What’s at stake at the COP26 climate summit? Here’s a guide to the make-or-break issues

Published

4 years ago

October 30, 2021

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LONDON — World leaders are under huge pressure to outline how they plan to reduce emissions and mitigate climate change at one of the most important diplomatic summits in history.

The major climate event, known as COP26, will take place in Glasgow, Scotland from Sunday through to Nov. 12. It was initially scheduled to be held last year but was delayed due to the coronavirus pandemic.

Diplomats and world leaders have sought to downplay expectations of success in the run-up to the summit, although a position paper of more than 100 developing countries representing more than half of the world has insisted there can be “no more excuses for unfulfilled promises.”

To have any chance of capping global heating to 1.5 degrees Celsius above pre-industrial levels, the aspirational goal of the 2015 Paris Agreement, the world needs to almost halve greenhouse gas emissions in the next 8 years and reach net-zero emissions by 2050.

Climate scientists have repeatedly stressed that the best weapon to tackle rising global temperatures is to cut greenhouse gas emissions — fast.

Johan Rockstrom, director of the Potsdam Institute for Climate Impact Research and one of the world’s most influential Earth scientists, told CNBC that he believes the success of COP26 will come down to negotiations on five make-or-break issues.

These are mitigation, climate finance, carbon pricing, nature solutions and the phasing out of fossil fuels.

Mitigation

“We must, at a minimum, have 195 countries aligning with science in their plans — not even delivering, but just in their plans — and that requires net zero targets by 2050 at the latest,” Rockstrom said.

“We only have a small number of countries that have done that so far,” he added, noting that countries such as Indonesia, Russia and Brazil were all yet to publicly declare net-zero targets by the middle of the century.

A U.N. report published earlier this week found new and updated Nationally Determined Contributions put the world on track for a dangerous global temperature rise of at least 2.7 degrees Celsius by the end of the century — even if plans were fully met.

NDCs are the efforts of each country to reduce national emissions. At present, the U.N. says updated NDCs would only lead to an additional 7.5% reduction in annual greenhouse gas emissions compared to previous commitments.

Climate activists “set fire” to George Square, Glasgow, with an art installation of faux flames, smoke, and banners, and giant fire extinguishers, creating a field of climate fire to welcome world leaders to Glasgow for the Cop26 conference.

Andrew Milligan | PA Images | Getty Images

Farhana Yamin, a climate lawyer and advisor to the Climate Vulnerable Forum, told CNBC via telephone that COP26 must trigger a profound “justice reset” if it is to be considered a successful summit. “Success can only come from grasping hard truths, speaking honestly and recognizing the situation of vulnerable countries.”

It is not good enough, she added, for those at COP26 to continue talking about their optimism for the future when countries are nowhere close to meeting the demands of the climate emergency.

“Beating the drum and calling it optimism isn’t cutting the mustard with anybody. Optimism isn’t solving the lives of developing countries or vulnerable groups right now who are facing the consequences of failure,” Yamin said.

“It’s like a further insult. What is optimism for a country that is now facing complete devastation?”

Finance

High-income countries promised in 2009 to deliver $100 billion a year for five years from 2020 to help low-income countries pivot away from fossil fuels and protect against climate breakdown. This Paris Agreement target has still not been fulfilled and is not expected to be met until at least 2023.

“In all honesty, this is really just small money,” Rockstrom said, noting the trillions of dollars in bailouts spent by global governments in an effort to recover from the coronavirus pandemic.

“We are talking about the trillions that are needed to have a full 100% transition of investments from fossil-fuel-based infrastructure to renewable infrastructure so that we can really see decisive change and direction. There must be a finance discussion.”

Stop pretending loss and damage isn’t happening and find a way to fund it.

Farhana Yamin

Climate lawyer

Climate finance is widely regarded as a critically important issue, particularly when it comes to repairing global trust.

“Success would be for countries to stop playing games with the issue of loss and damage and actually fund it,” Yamin said. “Stop pretending loss and damage isn’t happening and find a way to fund it.”

Carbon pricing

To its proponents, carbon pricing is seen as an important way to incentivize emissions reductions and help low-carbon technologies compete with established, heavily polluting alternatives.

To its critics, however, Article 6 of the Paris Agreement risks undermining the ambition of the accord at a time when there is overwhelming evidence of the need to go further and faster to avoid climate tipping points. This is because some fear carbon trading arrangements could allow countries to hit already-weak targets without cutting additional emissions.

“The third part which, whether we like it or not, has to be on the table is a price on carbon. That has to be discussed globally,” Rockstrom said.

