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UN Climate Change Conference UN Climate Change Conference Recently, world leaders convened at the 'Climate Breakthroughs Summit' to stage progress in critical sectors of the global economy, including green hydrogen, steel, shipping and nature. This is a co-partnership between the Mission Possible Partnership, World Economic Forum, The United Nations Climate Champions and the United Kingdom (COP 26 Presidency). Its purpose is to accelerate the global transition to a zero-carbon economy, demonstrating the need for systemic change. "Zero carbon economy" refers to a green ecological economy based on low energy consumption and low pollution, where emissions are offset by the absorption and removal of greenhouse gases. A 'Race to Zero' campaign is one of its major campaigns. It is supported by 708 cities, 24 regions, 2,360 businesses, 163 investors and 624 higher education institutions to move towards a zero-carbon recovery for a sustainable future. Features of the conference: The United Nations called for a coordinated action to reinforce global net-zero emissions, and to meet its goal of limiting global warming to 5°C of temperature below pre-industrial levels by 2050. The world's largest container shipping line and the ship operator, 'Maersk', have joined the 'Race to Zero Campaign' with the goal of halving emissions by 40 health care institutions around the world have committed to halve emissions by 2030 and reach net zero by The transformation of such individual companies and institutions is being supported by sector-wide schemes, reflected in the revised Climate Action Pathway, launched with the Marrakech Partnership for Global Climate Action. The pathways set out sectoral visions for achieving a 5degree resilient world in the year 2050, providing a roadmap to assist and help countries and non-State actors alike to identify actions needed by 2021, 2025, 2030 and 2040 to deliver a zero-carbon world in time. Significance Decarbonizing heavy industry (concrete, Aluminum and cement, metals and mining, chemicals, plastics and steel) and light industry (fashion, consumer goods, retail and ICT and mobile) is technically and economically feasible. Race to Zero Campaign Non-state actors (companies, cities, regions, financial and educational institutions) have been included in the United Nations-backed Race to Zero campaign. This requires drastic and immediate action by 2030 to halve global emissions and provide a healthy, fair, zero-carbon world. Race to Zero mobilizes external leaders of national governments to join the Climate Ambition Alliance. Climate Ambition Alliance The Climate Ambition Alliance currently consists of 120 countries and several other private partner organizations committed to achieving the net-zero greenhouse gas emissions objective by 2050. Signing nations or private partners are responsible for 23% of the currently emitted greenhouse-gas worldwide and 53% of global GDP. India is not a part of this alliance. Source: The Hindu Download Our App MORE CURRENT AFFAIRS

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