Rewind 2021: The key highlights of COP26 summit and India's stance

The 2021 United Nations Climate Change Conference, more commonly referred to as COP26, was held in Glasgow this year, under the co-presidency of the United Kingdom and Italy with over 190 members participating to take concerted action on climate change.

The 2015 Paris Agreement was crucial as countries agreed to keep global warming "well below" 2 degrees and try to aim for 1.5 degrees. Another important decision was to set a goal to keep cutting emissions to reach net-zero by 2050. But this year at COP26, the key issues that were discussed included Climate Change Mitigation, Reduction in greenhouse gases emission globally, Climate financing for developing countries, phasing out of coal among other issues.

The key agreements included the United States and China—the biggest carbon dioxide emitters—pledged to cooperate more over the next decade. The other controversial decision was on phasing down of coal rather than phasing out, first time there was an explicit plan to reduce the use of coal. The late intervention by China and India to phasing down means that there is no particular timeline to end coal use even as coal is responsible for 40 percent of annual carbon dioxide emission.

Apart from this, more than 100 countries promised to stop deforestation by 2030, cut methane emissions by 30 percent by the year 2030. Over 80 countries endorsed the 'One Sun, One World, One Grid' declaration. Plus, financial organisations with over $130 trillion control agreed to back clean technologies.

India committed to achieving a net-zero emission by 2070. It said it would source 50 percent of energy from renewable sources and hike renewable capacity of 500 GW by 2030. It would cut emissions intensity by 33-35 percent of GDP from 2005 levels by 2030.

In terms of action, India has already achieved a 24 percent reduction in emission intensity. 40 percent of its power comes from non-fossil sources. And it has announced a green hydrogen mission to cut methane emissions.

Despite the commitments, the global average temperature is expected to rise by 1.8°C above the pre-industrial era, under the most optimistic scenario. And experts suggest the most likely outcome is the increase of 2.4°C. This means we need more ambitious actions and execution to face the climate challenge.