Key Sentence:
- The delegation in Glasgow is in the final stages of negotiating a deal to prevent the worst impacts of climate change.
- Negotiators in the main hall of COP26 met in packed groups to bridge differences on issues such as climate finance and deforestation.
COP26 President Alok Sharma told negotiators he wanted the deal to close on Saturday. And he said the current project “really moves things forward.” “In the end, a balanced package was proposed,” he said.
The main achievements of the agreement have been the inclusion of an unprecedented coal cessation commitment.
A more regular revision of emission reduction plans, and increased financial assistance to developing countries.
But developing countries are dissatisfied with the lack of progress in so-called “loss and damage. The idea that rich countries should compensate developing countries for the consequences of climate change they cannot adapt to.
Promises made in Glasgow will not be enough to limit global warming to 1.5°C. It is an integral part of the 2015 Paris Agreement, which was signed by most countries. Scientists say limiting temperature rise to 1.5°C compared to pre-industrial levels will protect us of the most harmful effects of climate change.
To meet the target, global emissions must be reduced by 45% by 2030 and to zero by 2050. An example of the effect of a worldwide temperature rise above two °C is the death of nearly all tropical coral reefs, scientists say. The Climate Action Tracker estimates that the planet will still warm at 2.4°C if all current promises are kept.
However, experts say the 1.5C target is still achievable: at COP15 in Copenhagen more than a decade ago. Estimates suggested the world was heading for warming between 3.5 and 4.2°C.
The new version of the deal, released Saturday morning. Continues to refer to “increased efforts to phase out coal power and inefficient fossil fuel subsidies”. China and Saudi Arabia are said to be in a group of countries. That want to remove references to fossil fuel subsidies.