Who will pay for the main agenda as the UN climate talks end, Reuters said

[ad_1]
© Reuters. One delegate took a picture of a diagram showing sea ice cover at the United Nations Climate Change Conference (COP26) on 11 November 2021 in Glasgown, Scotland, UK. REUTERS / Phil Noble
2/8
By Jake Spring and Valerie Volcovici
GLASGOW (Reuters) – As the last day of the two-week COP26 UN Climate Summit is approaching https://www.reuters.com/business/cop, delegates stepped up their efforts to reach a global warming agreement, focusing on finding money. to help developing nations cope with its worst consequences.
A first draft of the COP26 agreement on Wednesday implicitly endorsed the current commitments https://www.reuters.com/business/cop/whats-draft-deal-cop26-climate-summit-2021-11-10. www.reuters.com/business/environment/new-promises-glasgow-climate-talks-2021-11-02 were not enough to prevent climate catastrophe, and a mixed response was received by climate activists and experts.
However, an unexpected deal reuters.com/business/cop/un-climate-agency-publishes-draft-final-glasgow-deal-2021-11-10 later between China and the United States, the two largest greenhouses in the world. gas emitters https://www.reuters.com/business/cop/biggest-carbon-emitter-blame-game-troubles-cop26-talks-2021-11-11, raised hopes that nearly 200 national delegations could harden. collective commitments for Friday.
As a new draft is expected in the coming hours, support for poor nations that are most vulnerable to the floods, droughts and rising seas caused by “climate finance” or global warming is crucial in the negotiations.
The President of the British Conference, Alok Sharmak, said the latest draft conclusions observed show “significant” progress, but “we are not there yet”.
“I would like to address the critical need to step up our efforts today to get to where we need to be in order to achieve significant financial results,” he said.
Developing nations want tougher rules from 2025 onwards, after rich countries fail to meet their 12-year commitment to provide $ 100,000 billion a year by 2020 to help reduce emissions and cope with the effects of rising temperatures.
Wednesday’s draft simply “asked” to scale up aid to developed countries to “increase the need” to help the poor adapt to climate change, and asked for more financing through grants, which adds to the debt burden than loans.
The lost $ 100,000 billion goal is expected to arrive three years late, weakening the confidence of developing nations and shrinking some of them to make emissions reduction targets more ambitious.
Along with it, many campaigners say, however, that it is terribly inappropriate https://www.reuters.com/business/cop/that-sinking-feeling-poor-nations-struggle-with-un-climate-fund-2021-11- 11, is divided into a “mitigation” part to help poor countries in their ecological transition, and a “adaptation” part to help them manage extreme weather events.
A more contentious party, known as “losses and damage,” would compensate for the damage it has already suffered as a result of global warming, even if that is beyond $ 100,000 billion and some wealthy countries do not support the claim.
Poor countries say a tax on carbon markets would provide critical support but rich nations, including European Union states, are concerned about the costs.
“ACTIONS AND RESPONSIBILITY”
The host of the conference, Britain, says the COP26’s main goal is to “keep alive” the hope of lowering global temperatures by 1.5 degrees Celsius (2.7 Fahrenheit) above pre-industrial levels, still far from the reach of current national commitments to reduce emissions.
There has been growing scientific evidence that exceeding this threshold would result in worse heat waves, storms and fires than those that already occur, with irreversible consequences and then https://www.reuters.com/business/cop/risky-business-climate-change-turns -up -heat-insurance-insured-2021-11-11.
The jury is clear on whether the Glasgow talks are making significant progress towards the 1.5C target.
Some groups of thought are driven by agreements reached on issues such as deforestation, the reduction of strong greenhouse gas methane, and Wednesday’s draft addressed the issue of limiting fossil fuels.
Others indicate that commitments and deadlines are not clear enough, especially for major polluters such as China, India and Russia.
“What we need to know is the deeds, the details of the deeds and the responsibility to deliver them,” said Lindsey Fielder Cook, a climate change representative for the United Nations Office at Quaker.
On Thursday, a fledgling international alliance https://www.reuters.com/business/cop/beyond-oil-alliance-lands-members-shunned-by-uk-climate-summit-host-2021-11-11 to stop oil and the new gas wells added six members, but did not get support from major fossil fuel producers.
Wednesday’s US-China agreement combined recognition of the need to step up efforts to reduce temperature rise over the next decade, and Beijing made new commitments to reduce emissions and protect forests.
Aside from the specific commitments, which were scarce numbers, most observers agreed that the significance of the agreement was that the two global powers were often cooperating.
“The real good news of this agreement is that they talked, because in terms of content there are some general commitments to agree on a climate roadmap,” said Italian Ecological Transition Minister Roberto Cingolani.
The Climate Action Tracker research team said this week so far all national commitments to reduce greenhouse gases https://www.reuters.com/business/cop/world-track-24c-global-warming-after-latest-pledges-analysts – 2021-11-09 By 2030, if fulfilled, the Earth’s temperature would rise by 2.4 C by 2100.
The day before the closing of the COP26 Glasgow conference, Pope Francis, an ardent supporter of the climate, warned Scottish Catholics in a letter: “Time is running out.”
[ad_2]
Source link