Electricity pylons are seen in front of the cooling towers of the coal-fired power station of German energy giant RWE in Weisweiler, western Germany, on January 26, 2021.

Ina Fassbender | AFP | Getty Images

He argued that COP26 represented a “completely new situation” when it came to carbon pricing because, for the first time, Europe’s Emissions Trading System was “starting to bite” polluting industries.

The EU’s benchmark carbon price was last seen trading at around 60 euros per metric ton, having stood at around 20 euros before the coronavirus pandemic. The price rise has resulted in some coal-fired power plants being shut down, Rockstrom said. “I think we will start seeing carbon pricing spreading and so that has to be on the table at a global level,” he added.

Nature

“The fourth part and perhaps the most important one for Glasgow is to make this the first COP meeting that is really a nature COP,” Rockstrom said. “It has to be the climate negotiating moment where we recognize that the only way to land the Paris Agreement, I mean the only way, is to secure the carbon sinks in nature — on land and in oceans. There is no carbon budget remaining unless we secure those sinks.”

Carbon sinks are natural areas, such as oceans and forests, that absorb more carbon than they emit.

Rockstrom suggested pricing carbon in biomass, in soils and in all ecosystems should be taken into account in the coming weeks.

The U.K. COP26 presidency has recognized the twin threats of climate change and biodiversity loss cannot be solved without addressing the other. Sustainable agriculture and land use and action on restoring forests and other critical ecosystems are set to be discussed in Scotland.

In an article published online for London-based think tank Chatham House earlier this month, Yamin suggested that considering the rights of nature through legal tools such as ecocide, for example, and the taking the interests of future generations should be on the table in Glasgow.

Another area to be considered, Yamin said, would be for COP26 to consider creating a post for a “High-Level Champion” to speak up for the incorporation of justice, equality, diversity and inclusion issues. She argued a COP-appointed position such as this could help to challenge greenwashing.

Phasing out fossil fuels

Burning fossil fuels, such as coal, oil and gas, is the chief driver of the climate emergency.

At COP26, Costa Rica and Denmark are expected to formally launch the Beyond Oil and Gas Alliance, the world’s first diplomatic alliance to manage the decline of oil and gas production.

It is coal, however, that is the most carbon-intensive fossil fuel in terms of emissions and therefore the most important target for replacement in the pivot to renewable alternatives.

A global energy supply crunch this year has coincided with a resurgence of coal production, raising serious questions about the so-called “energy transition.”

A freight train transports coal from the Gunnedah Coal Handling and Prepararation Plant, operated by Whitehaven Coal Ltd., in Gunnedah, New South Wales, Australia, on Tuesday, Oct. 13, 2020.

David Gray | Bloomberg | Getty Images

“We have to have a serious discussion on end-dates on fossil fuels use. An end date on coal and an end date on the internal combustion engine,” Rockstrom said.

“We’ve never had that moment arising in such a concrete way before. How do we create a way for the big emerging economies to seriously take on the challenge of phasing out coal in a way that allows a soft social landing? It is tremendously challenging but an absolute necessity.”

Research published in the scientific journal Nature on Sept. 9 found the vast majority of the world’s known fossil fuel reserves must be kept in the ground to have some hope of preventing the worst effects of climate change.

Environment

Vietnam setting bans on gasoline motorcycles next year, followed by cars

Published

3 hours ago

July 21, 2025

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Vietnam setting bans on gasoline motorcycles next year, followed by cars

Vietnam is taking bold steps to clean up its streets – and quiet them down. Starting next summer, the major downtown areas of Hanoi will ban all gasoline-powered motorcycles as part of a program to cut down on emissions.

The plan will go into effect on July 1, 2026, and then will expand the following year to cover more districts outside of downtown, and eventually include gasoline-powered cars as well. Other major cities like Ho Chi Minh City and Da Nang are now studying similar measures.

The plan is part of Vietnam’s national goal to phase out gas-powered two-wheelers entirely by 2045. And in a country where motorcycles are the lifeblood of daily transportation, with an estimated 72 million of them on the road, this marks a seismic shift.

The first phase of the ban will cover the Hoan Kiem and Ba Dinh districts of Hanoi within the Ring Road 1. These central areas are known for dense traffic, high pollution levels, and a thriving tourism industry. Officials hope that banning gasoline-powered motorbikes will reduce noise, smog, and carbon emissions while nudging residents toward cleaner electric alternatives.

