time. ¡°It is not easy, but the Korean people have decided that now is the time for action,¡± President Moon said.

More Urgent Climate Action

The new goal seeks to lower emissions to 436.6 million tons of carbon dioxide equivalent in 2030 from 727.6 million in 2018. President Moon emphasized that Korea would phase out coal by 2050. ¡°Following the inauguration of my administration, eight coal-fired power plants were shut down earlier than originally scheduled,¡± he said. ¡°By the end of this year, two additional plants are scheduled to close. We will put a complete end to coal-fired power generation by 2050.¡±

In addition, President Moon joined the Global Methane Pledge along with nearly 40 countries to cut methane emissions by 30 percent by 2030. Methane is an important key to addressing the climate crisis because it contributes to the greenhouse effect much more than carbon dioxide.

The nation will also raise the share of its annual generation of renewable energy up to 30 percent by 2030, from 7 percent in 2020. For this, the government will speed up efforts to supply more electric and hydrogen-powered cars and increase sources to absorb greenhouse gases.

Efforts will be made to grow more trees and reviving forests, as well. Calling trees ¡°living greenhouse gas sinks,¡± the president promised to lead collective forest restoration efforts. Lastly, the nation will cooperate with developing countries on their transition to a low-carbon economy by continuing financial support for them through the Green Climate Fund and the Global Green Growth Institute.

Time for the World to Act Together

World leaders praised Korea¡¯s upgrading of NDCs and determination to overcome the climate crisis. Especially, there are high hopes that Korea, one of the advanced countries in the world that has a humble beginning as a developing country, will play a leading role as a bridge between advanced and developing countries in the climate actions.

The progress made in Glasgow is a crucial step toward the world working together to speed climate action and, ultimately, achieve the most ambitious goal of the 2015 Paris accord: to limit global warning to 1.5 degrees Celsius (2.7 Fahrenheit) above preindustrial levels.

As global temperatures already hit more than 1.1. degrees Celsius (2 degrees Fahrenheit) and climate-fueled extreme weather keeps wreaking havoc on many parts of the world, now is the time for the world to take bolder and more concrete action, before it¡¯s too late.

In this sense, the work for the Glasgow Climate Pact starts now, bringing together the world, once again, to jointly fight the climate crisis. Only when each country commits to its pledge made at COP26 over the coming years will the real impact of Glasgow become clear.