Page 176 - HỘI THẢO KHOA HOC 18.5.2022

Finance on a private basis

Private financial companies and central banks have stated plans to shift trillions of dollars to
achieve worldwide net-zero emissions by the year 2050. Like the Glasgow Financial Alliance for
Net Zero, several such organisations have over 450 members from 45 countries with a combined
asset base of $130 trillion and require its members to adopt robust, science-based near-term
commitments.

Global greenhouse gas emissions are still well below the levels required to maintain a habitable
climate, and funding for the most vulnerable countries most affected by climate change is falling
far short of what is required. However, COP26 created new “building blocks” to aid in
implementing the Paris Agreement through initiatives that can put the world on a more sustainable
and low-carbon path going forward.

The poor climate record of Australia is brought to the attention of the world’s climate
leaders at COP26.

Australian Prime Minister Scott Morrison revealed his country’s commitment to achieving net-
zero carbon emissions by 2050 only days before coming to Glasgow, Scotland, for what was
described as a critical summit on global climate efforts.

However, he went on to say that he would not mandate the objective and would instead depend
on consumers and businesses to drive carbon reductions. Furthermore, despite its pride in its
abundant native wildlife and numerous environmental treasures, the country has done little in
recent years to suggest it will be a leading partner in the fight against climate catastrophe, even
though it remains a key ally of the United States amid tensions with China. When it came to
climate change, its actions during the summit did little to ease environmentalists’ anxieties.

Critics claim that Australia’s net-zero commitment was a hollow promise. Australia’s net-zero
commitment was announced in December. The country’s participation in the global summit only
demonstrated that the current conservative government is more committed to fossil fuel interests
than it is to addressing climate change in a meaningful way. When Merzian spoke by phone from
Glasgow during the last days of the summit, he claimed that the participants “wanted to offset the
criticism that they are not doing anything on climate change.” However, he added that they
accomplished “nothing more than that.” Mr David Ritter, CEO of Greenpeace Australia Pacific,
was similarly critical of Australia’s performance at the climate conference, and he was particularly
harsh.

Asked for a reaction by the media, NBC News was directed to Angus Taylor, the minister for
industry, energy, and carbon reduction, who had already made public statements.

Our Plan to achieve net-zero emissions by 2050 will see us act practically and responsibly to
reduce emissions and build on our track record of success. We will reduce emissions while
growing our economy, ensuring affordable and reliable energy supplies, and ensuring our regions
remain strong. Following the climate meeting, Taylor and Marise Payne, the minister for
international affairs, issued a joint statement in which they both praised the “Australian way.”

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