The approval of the agreement was marred by last-minute opposition from India and China to a paragraph on the need to eliminate dependence on coal, and to end fossil fuel subsidies.
With 24 hours of delay on the agenda, COP26 approved a text that opens the way to formal consultations to create financing funds and to subsequently study the damages and losses of the most vulnerable countries.
The document does not contain exact dates or amounts. “What this text is trying to do is plug holes and start a process,” especially on the issue of finance for adaptation to the effects of climate change, that is, to prepare for what is coming, he explained. Helen Mountford, del World Resources Institute.
“It is shy, it is weak and the 1.5ºC target is barely alive, but it sends a signal that the coal era is ending. And that is important.” reacted on his part Jennifer Morgan, executive director of Greenpeace.
Developing countries, those hardest hit by global warming, fought tooth and nail to the end to make money advances, with a modest result.
The decisions of the COP are reached by consensus, and Glasgow was no exception, with exhaustive negotiations until the last minute in the very room of the plenary assembly, with delegates standing, document in hand.
The United States Special Envoy, John Kerry, his Chinese counterpart, Xie Zhenhua, the Vice-President of the European Commission, Frans Timmermans, They came and went, hopping from group to group, over a text that was finally accepted grudgingly, albeit with harsh criticism from India.
The pact “urges developed countries to at least double their collective contributions to developing country adaptation, based on 2019 levels, by 2025.”
The multilateral banks should collaborate in the task, and the text also calls for “innovative policies” to attract private capital.
But rich countries have not been able to regularize the $ 100 billion a year that vulnerable countries were supposed to receive since 2020. And that figure was just a base. The text recognizes and “deeply regrets” this situation, which urgently needs to be remedied by 2025.
From the Paris Agreement By 2015, scaremongering has grown and the world is heading for a “catastrophic” situation if drastic measures are not taken, scientists insist.
The objective set in Paris six years ago was that the increase in global average temperature does not reach +2 ºC, and ideally it should reach a maximum of 1.5 ºC.
Source From: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
