COP26 marks Energy Day in Glasgow
Today marks Energy Day at the 26th UN Climate Change Conference of the Parties (COP26) summit in Glasgow today.
Energy Day focuses on how countries can look to switch to cleaner power in order to meet the goals of the Paris Agreement.
COP President Mr. Alok Sharma said Energy Day is central to the efforts at COP26 to keep the Paris Agreement goal within reach.
He said it is important to decarbonize our power sectors as power accounts for 1/4 of global emissions.
The Global Coal to Clean Power Transition statement is being published at COP26 today.
It is a commitment to end coal investment, to scale up clean power, and to ensure a just transition to phase out coal in the 2030s.
The statement includes 77 signatures, including 44 countries, 23 of which are making commitments to ending coal for the first time.
The global transition to clean power needs to progress 4 to 6 times faster than at present to meet the goals of the Paris Agreement and to limit global temperature rises to 1.5 degrees, according to the UK government.
The department for Business, Energy & Industrial Strategy said: "With coal being the single largest contributor to climate change, phasing it out and delivering a rapid, inclusive transition to clean energy is essential if we are to keep 1.5 degrees alive."
Alok Sharma said: "The end of coal is in sight."
"We wanted to push to end international coal financing, countries to phase out coal at home, we wanted to build collaboration to support the move to clean power, and to ensure the transition was just." he said.
Doing this will benefit the environment, create good, green jobs and clean up the air, added Mr. Sharma.
Today, countries are beginning to choke off international coal financing and there is a shift away from domestic coal power which was a 'lofty' ambition when the presidency was taken over in 2019, according to the COP President.
At the G7 climate environmental ministerial meeting in May, every G7 nation committed to ending international coal financing this year including South Korea and China.
The group committed to decarbonizing power systems in the 2030s, said Mr. Sharma.
The COP President said progress is welcome but there is more to be done and ultimately it is up to everyone to continue building the momentum through alliances and collaborations.
"A brighter future comes ever closer in this 'vital decade'; a future of cleaner air, cheaper power, and good, green jobs," he added.
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