For the past few weeks, world leaders have been in serious talks over how to tackle the issue of climate change, with discussions taking place at the COP26 climate summit in Glasgow.
As of today, an agreement has been reached, culminating in the new deal: the 'Glasgow Climate Pact'.
The deal calls on countries across the globe to strengthen their climate targets and assist in reducing global warming to no more than 1.5 degrees Celsius.
But according to COP26 spokespeople, the 1.5 degrees Celsius target will only survive "if promises are kept and commitments translate into rapid action".
So what exactly does this agreement entail, and where to from here?
Watch: the impact of climate change. Post continues below.
What is the Glasgow Climate Pact?
Government negotiators from nearly 200 countries were present in Glasgow, with 140 countries having strong intentions and commitments on climate change - Australia not being one of them.
The two-week conference was extended into an extra day of negotiations. Fortunately, the COP26 climate summit ended with a global agreement.
Four of the main findings include:
1. Aims to cap global warming at 1.5 degrees Celsius.
The agreement does aim to cap global warming at 1.5 degrees Celsius, but the actions put in place so far are not yet enough to meet this number.
According to the Climate Action Tracker, if all the commitments made in the lead-up to COP26 and at the summit were to be met, the world could be on a pathway to 1.8 degrees warming.
Scientists say that to go beyond a rise of 1.5 degrees Celsius would unleash extreme sea-level rise and catastrophes including crippling droughts, monstrous storms and wildfires far worse than those the world is already suffering.
2. Less reliance on fossil fuels.
The pact has also called on countries to start shifting to clean energy sources and accelerate efforts to phase down coal power and fossil fuels.
During the last-minute negotiations, the language used in the deal was changed from "phase out" to "phase down" in relation to coal power. This essentially means there has not been a commitment to the elimination of coal power, rather a decrease, which has left many frustrated.
3. Financial support for poorer nations affected by climate change.
The deal gave the poorest nations more promises, but no guarantees, that they would finally get more of the financial help they have long been told they will get.
A UN committee will also report next year on progress towards delivering the $US100 billion per year in overall annual climate funding that rich nations had promised by 2020 but failed to deliver.
Yet even $US100 billion a year is still short of poorer countries' actual financial needs, according to the United Nations.
4. A landmark new pledge on deforestation.
Over 130 nations including forestry giants such as Brazil and Indonesia, as well as Australia, signed a pledge to end deforestation by 2030. Brazil later clarified however that it would only end "illegal logging".
The deal was accompanied by a commitment of $US19 billion to help protect forests.
But ultimately, there is concern this climate pact is too little too late, encouraging incremental progress rather than immediate action.
"Our work is far from done. The real test is going to be whether the Glasgow summit manages to kick-start a truly transformation decade of climate action," said Simon Bradshaw, the Head of Research for Climate Council.
Climate change activist Greta Thunberg was also left doubtful over the validity of COP26, suggesting that stronger promises and action are needed.
Feature image: Getty + Mamamia
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