What COP26 abandoning coal means for Mongolia – The Diplomat
Over the past two weeks, world leaders have gathered in Glasgow, Scotland – birthplace of the first industrial revolution – to find a tangible solution to the growing problems of climate change. The 26th United Nations Conference on Global Climate Change (COP26) has urged developed and developing countries to shift from coal-based to clean energy by redistributing investment from fossil fuels to climate-friendly solutions. ‘environment. As a result of this significant commitment, the long-term economic strategies of Mongolia and other coal-dependent countries will be profoundly affected.
Mongolia ratified Paris Agreement in 2016 and followed the necessary steps by establishing, reviewing and updating its Nationally Determined Contribution (NDC) every five years. Mongolia’s national concern for climate change stems from multi-level environmental issues, including air pollution, land degradation, desertification, and abusive mining practices that pollute the country’s water resources.
In 2019, Mongolia CDN set a target to reduce total greenhouse gas emissions by 14% below “business as usual” levels by 2030, using integrated national and cross-sectoral planning. However, at the Climate Ambition Summit in December 2020, then Mongolian President Battulga Khaltmaa said Mongolia could achieve a higher NDC target of 27.2% greenhouse gas reductions. whether conditional mitigation measures such as carbon capture and storage and waste-to-energy conversion technology have been implemented. The Department of Energy, Department of Transportation, and Department of Agriculture should all be involved in mitigation efforts.
Reducing local coal use is a start. Individual use of coal for cooking and heating homes may be locally limited due to its direct environmental effects and toxicity. However, the use of coal for energy grids will most likely continue, not only in Mongolia, but in other coal-dependent countries like Russia, China, Japan, South Korea, Australia, etc. . In Mongolia and other countries, obtaining the necessary financial resources to completely replace the old system of coal-fired power plants, both nationally and locally, is a major obstacle to the complete clean energy transition of here 2030.
Moreover, while coal and air pollution are closely linked, especially in the Ulaanbaatar region, the coal sector has a major economic importance in Mongolia, which gives it priority over any other question. The most recent developments during COP26 will challenge Mongolia’s coal sector while opening opportunities for investment in clean energy, technology and green initiatives with its partners around the world.
On Energy Day, 40 countries, including Canada, the United Kingdom, Poland, Chile and Vietnam have pledged to abandon coal and fossil fuel-based investments. Moreover, in a surprise move, in addition to China’s previous decision commitment to suspend funding for overseas coal-fired power plants that are part of Beijing’s Belt and Road Initiative, the United States and China – the world’s two largest emitters of greenhouse gases – issued a joint statement committing to reduce the use of fossil fuels. the joint statement said that “China will gradually reduce coal consumption during the 15th five-year plan [which covers the period from 2026 to 2030] and do our best to expedite this work. According to the International Green Finance Institute, China has already increase in expenses on clean energy initiatives.
At a time when Mongolia has stepped up its coal supply to China, China’s latest pledges – if followed through – are a warning sign for the Mongolian coal sector as a whole.
Russia, too, has slowly but surely formulated policy on climate change. The Carnegie Center in Moscow reported, “in less than two years, Russia has clearly formulated its climate priorities, including for the first time the climate emergency in its national defense strategy, implementing indicative planning to achieve the objectives set out in its low-carbon strategy and launching its first projects for the transition to green energy.
The fact that Russia and China are moving towards clean energy is an indication of both future challenges and investment opportunities.
The last COP26 conference highlighted the vulnerabilities of coal-dependent economies, including Mongolia but also Russia, China, Indonesia, India, etc. As both developed and developing countries are called upon to transform their energy sources, there must be a realistic and practical transition period, a methodology and, above all, financial resources to make such a change possible.
For example, Great Britain, France, Germany, European Union and United States promised $8.5 billion in grants to South Africa to ease the transition, while India, Indonesia and the Philippines have agreed to join South Africa’s Coal Transition Program, a pilot program of billions of dollars that can help with the transition to clean energy. Energy analysts to say that South Africa’s program is a new model, and the world is watching how South Africa will use these funds to determine if switching from coal to clean energy with foreign funding is a long-term sustainable solution .
While Mongolia is not yet equipped to completely stop its coal-fired electricity production, the country is working with European partners to limit CO2 emissions. Sources from the French diplomatic service said that “France has demonstrated an increasing role in the fight against deforestation, forest fires and investment in green energy and agriculture, in line with EU priorities towards Mongolia”.
To combat climate change, Mongolia has focused on forestry, land use and establishing a habit of planting trees. Mongolian President Khurelsukh Ukhnaa assisted the World Leaders Summit event at COP26. During the “Action on Forests and Land Use” segment, Khurelsukh said, “By planting a single tree, it creates the conditions for other plants and bushes to grow, absorbing carbon dioxide and trapping carbon dioxide. soil moisture – contributing to preventive action has been taken against land degradation and desertification. However, by planting hundreds and thousands of trees, it is possible to restore an area to its former state, while ‘by planting millions and billions of trees, it is possible to restore health to an entire region.
At COP26, “more than 130 countries, covering 90% of the world’s forests, are committed to halting and reversing forest loss and land degradation by 2030.” Mongolia is a signatory country to this “Declaration on Forests and Land Use”. land”.
Coinciding with COP26, Mongolia hosted three forums on the theme of climate change at the national level. First, the President’s initiative, the “a billion treeswas welcomed across the country and joined by 21 organizations fighting desertification in pledging to plant 600 million trees. Moreover, the National Forest Forum aimed to expand Mongolia’s forestry programs and demonstrated additional funding needs for important climate change projects involving reforestation, desertification mitigation and preservation of the country’s natural habitat.
The next five to 10 years are crucial for observing where the trend of global climate change is heading. As developed countries aim to tackle climate change, this raises an important question about how and if developing countries can cope with such an acute surge. Furthermore, it raises the question of whether developing countries possess the technological, economic and financial mechanisms to achieve these policy goals.
The rewiring of climate finance will force countries like Russia, China, Mongolia, Japan and South Korea to diversify their energy sources and economic activities. As a major coal-dependent economy, Mongolia’s strategic and global partners should intensify economic cooperation with Mongolia to truly help diversify its economy. Mongolia, in turn, can present a better business climate and better regulation.