Context:
Bonn Climate Change Conference concluded
Highlights:
- Progress was made toward better functioning international carbon market under Article 6 of the Paris Climate Deal.
- Article 6 of the Paris Climate Deal – Helps to achieve countries’ emission-reduction goals with 2 main market mechanisms
- Bilateral deals between countries
- A new global offset market
- Article 6 of the Paris Climate Deal – Helps to achieve countries’ emission-reduction goals with 2 main market mechanisms
- New Collective Quantified Goal (NCQG) on climate finance & negotiations on Mitigation Work Programme (MWP) remained main issues
New Collective Quantified Goal:
- Proposed in – COP21 for setting post-2025 climate finance goal (new goal).
- It proposed to raise floor on climate finance above current $100 billion annual target while addressing key shortcomings in current climate financing mechanism
Mitigation Work Programme:
- Established at – COP26
- Aim to urgently enhance mitigation ambition and implementation to achieve 1.5°C goal of the Paris Agreement.
Source: UNFCCC
Previous Year Question
Which one of the following is associated with the issue of control and phasing out of the use of ozone-depleting substances?
[UPSC Civil Services Exam – 2015 Prelims]
(a) Bretton Woods Conference
(b) Montreal Protocol
(c) Kyoto Protocol
(d) Nagoya Protocol
Answer: (b)
