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The pledges and deals made at the COP26 climate summit at Glasgow might limit global warming to 1.8 degrees Celsius by the end of the century if they are fully executed and on time, citing IEA analysis.
Fatih Birol, IEA chief said, “Big news #COP26 climate pledges mean Glasgow is getting closer to Paris!”
“New @IEA analysis shows that fully achieving all net-zero pledges to date & the Global Methane Pledge by those who signed it would limit global warming to 1.8 C,” Birol tweeted. “A big step forward, but much more needed!”
It is the first time that nations have proposed objectives that are ambitious enough to keep global warming below 2 degrees Celsius, Birol called it a “landmark moment” in a statement.
Taking notice of the IEA study, he encouraged delegates to the United Nations meeting to keep in mind that, even if temperature estimates improve, we must not lose sight of the 1.5C target.
A worldwide agreement reached in Paris in 2015 established the aim of preventing global warming over 1.5 degrees Celsius, which experts believe will avert the most severe and irreversible effects of climate change.
The IEA has stated that to reach it, the world must stop investing in new fossil fuels.
Read more: Bill Gates expresses concern, doubts on attainability of 1.5 degrees global warming limit
In a push to phase out fossil fuels, 20 countries, including the United States, Canada, Italy, Switzerland, and New Zealand have agreed to end financing for fossil fuel projects abroad in a deal announced Thursday at the COP26 climate summit.
Moreover, Poland, Vietnam, Chile, and other nations committed for the first time to phase out domestic use of coal power while excluding the world's most coal-dependent countries, like Australia, China, and India.
Inputs from Reuters
Picture Credits: Wired