The COP26 draft agreement weakens the demand to abandon coal, but reinforces 1.5ºC

The new text urges developed countries to “at least double” by 2025 financing for developing countries’ adaptation to climate change.

1:36

The new draft proposed to reach an agreement of more than 190 countries in Glasgow (Scotland) weakens the requirement of the abandoning coal and maintaining subsidies to certain fossil fuels, although it reinforces the call to achieve the objective of limiting the increase in global temperature between now and the end of the century by 1.5ºC.

As stated in the draft presented this Saturday morning by the British Presidency of the XXVI Conference of the Parties of the UN Framework Convention on Climate Change, which has begun on the first day of the extension, the parties are standing to a greater integration of adaptation issues into local, regional and national planning.

What’s more “urge” developed countries to urgently increase – it no longer sets a specific date – their provision of climate finance, technology transfer and capacity to build adaptation as well as respond to the needs of developing countries as part of the global effort, included in the formulation and implementation of national adaptation plans.

Thus, it emphasizes the urgency of increasing action and supporting with financing, resilience capacity and technology transfer to achieve better adaptation, reinforce resilience and reduce vulnerability to climate change in line with the best available data from science and this , points out that it should be a priority to meet the needs of developing countries.

The draft of the Glasgow Agreement warns with “worry” the current provision of financing for adaptation to climate change because it remains “insufficient” to respond to the worst impacts of climate change in developing countries.

On the other hand, it calls on multilateral development banks and other financial institutions and the private sector to improve the mobilization of financing to achieve the level of resources necessary to comply with climate plans, in particular the matter of adaptation, and makes the parties more expensive. to continue exploring innovative approaches and instruments to mobilize finance for adaptation plans from private sources.

Financing

In the final stretch of the negotiation, the parties try to close the last stumbling block: the Money transfers from rich countries to poor ones suffering and the effects of climate change.

According to sources from the negotiation, the tensions over the development of the functioning of the carbon markets are being solved, although the most important obstacle resides in the aspect of financing in “losses and damages”, that is, the aid to those most affected by the climate crisis.

The nearly 200 parties are working on an updated draft presented this Saturday by the British Presidency of COP26, and the so-called Group of (G-77) of developing countries is holding an internal meeting to analyze the latest proposals from wealthy economies, added the sources.

This document envisaged creating a “dialogue” mechanism on financing rather than establishing a fund to make direct financial contributions.

1,5ºC

Regarding mitigation, the new text reaffirms the long-term objectives to maintain the global increase in average temperature below 2ºC compared to the pre-industrial era and calls for making the necessary efforts to limit this increase to 1.5ºC, a level that could significantly reduce the risks and impacts of climate change.

The message of the new draft seeks to definitively reinforce the 1.5ºC objective, which was precisely the aspiration expressed before COP26 by the British Presidency, under the slogan ‘Keep 1.5ºC alive’.

In fact, the text recognizes that achieving this 1.5ºC target requires a “rapid, deep and sustained” reduction in global CO2 emissions, including CO2, by 45 percent between now and 2030 relative to levels of CO2. 2010 and to achieve climate neutrality “around the middle of the century”.

Therefore, it recognizes that this will require “accelerated” action in this “critical decade” on the best basis of scientific knowledge and equity, reflected in the responsibilities differentiated by countries and in accordance with their respective capacities in a context of effort to eradicate poverty.

Energy

On the other hand, it calls on the parties to accelerate the development, deployment and diffusion of technologies, to adopt policies and to undertake a transition towards low-emission energies, including a “rapid escalation” of the development of clean energy generation and measures efficiency efforts, including acceleration efforts toward phasing out non-abatement coal power and “inefficient” fossil fuel subsidies, and recognizes the need to support a just transition.

Thus, not only does it not set an end date for the generation of coal, but it maintains both the uncontaminated coal and the subsidies to certain types of fossil fuels, an issue that this Friday stalled the negotiations and angered the countries most in favor of accelerating the decarbonization.

COP27

Looking ahead to next year, it invites the UN Panel of Experts on Climate Change to be present at the next Summit (COP27) to be held at the end of 2022 to present the results of Working Group II, which will include the most relevant needs in the matter. of adaptation and to present the calls of the research community for a greater understanding of the impacts of climate change, as well as the response options.

Greenpeace

Greenpeace has highlighted the “tension” this Saturday in the negotiations given that the new draft still does not satisfy all parties, since on the one hand it further weakens the language demanding the end of fossil fuels and vulnerable countries consider a joke the mechanism that is proposed for financing losses and damages.

Juan Pablo Osorio, the head of the Greenpeace delegation in the negotiations of the XXVI Conference of the Parties of the UN Framework Convention on Climate Change (COP26) that is being held in the Scottish city, explained this Saturday that it will be a “historic” plenary, since the Presidency wants to vote on the agreement as a whole. Thus, countries will have to accept or reject the text, in an all or nothing sort of way.

Osorio criticizes that the language in terms of fossil fuels “becomes weaker” in the new draft compared to the one that already generated controversy due to its laxity this Friday since it remains in “acceleration” in the output of coal and fuel subsidies fossils.

“He talks about accelerating efforts, he does not say that it must be achieved”, comments the observer who affirms that this supposes weakening that demand since the negotiating text maintains the coal not abate and the subsidies to fossil fuels inefficient, which does not include all subsidies.