Being a recognized player in the realm of circular economy, Gemini Corporation was invited to the prestigious 2021 United Nations Climate Change Conference, commonly referred to as COP 26. Our Chairman, Mr. Surendra Patawari, was a part of this high-profile Conference held at the SEC Centre in Glasgow, Scotland, in the United Kingdom from 2-5 November 2021. Representing the HRH Plastic Task Force, Mr. Patawari had the opportunity to meet and discuss the key role of recycling in reducing carbon emissions amid eminent world leaders and dignitaries. The COP 26 Summit was extremely crucial vis-a-vis tackling climate change and avoiding the harmful effects of global warming. The result of the Conference was the Glasgow Climate Pact, negotiated through the consensus of the representatives of the 197 attending parties. This Pact is the first climate deal to explicitly reduce the worldwide usage of coal. Besides, it also encouraged cuts for greenhouse gas emissions and promised more climate finance for developing countries to adapt to climate-related changes. The all-important Article 6 on carbon markets, the focus of attention, was also adopted after six years, thereby finalizing the carbon market rulebook as stipulated by the Paris Agreement. Under this Agreement, the parties to the United Nations Framework Convention on Climate Change (UNFCCC) committed to shifting the world's course towards sustainable development and “holding the increase in the global average temperature to well below 2°C above pre-industrial levels and pursuing efforts to limit the temperature increase to 1.5°C above pre-industrial levels.” To achieve this goal, all the participating countries must set national Greenhouse Gas (GHG) emissions reductions targets as part of nationally determined contributions (NDCs). Article 6 also entails the establishment of a policy foundation for an emissions trading system intended to pave the way for a global carbon price. Additionally, this adoption will create new channels for climate finance and lead to technology transfer and capacity-building. However, all in all, COP26 has been a positive development for the planet. It is great that 100 nations have found consensus on significant issues like reducing methane emissions in the larger interest of the earth. Furthermore, it is commendable that NGOs like Greenpeace and Friends of the Earth International have put sustained pressure on companies and nations worldwide to come together and commit themselves to saving the Earth. It's remarkable to see that 100 nations have pledged to improve things to create a better future for our children and grandchildren.
Mr. Boris Johnson Prime Minister, United Kingdom
Mr. John Kerry United States Special Presidential Envoy for Climate
Mr. Rich Lesser Global Chairman,Boston Consulting Group (BCG)