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Leaders Summit on Climate

April 22, 2021
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In News: On Earth Day, 22 April, the US President Joe Biden has decided to host a meeting with the world’s leaders titled the ‘Leaders Summit on Climate’. 

About Leaders Summit on Climate

  • Summit is a precursor to the United Nations Climate Change Conference (COP26) that will take place later this year in Glasglow.
  • The Leaders Summit on Climate is a two-day event that will begin on 22 April and end on 23 April. 
  • It will be a virtual event owing to the pandemic making travel impossible. 
  • The event will be streamed online and available for the public to watch.
  •  It is a forum that gets together the 17 major economies that are responsible for approximately 80 percent of global emissions as well as global GDP. 
  • They are:
    • Australia
    • Brazil
    • Canada
    • China
    • the European Union
    • France
    • Germany
    • India
    • Indonesia
    • Italy
    • Japan
    • Korea
    • Mexico
    • Russia
    • South Africa
    • the United Kingdom
    • the United States

The Main Objectives of this Summit are

  • Get the world’s major economies to reduce emission in this decade while also getting the public and private sector involvement.
  • Show how climate action can have economic and social benefits. Build new businesses and industries.
  • Using the technology available to adapt to climate change but also reduce emissions. Use nature-based solutions to achieve net-zero emissions by 2050.
  • Protect lives and livelihoods by finding ways to adapt to climate change.

What exactly is net-zero?

  • The term “net-zero,” also known as “carbon-neutrality,” does not imply that a country’s emissions would be zero. 
  • Rather, net-zero is a condition in which a country’s emissions are offset by greenhouse gas absorption and elimination from the atmosphere.
  • More carbon sinks, such as forests, can absorb more pollution, while futuristic technology, such as carbon capture and storage, are needed to remove gases from the atmosphere.

Net-zero Call For

  • For the past two years, a vigorous campaign has been underway to persuade every nation to commit to a net-zero target by 2050. 
  • It is proposed that achieving global carbon neutrality by 2050 is the only way to meet the Paris Agreement’s goal of limiting global warming to 2°C above pre-industrial levels.
  • No country is assigned any pollution mitigation goals under the net-zero formulation.

The Paris Agreement and Net-Zero

  • The 2015 Paris Agreement, which established a new global framework to combat climate change, does not include a net-zero target.
  • Any signatory to the Paris Agreement is only required to take the best possible climate action.
  • Countries must set five- or ten-year climate goals for themselves and be able to demonstrate that they have met them.
  • The other stipulation is that each subsequent time frame’s goals must be more optimistic than the previous one.
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Source: Indian Express
Tags: News PaperPrelims

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