BLUF
This article argues that Australia needs to attend the UN Climate Change Conference of the Parties (COP26) to maintain our international reputation and our future prosperity.Summary
PM Morrison is expected to attend the COP26. Key points are:
- The 2015 Paris Agreement committed each nation to increase their emissions reduction targets every five years.
- The initial goal is to limit global warming to 1.5℃ by 2050.
- CPO26 is to check if that’s achievable and stop 3℃ warming this century.
- Three ℃ might be a tipping point, threatening both humans and nature.
- 191 of the world’s 195 countries are signed up.
- Now countries representing more than two-thirds of the global economy have firm dates for achieving net-zero emissions.
- The US, UK, EU, Japan and Canada have strengthened their 2030 targets.
- Private and public investment is flowing to clean energy.
Australian Implications
- Key world leaders expect deeper cuts from us.
- Business wants emissions cut by 46-50% by 2030.
- Worldwide, wind and solar are now cheaper than coal and gas.
- Opportunities abound for batteries, electric vehicles, renewable energy, lithium, cobalt and rare earths.
