Post COP26: Combatting Climate Change in Hong Kong and Beyond
Introduction
Climate change is progressing faster than anticipated, with significant impacts from heatwaves, droughts, forest fires, and rising sea levels. Human activities, particularly the release of carbon dioxide (CO2) and methane, are driving this change. Global CO2 emissions have increased by over 50% since pre-industrial levels, from about 278 parts per million (ppm) to approximately 417 ppm in early 2021. The global average temperature has risen by 1.2°C since the 1850-1900 period.
COP26 Highlights
At COP26, countries agreed to:
- Pursue efforts to limit global warming to 1.5°C, aiming for a 45% reduction in CO2 emissions by 2030 from 2010 levels.
- Achieve net-zero emissions by around mid-century.
- Deeply reduce other greenhouse gases.
- Finalize the "rulebook" for the Paris Agreement, addressing issues like international carbon trading and transparent reporting.
- Call for stronger emission reductions by 2030.
Key Pledges and Progress
- Net-Zero Commitments: There was a significant increase from 40% to 90% of countries committing to net-zero NDCs in the two years leading up to COP26.
- Private Sector Engagement: Many businesses pledged support for net-zero goals, showcasing the potential for private sector alignment.
- Financial Commitments: The finance sector committed to aligning $130 trillion of investment with the 1.5°C goal.
- Transport and Energy: Over 100 national governments, cities, and businesses committed to phasing out internal combustion engines by 2035 and ending deforestation by 2030.
- Coal Transition: 46 countries committed to stop building new coal-fired power plants, and countries accounting for 30% of global methane emissions agreed to reduce it by 30% by 2030.
Challenges
Despite these commitments, several challenges remain:
- If all current NDCs are fully implemented, projected global warming would still reach 2.4°C by 2100, which is catastrophic.
- Developed countries failed to meet the $100 billion per year mobilization goal by 2020.
- Some early-industrialized countries recognize their historical emissions.
Recommendations for Hong Kong
- Decarbonization and Adaptation: Focus on decarbonizing buildings and infrastructure.
- Clean Energy: Transition towards clean energy sources.
- Low- and Zero-Carbon Transport: Promote low-carbon transportation systems.
- Nature-Based Solutions: Implement nature-based strategies to enhance resilience.
Conclusion
The built environment must play a crucial role in mitigating and adapting to climate change. By following the climate action roadmap and implementing the five key steps, stakeholders can work towards achieving net-zero emissions and enhancing climate resilience. Collaboration among industry, policymakers, and the finance sector is essential to accelerate progress towards these goals.
