Funding for loss and damage done by climate change caused by the rich to the lives and infrastructure of the impoverished was blocked by the UK, EU and US. The Global Methane Pledge, an initiative announced by the EU and the US at the start of COP26, is largely about making leaky fossil fuel infrastructure more efficient--the lowest of low-hanging fruits. The pledge by some countries to end deforestation by 2030 has left many Indigenous activists who live in those forests with rolling eyes, and the new voluntary nationally determined contributions don't add up to enough to prevent 1.5degC of warming.
In any case, there's not much reason to believe the governments that signed the draft will take action. The world banned torture in 1987, but most states signed the convention, then ignored it.
Lots of alarms, but no surprises
None of this should surprise us. After all, the conference was built atop a crumbling neoliberal world order. Even its stated aim--to find ways to reach 'net zero' by the middle of the century--is dubious.
"This term is being used to cover up a multitude of sins. Because when people are talking about net zero, they're essentially talking about offsetting," said Nick Dearden, director of the non-governmental organisation, Global Justice Now, when chatting with me in a cafe on the Broomielaw, once the heart of Glasgow's shipbuilding district.
Of the conference's climate finance deal, which was agreed last Tuesday under the gavel of "rockstar central banker" and, if rumours are to be believed, wannabe Canadian prime minister Mark Carney, Dearden added: "A lot of this finance package is about net zero in that sense--offsetting emissions, which doesn't necessarily mean reducing your emissions at all."
It could mean increasing your emissions, while paying to 'offset' them with something else "which may or may not be useful," or even worse, offsetting them "with the vague notion that some as yet unidentified technology might help us to reduce these emissions," he said.
Perhaps most importantly, the 'net' in net zero often represents false accounting: you can't plant trees to make up for flights taken by your firm, because we need to both reforest the world and stop flying.
Any cynicism about carbon-trading and notions of 'net zero' is surely confirmed when you look at who is pushing them. The International Emissions Trading Association, which hosted a space at the core of COP26, is a representative body for many of the world's biggest polluters.
"The heart of it is that the government is obsessed with nudging the market," said Dearden. "And, of course, it isn't going to work. The market is going to be completely unable to deal with what's happening.
"Ultimately, you look at the global economy that we've created over the last 40 years, the neoliberal global economy--that's what's driving climate change. And no wonder, because the logic at the heart of that economy is that there is no right more important than the right to make profit.
"The whole economy is geared towards extremely short-term profit maximisation, no matter what the consequences are. And so what that essentially means is that you extract from workers, you extract from the Global South, you extract from the environment, you extract from future generations in order to make a profit today.
"Most of those issues around the global economy were not even on the agenda, not even talked about here at all. I think that goes to the heart of what the problem is. The governments, like the British government, that are really driving the process, want as much as possible to stay the same. They certainly don't want to interfere in rules that were put there in the first place to keep some countries rich, and some people rich and other countries poor.
"We have a global economy which hands monopoly power to massive corporations so they can extract rent from the rest of the world," he said. The World Trade Organization's 1995 Agreement on Trade-Related Intellectual Property Rights (known as 'TRIPS') is one example of something that wasn't on the agenda at COP26 but should have been.
"The TRIPS agreement was created by the pharmaceutical industry so that they could exert monopoly power on the rest of the world and profiteer. That's been bad enough when it comes to vaccines and essential medicines. Imagine what that's going to be like when a handful of multinational corporations monopolise the green technologies that we need to run low carbon economies. We need to begin dismantling it, we need to put climate waivers in at least as a minimum, exactly like we're talking about with vaccines."
But these sorts of ideas, he added, are "not even mentioned by anybody ... It's just nowhere in the discussion".
Blame India and China
For the British government, COP26 was a chance to take on a starring role in the soap opera of global politics. By that measure, the whole thing was a failure. The hosts won the 'carbon dinosaurs' award on the first day for making the conference what climate activist Greta Thunberg described as the "most excluding COP ever". The waits in lengthy outdoor queues, as winds swept up the River Clyde, were the talk of the first couple of days. As journalist George Monbiot pointed out, Boris Johnson fell asleep in the opening plenary then shot off in a private jet for dinner with a climate sceptic.
The only reason I can think of that the UK government chose Glasgow as a location was in the hope of upstaging Nicola Sturgeon on her own territory, and in that, it clearly failed. Scotland's first minister looked like the true host in her home city. Without a seat at the table, she stood on the stage. This weekend, a Scottish National Party (SNP) activist delivered a leaflet to every house on my street: "Scotland helped lead the world into the industrial age. Now, we're proud to help lead the world into the net-zero age."
If the SNP can rely on its vast membership to deliver its message, then the Tories have to fall back on the official media, which, in the UK, has largely divided into two categories: those that have declared the whole thing a success and those that blame India and China for its failure.