Her meeting COP26 exceeded the time of completion with the negotiations in order to avoid its worst consequences continuing today (13/11). Compromises are being sought for aid to the poorest countries and for fossil fuels.
On Friday morning (12/11), the British presidency of its session UN on Climate Change has released a new, second draft final declaration. However, the plenary session in the afternoon brought to light that there is still a great difference of opinion between the 200 countries that have signed the ΣParis Agreement in 2016 and the negotiations continued late at night, well beyond the official closing time of the session (20:00 Greek time).
In theory, a new, amended text will be presented this morning, and a new plenary session will follow to reconcile the parties’ views, the president explained in a message. COP26, The Alok Sarma, who hopes that the marathon talks will be completed within the day.
Possible failure of this COP would further narrow the scope for achieving its goal Σof the Paris Agreement, that is, to reduce the increase of the planet’s temperature “below” 2 ° Celsius in comparison with the pre-industrial era and to reach 1.5 ° Celsius if possible.
The planet is still heading for a “catastrophic” temperature rise of 2.7 °, warns UN, despite the new 2030 horizon commitments announced shortly before the COP26 and during it.
The economic aspect for the poorest countries
One of the issues that is causing the sharpest controversy: the economic aspect of the poorest countries – which are less responsible for climate change but are at the forefront of its consequences – to reduce their emissions and prepare for the extreme weather phenomena, heat waves and droughts, which are multiplying.
THE PiPrime Minister of the United Kingdom, Boris Johnsonhe said in front of his camera BBC how he wants to see rich countries put “money on the table” to “help developing countries make the necessary changes. That must be done in the next few hours. ” “We can not have it all in this COP – but we can start,” he added, but seemed less optimistic than before the summit about achieving its stated goal of “staying alive. target) for 1.5 ° Celsius “.
In 2009, rich countries pledged to increase their assistance to the poorest countries in tackling climate change by 2020. $ 100 billion a year. The promise has never been kept, exacerbating the resentment of developing countries in the wake of the global health crisis, which is making things even more difficult for them.
The draft final declaration calls on rich countries to fulfill, even surpass, their unfulfilled promise. And to double by 2025 their aid, which will be specifically dedicated to climate change adaptation, while funding for emissions reduction will be 75% of the total.
These commitments are not enough, developing countries oppose. “Our” trust “has now” become pieces “, her representative underlined Kenya.
The poorest countries, which account for a small share of global emissions, insist that funding take into account the “losses and losses” that are increasingly occurring.
But at this stage the draft of the final declaration simply proposes to speed up the implementation of objectives that had already been set, without setting specific deadlines.
“We are very disappointed” that no deadlines have been set, her spokesman said Guinea, who spoke on her behalf G77 and her Of China (over one hundred developing and emerging economies).
NGOs accuse EU and USA that they hindered any progress in this aspect, with the Climate Action Network to consider that their attitude “endangered” the success of the meeting. “Whether we leave COP26 with a decent result will depend largely on the willingness of the US and the EU to provide support to developing countries,” he said. Mohamed Andou, του ΙPower Shift Africa Research Institute.
THE Vice-President of the European Commission, Frans Timmermans“We will find a solution to help vulnerable countries deal with the disasters and damage already suffered by the climate crisis,” he said.
Estimates for the financing needs of the least developed countries range from 750 billion to 1.3 trillion. dollars on an annual basis.
Fossil fuels, the other “hot” issue
Another hot issue at the heart of the deal: fossil fuels, which are largely to blame for global warming.
Although the Σhis agreement Paris did not explicitly mention them, the new draft final declaration includes – in a milder tone than its first version – the phasing out of their funding.
The wording is supported by EU and the USA. The American expert authorized John Kerry stigmatized the massive subsidies of these forms of energy, which for him is “the definition of madness”.
More broadly, the draft declaration of the British Presidency calls on the Contracting Parties to honor their commitments to reduce emissions as soon as possible than provided for in the Paris, as early as 2022. However, it provides that “special national circumstances” will be taken into account.
“Our question to those responsible for the biggest emissions, to the biggest economies, here in Glasgow, is: how do you want us to remember you?” Gabriela Bucher of Oxfam. “Like those who let the arsonists burn the planet or like those who led the world to safety?”
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
