The Climate Breakthroughs Summit | 28 May 2021

Why in News

Recently, world leaders convened at the Climate Breakthroughs Summit to demonstrate progress in critical sectors of the global economy, including steel, shipping, green hydrogen and nature.

Key Points

  • About:
    • This is a collaboration between the World Economic Forum, Mission Possible Partnership, the United Nations Climate Champions, and the United Kingdom (COP 26 Presidency).
    • It aims to demonstrate the need for systemic change to accelerate the global transition to a zero-carbon economy.
      • The “Zero carbon economy” refers to the green ecological economy based on low energy consumption and low pollution, where emissions are compensated by absorption and removal of greenhouse gases (net-zero).
    • One of its key campaigns is the ‘Race to Zero’ campaign that mobilises support of 708 cities, 24 regions, 2,360 businesses, 163 investors, and 624 higher education institutions to move towards zero-carbon recovery for a sustainable future.
  • Highlights of the Summit:
    • The United Nations made a call for coordinated action to secure global net-zero emissions and fulfill its goal of limiting global warming to 1.5 degrees Celsius compared to pre-industrial levels by 2050.
    • Maersk, the world’s largest container shipping line and vessel operator, joined Race to Zero with the commitment to halving the emission by 2030.
    • As many as 40 health care institutions worldwide have committed to halving emissions by 2030 and reaching net zero by 2050.
      • These 40 institutions represent more than 3,000 health care facilities in 18 countries.
    • The transitions of individual companies and institutions such as these are being supported by sector-wide plans, reflected in the revised Climate Action Pathways, launched with the Marrakech Partnership for Global Climate Action.
      • The pathways set out sectoral visions for achieving a 1.5°C resilient world in 2050, providing a roadmap to help countries and non-State actors alike to identify actions needed by 2021, 2025, 2030 and 2040 to deliver a zero-carbon world in time.
  • Significance:
    • Decarbonizing both heavy industry (aluminium, concrete and cement, chemicals, metals and mining, plastics and steel) and light industry (consumer goods, fashion, ICT and mobile, and retail) is technically and economically feasible.
    • This can be done through reducing materials and energy use; increasing their productivity; and decarbonising production processes while implementing transitional solutions such as natural climate solutions where direct emissions reduction cannot be achieved.

Marrakech Partnership for Global Climate Action

  • It supports implementation of the Paris Agreement by enabling collaboration between governments and the cities, regions, businesses and investors that must act on climate change.
  • The focus is on environmental, economic and social system transformation, promoting higher ambition of all stakeholders to collectively strive for the 1.5 °C temperature goal and a climate-neutral and resilient world.

Race to Zero Campaign

  • Race to Zero is the UN-backed global campaign rallying non-state actors – including companies, cities, regions, financial and educational institutions – to take rigorous and immediate action to halve global emissions by 2030 and deliver a healthier, fairer, zero-carbon world in time.
  • Race To Zero mobilizes actors outside of national governments to join the Climate Ambition Alliance.

Climate Ambition Alliance

  • The CAA currently includes 120 nations and several other private players that have committed to achieving zero net greenhouse gas emissions by 2050.
  • Signatories are responsible for 23% of current greenhouse-gas emissions worldwide and 53% of global GDP.
  • India is not part of this Alliance.

Source: DTE