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For now, the ban only affects motorcycles, but city officials have confirmed that it will extend to gasoline-powered cars in later phases. And while many Vietnamese cities have flirted with the idea of regulating vehicle emissions before, this marks the first concrete plan with a clear timeline. Ho Chi Minh City, the country’s largest urban area, is closely watching Hanoi’s progress and is said to be considering following suit.

Electric motorcycles and scooters are already a fast-growing market in Vietnam, led by homegrown companies like VinFast and Selex Motors. VinFast claims to have sold over 160,000 electric scooters as of early 2024, and Selex is rapidly expanding its battery-swap station network. But so far, electric two-wheelers only account for around 5% of the total market.

That number could soon change.

As gas-powered vehicles begin to disappear from urban centers, electric models may finally gain the upper hand. The government is also exploring support policies like financial incentives and improved charging infrastructure, both of which are key to getting more people to switch.

Still, there are hurdles. Many Vietnamese riders are hesitant to adopt electric bikes due to range anxiety, high upfront costs, and a lack of charging stations. But with regulatory pressure increasing and electric models becoming more affordable, the shift looks more like a matter of “when” than “if.”

Electrek’s Take

Vietnam banning gas-powered motorcycles is a big deal, and not just for local air quality. It’s also a major signal to the broader Southeast Asian market, where motorcycles vastly outnumber cars. If Vietnam can pull this off, it could become a model for electrifying personal transport in developing countries. Keep an eye on this one.

Each time I’ve visited Shanghai, for example, I’m amazed at how a pack of 30-40 motorcycles and scooters can whizz by with nothing but wind noise. China has set the example on how cities can clean up, quiet down, and improve their quality of life by mandating an end to gasoline-powered motorcycles. If other countries can replicate it in big cities, the improvement to local and global air quality would be massive, and that comes on top of all the hyper-local benefits like reductions in noise and urban grime.

That being said, one year is an incredibly fast timeline to shift literally millions of motorcycles to electric. It also doesn’t appear to address the financial burden this will put on residents who will have to replace their vehicle, even if locally produced electric scooters can be made affordable. I’ll be watching this one intently to see how officials can address these issues and if they can maintain this tight deadline. If they can pull it off, though, the face of major Vietnamese cities could change completely.

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Environment

Manitou and Hangcha commit to heavy equipment battery production JV

Published

9 hours ago

July 21, 2025

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Manitou and Hangcha commit to heavy equipment battery production JV

Manitou and Hangcha form lithium-ion battery joint venture

French equipment manufacturer Manitou has committed to a joint venture with Chinese forklift manufacturer Hangcha that will see the two companies develop and manufacture advanced lithium-ion batteries to support the electrification of the heavy material handler space.

Manitou is well-known in the West, so they need no introduction. Hangcha, though, is arguably just as capable of a company, having opened its first forklift plant in 1956, manufacturing others’ designs under license. They developed their own, in-house material handler in 1974, and have racked up hits ever since. Hangcha is currently the world’s eighth-largest manufacturer of industrial vehicles globally (sounds wrong, but here’s the source).

The plan for the JV is to upgrade the two companies’ deployed fleets of existing lead-acid battery-powered vehicle with longer lasting lithium-ion (li-ion) batteries to expand their operational lifespan. From there, the focus could switch to diesel retrofits and, eventually, the joint development of entirely new products.

“Deepening strategic cooperation with Manitou Group and jointly establishing a lithium battery joint marks a new phase in the partnership between the two sides, which is a milestone in Hangcha global industrial layout,” explains Zhao Limin, Chairman and General Manager of Hangcha Group. “Leveraging Hangcha’s core technological and manufacturing strengths in lithium battery solutions, we will collaboratively enhance solution capability of new energy industrial vehicle power systems. This partnership perfectly aligns with our shared objectives to accelerate electrification transformation and drive sustainable development, while providing robust support to the broader industrial vehicle market.”

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Manitou MHT 12330

MHT 12330 with 72,750 lb. lift capacity; via Manitou.

Once production begins, the joint venture factory will play a key role in supporting Manitou Group’s “LIFT” strategic roadmap. LIFT aims to expand Manitou’s electric vehicle lineup of telehandlers and forklifts, and have EVs account for 28% of total unit forklift sales by 2030. Hangcha Group, meanwhile, has publicly stated its intention to become 100% electric by the end of 2025.

This joint venture plans to recruit employees including engineers, operators, sales representatives and after-sales service technicians. Le Mans Metropole will support the recruitment and local integration and training of future employees.

SOURCE | IMAGES: Manitou; images by Manitou, via Belkorp AG.

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