COP26: What is the climate summit’s success rate?

Even as its capital was blanketed by toxic smog, India led the charge to weaken anti-coal pledges at the COP26 summit, with experts saying it is prioritising its economic growth over the planet's future. Photo: Prakash Singh/AFP

It said COP26 resulted in the completion of the Paris Agreement rulebook and kept the Paris targets alive, giving us a chance of limiting global warming to 1.5 degrees Celsius. Executive vice-president and EU lead negotiator, Frans Timmermans, said, “It is my firm belief that the text that has been agreed reflects a balance of the interests of all Parties, and allows us to act with the urgency that is essential for our survival.

“Our current global capacity is around 10,000 tonnes of CO2 removed per year through technological solutions, so we’re still several orders of magnitude away from what’s needed. “The current economic paradigm of growth at all costs must change now – but that’s simply not going to happen. The best we can do is find companies that are contributing the best and most positive solutions to a new, more sustainable economy, knowing that the legacy economy companies will ultimately die off. Unfortunately, that die-off will be too late. And political promises at this point are too little too late.

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