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2021 brought us the scientific certainty that climate change cannot be explained without human intervention. We can no longer look up as if we were not to blame. Ambitious calls for climate action from governments and multilateral agencies are a sign, but there needs to be a follow-through.
COP26 has now ended and the assessment about what it has achieved is mixed — positive for the commitments obtained, but negative because they are still not enough. The Paris Agreement's goal of limiting the rise in global temperature to 1.5ºC has not been met and it is far from certain that it will be achieved.
COP26 will be held in the city of Glasgow, United Kingdom, from October 31 to November 12, 2021. The two possible major topics will be: 1) Greenhouse Gas (GHG) Emissions, and 2) Transition and promotion of cleaner and renewable energy sources.
We are just days away from COP26. According to its Nationally Determined Contribution (NDC), it is estimated that Mexico emitted 804 million metric tons of CO2e in 2020. As a signatory to the Paris Agreement, Mexico commits to reduce its Greenhouse Gases by 22% by 2030, in the unconditional case.
The recent agreement of the European Council and the European Parliament to reach climate neutrality by 2050 has sped up the global race in commitments to achieving zero greenhouse gas emissions.
One of the strongest price rallies in history for various commodities (e.g. oil, copper, steel) is consolidating in 2021. The speed of the upside movement could make you think that we are at the start of a new commodities supercycle. If we are, it would be quite different from the previous ones.
Climate change is an unstoppable wave on the horizon where consumption or investment decisions and public policies are made. Climate change mitigation must be bolstered by measures to adapt to its effects. In so doing, its impacts will be felt in waves rather than a tsunami.
The United Nations Environment Program's Emissions Gap Report 2020 estimates that greenhouse gas emissions will have fallen by between 2% and 12% compared to 2019, but a transitory decline is not enough.