Negotiators from almost every country in the world gathered at the UN COP26 climate summit in Glasgow to reach an agreement to curb global warming and accelerate the transition to a cleaner economy.
Nearly 40,000 people attended the two-week summit. Overtime work ended on Saturday. Leaders signed the “Glasgow Climate Convention” after frantic negotiations at the last minute.
Coal and fossil fuels This is the first time the subject has been included in the final decision of the Conference of the Parties. The agreement requires countries to “speed up their efforts” to phase out “non-cut coal power”-referring to power plants that do not use technology to capture their carbon dioxide emissions.
It also called for an end to “inefficient” fossil fuel subsidies, but did not specify when it would happen. The clause also “recognizes” the need to support workers in these sectors to find other jobs.
This statement triggered a last-hour drama on Saturday night, when India and China downplayed the wording of coal from “phasing out” to “gradual reduction”—a change that caused COP26 chairman Alok Sharma to burst into tears and prompt He was very disappointed in those.
Loss and damage Countries seeking payment to help them cope with the impacts of climate change that they have already suffered will begin a “dialogue” to discuss funding a new organization to support them.
This UN agency will be committed to providing “technical assistance” to vulnerable countries to help avoid and respond to the consequences of climate change.
Developing countries proposed to set up an independent fund to help pay for losses and damages, but this was rejected by rich countries such as the United States, Europe, and Australia.
Climate finance The agreement “deeply regretted” that the rich countries failed to achieve their goal of providing 100 billion U.S. dollars per year to help developing countries in 2020, and promised that they would raise at least this amount each year until 2025.
adapt By 2025, rich countries are required to “at least double” their support for adaptation measures compared to 2019 levels, which will help developing countries prepare for climate change. This means that adaptation funding may be about 40 billion U.S. dollars per year, From 20 billion U.S. dollars in 2019.
Carbon market This was an element of the “Paris Rule Book” that was eventually closed. According to the so-called Article 6, these rules will create a market for units representing emission reductions that countries can trade.
Although many of the loopholes that climate experts feared have been resolved, the system will still allow some legacy credits for a limited time. These were created under the Kyoto Protocol and are considered to have questionable environmental integrity.
Although many developing countries have pushed for mandatory taxes on all credit to be used for adaptation funds, rich countries oppose this move. The final agreement includes voluntary contributions from countries to the fund.
Alleviate By the end of next year, countries are required to improve their national climate goals for 2030.
The current promise to warm the world by 2.5 to 2.7 degrees Celsius by the end of this century is far from the goal of the Paris climate agreement, which aims to limit global warming to well below 2 degrees Celsius, ideally 1.5 degrees Celsius, since the previous industry Times since the times.
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