With the goal of zero emissions of polluting gases by mid-century, the COP26 climate conference taking place in Scotland announced that 450 large financial firms from 45 countries have pledged to invest more than 100 billion euros in the transition. towards a decarbonised economy by 2050. Participants will have to design science-based green finance plans and set intermediate targets for 2030.

As the situation is, the Balearic Islands would lose more than 800 hectares in the worst case scenario because they would be flooded in 2050 due to the increase in the water level between 18 and 35 centimeters, according to a team of researchers from the UIB, the IMEDEA (CSIC -UIB) and the SOCIB that have prepared a study on the effects of climate change.

On Monday, at the opening of the summit of world leaders, the head of the United Nations, António Guterres sent a harsh message to the world. “We are digging our own grave,” he said, referring to the addiction to fossil fuels that threatens to lead humanity and the planet over a cliff, due to unsustainable global warming.

In line with Guterres’ words, the challenges at the summit are colossal. He intends to secure millions of financing and define the rules of implementation of the Paris Agreement with the consent of the 175 countries that signed it in 2015.

The head of the UN called for greater determination to mitigate the effects of climate change and take concrete and immediate actions to reduce global emissions by 45% by 2030; an effort that must be led by developed countries.

“The G20 countries have a special responsibility, since they account for about 80% of emissions,” he said, making it clear, however, that emerging economies also have to go the extra mile.

“We need the highest level of ambition from all countries and on all fronts for Glasgow to be a success,” he added.

UN Climate Change Conference. Photo: United Nations.