2021
A Pivotal Year for Global Climate Politics
A Pact
breakdown.
No year has held more political importance and momentum than 2021 has for world action on climate change. The reemergence of American leadership on a global stage in the fight for climate change has galvanized nations worldwide to take serious action in these years' events.
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The G20 summit in Italy and the
COP 26 in Glasgow have emphasized
net-zero targets for the end of this century and more investment and infrastructure for sustainable energies.
To reach net zero emissions by 2050, annual clean energy investment worldwide will need to more than triple by 2030 to around $4 trillion.
However, daunting the task at hand might be the world is already taking shape to a transitioning greener world, "Over the last year the number of countries that have pledged to achieve net-zero emissions now covers around 70% of global emissions of CO2." (IEA)
Yet, we have already seen landmark changes happen in COP 26 as India announces their net-zero goal for 2070.
Nonetheless, simply cutting emissions from the atmosphere will not do enough to prevent the worst effects of climate change from occurring. We need to absorb and remove Carbon from the atmosphere. Two-thirds of the world's rainforests have already been deforested, which is critically detrimental to removing Carbon from our atmosphere.
While many people hold a lot of skepticism about meaningful change occurring as promises and targets can often lead to shortcomings, with an issue as pressing as climate change, the difference between a degree can mean massive global instability. The absence of China and Russia during the G20 summit also left a lot to be desired in the talks. The two hold an enormous amount of responsibility for global pollution and are integral in work ahead.
Economic damage annually is already costing the world an estimate
$445 billion;
the issue is worldwide responsibility and cooperation.
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innovations for sustainable markets and futures, the world of tomorrow will not be built on loosely based ideas of a greater picture, a foundational framework for the future of industries. We are thrilled about the opportunities in store with progress from both the G20 Summit and COP26 Summit. While both show great interest and passion for resolution, they also remind us that governments can seriously rewrite the history of our effect on our planet by focusing and breaking down these goals into tangible actions.
We at Pact view 2021 as a milestone year for climate change, which proves to be fruitful for carbon markets and the decarbonization of our planet.
With 2/3 of the Global Economy having net zero commitments (UN) within these decades, we will see the global industries and economies turn over a new leaf, a greener, more
2/3 of the Global Economy have net zero commitments.
While many innovative tools and technologies are currently being developed, like large-scale direct air captures, they are not as feasible as reforestation and market incentives. That is why the news of the summit's first significant deal with 105 members encompassing 85% of the world's forests claiming to end and reverse deforestations by 2030 is monumental in the global effort for a green world.
End and reverse deforestations by 2030 is monumental
Although the deals and missions that these nations are setting upon are creating countless opportunities and