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Delegates from almost every country around the world met at the UN COP26 summit in Glasgow to end the global warming agreement and accelerate clean economic transformation.
About 40,000 people took part in the two-week conference, which ended Saturday with additional leaders signing the “Glasgow Climate Pact” after a difficult last-minute discussion.
Coal oil and oil This is the first time that the study has been incorporated into the final COP ruling. The treaty calls on countries to “speed up” efforts to eliminate “immovable coal-fired power” – in terms of renewable energy sources.
It also demands the end of the “insufficient” support for fuel, although it does not specify a time when this will happen. This passage also “recognizes” the need to support staff in those areas to find alternative employment.
The passage sparked an 11-hour drama on Saturday night, as India and China lowered the coals of the coalition from “the exit” to the “low” – a change that caused COP26 President Alok Sharma to tears and apologize to the offended nations.
Loss and damage Countries looking for remuneration to deal with the effects of climate change have already begun to “negotiate” funding for a new agency to help them.
This UN agency will be provided to provide vulnerable countries with “technical assistance” to help prevent and address the effects of climate change.
An independent fund to cover losses and losses was provided by developing countries but rich countries such as the US, Europe and Australia were rejected.
Seasonal finance The coalition says it is “deeply saddened” that rich countries have missed out on their 2020 target of $ 100bn a year to help developing countries, and are forcing them to increase that amount, every year, by 2025.
Change Wealthy countries are being asked to “at least double” their aid to climate change, which would enable developing countries to prepare for climate change, by 2025, compared to 2019. This could mean exchange rates could be around $ 40bn a year. from $ 20bn in 2019.
Carbon markets This is part of a “Paris law book” that has been closed. These regulations have created a market share that represents the reduction of emissions that countries can export, in accordance with Article 6.
Although many of the opportunities that climate scientists were concerned about were closed, some well-known stories will be allowed in the system for a while. This was developed under the Kyoto protocol and is considered to be a natural suspicion.
Although many developing countries have pushed for a formal tax on all loans, in order to finance reform, rich countries have opposed the move. The final agreement involves a voluntary commitment to the states to provide financial assistance.
Reduction By the end of next year, countries have been asked to set their own goals for the 2030 season.
The pledges have now put the world on the path of temperatures between 2.5C and 2.7C by the end of this century, far from the goals of the Paris climate agreement, which aims to reduce global warming to below 2C, by 1.5C, from industrial origin. time.
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