COP26 is a two-week United Nations climate summit held in Glasgow, Scotland, where world leaders are gathering to discuss climate change and efforts to limit rising global temperature. Today, Thursday, November 4, is “Energy Day” at COP26. Discussions were centered around phasing out coal as an energy source and transitioning to clean energy alternatives. As the fourth day of the summit wraps up in the UK, we outline four highlights relevant to the alternative energy industry.
US Among 20 Countries to Pledge to Stop Financing Fossil Fuels Abroad
The US, Canada, Denmark and European Investment Bank were among the countries and development institutions who pledged to stop financing fossil fuels abroad by the end of 2022, and to instead funnel their money into clean energy. This pledge includes all fossil fuels, including oil and gas, instead of just coal; It also targets unabated fossil fuels, which are fossil fuels without the technology to carbon capture, which means their CO2 emissions are significantly higher.
28 Countries Pledge to Phase Out Coal, US Not Among Them
Twenty-eight countries have pledge to phase out coal, with leading U.K. lawmaker, Alok Sharma, proclaiming that “the end of coal is in sight” at COP26 today. These countries include Ukraine, Poland and Singapore. Notably absent from the pledge are some of the world’s biggest coal burners: China, the US, and India. With the addition of 28 new countries, there are now 165 countries and organizations in the Powering Past Coal Alliance (PPCA), an alliance working to advance the transition from unabated coal power generation to clean energy.
Energy Secretary Jennifer Granholm Urges the US to “Get in the Game”
In her speech today at COP26, US Energy Secretary Jennifer Granholm pointed out that as the “richest country in the world” and also one of its biggest polluters, the US needs to do its part to combat climate change. Granholm encouraged American businesspeople to create clean energy jobs in their prospective states. She also noted that it may not be too difficult for fossil fuel industry employees to transition to clean energy positions as many of these positions, such as geothermal power, require the same skillset.
Secretary of the Interior Challenges Every Country to Match US’s Offshore Wind Production Pledge
US Secretary of the Interior, Deb Haaland, spoke today about the current administration’s pledge to deploy 30 gigawatts of offshore wind energy by 2030. In her speech she challenged the rest of the world to match the US’s offshore wind energy target. To stay updated on the latest energy news and COP26 subscribe to our blog by clicking the link below.
“Climate change doesn’t recognize territorial or political boundaries… It’s a global problem that requires a global effort to address it.“– Deb Haaland
Looking Forward to Tomorrow
Tomorrow, Friday November 5, is “Youth Day” at COP26. Events on this day will emphasize the importance of elevating the voice of the youth and expressing the crucial role of public empowerment and education in fighting climate change. Young people in Glasgow are also expected to march through the streets taking part in the School Strike for Climate. Click to read updates from Tuesday and Wednesday of the conference.