“Developing countries have a right to their fair share of the carbon budget,” he told ministers.ĭespite the watered down language, Laurie van der Burg from Oil Change International told Climate Home News the reference to fossil fuels was an “important symbolic breakthrough”. India’s environment minister Bhupender Yadav said it was reasonable for developing countries to use fossil fuel subsidies, for example on cooking gas for low-income households. The direct reference to coal is a first for the process, with the caveats around it reflecting the fact that many big emerging economies rely heavily on the fuel.
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It gets more specific than previous UN climate agreements on how to achieve that, calling for a scaling up of clean energy and “efforts towards the phasedown of unabated coal power and phase-out of inefficient fossil fuel subsidies”. The pact states that “ limiting global warming to 1.5C requires rapid, deep and sustained reductions in global greenhouse gas emissions.” This means cutting emissions by 45% by 2030 and net zero by 2050, compared to 2010 levels.
A compromise on carbon trading rules enables cash to flow to climate projects across borders and avoids some of the biggest potential loopholes, while still carrying a risk of greenwash.Ĭop26: After tense huddles in Glasgow, countries strike ‘uncomfortable’ climate deal On the Paris rulebook, common emissions reporting standards aim to prevent cheating. “It will only survive if we keep our promises, if we translate commitments into rapid action and if we deliver on the expectations set out in this Glasgow Climate Pact to increase ambition to 2030 and beyond.” “We can say with credibility that we have kept 1.5C within reach but its pulse is weak,” said Cop26 president Alok Sharma as the conference closed. The package makes incremental progress on how to cope with the impacts already brought by 1.1C warming and mobilise support for developing countries. That leaves a gap that the deal seeks to narrow by requesting another round of national climate plans – both stronger 2030 targets and long-term strategies – next year. The most optimistic reading of national commitments before and during the Cop26 summit bends the curve to 1.8C. The UK presidency’s aim for the talks was to “keep 1.5C alive”, referring to the most ambitious temperature target of the Paris Agreement.Īnalysis by Climate Action Tracker suggests that current policies put us on course for a 2.7C world. UN climate talks closed on Saturday night with countries agreeing the Glasgow Climate Pact to reinforce action and finalise the Paris Agreement rulebook.