Recommendation 3

HM Government Acknowledged

3. In the Written Ministerial Statement that was laid in the House on 18 March the Government set out clearly the goals of the UK Presidency for a successful COP26. a) To ask countries to commit to net zero by mid-century, building on the 70% of world GDP covered by net zero targets as of Q2 2021. It is worth noting that when the UK assumed the role of incoming COP Presidency in December 2019, coverage was just 20% of global emissions and 26% of world GDP. b) To set the path to this, countries are being asked to come forward with ambitious 2030 emissions reductions targets (known as NDCs) which align with net zero goals. Internationally, we will also be looking to accelerate the phase-out of coal, encourage investment in renewables, halt fossil fuel subsidies and pick up the pace on electric vehicle roll out. All of these areas are critical to stop average global temperatures exceeding 1.5C. c) To urgently protect and help adapt our communities and natural habitats from the destructive effects of climate change. This will involve enabling and encouraging countries affected by climate change to build defences, warning systems and resilient infrastructure to avoid loss of homes and livelihoods. d) To increase funding to support these aims, making good on the $100bn annual climate finance goal affirmed through the Paris Agreement. We need to be in a position to unleash the trillions in private and public finance to meet global net zero. e) To close off the outstanding elements of the Paris Rulebook, and accelerate delivery of the Paris Goals through collaboration between governments, businesses and civil society.