Business News

India and China have weakened coal pledge promise as COP26 expires

[ad_1]

Last-minute interventions from India and China weakened coal-fired power lines in the Glasgow Climate Pact at the end of the UN COP26 summit.

Countries agreed to “reduce” instead of “removing” coal, in a statement that was dropped several times a week.

Just before the closing ceremony, there was a heated argument between ministers. The last change, introduced by India and China together, was the only change made on the terms of the treaty.

COP26 President Alok Sharma apologized for the last-minute change in critical language, saying he was “deeply saddened” by the manner in which the ceremony ended.

“I would like to thank all the delegates and apologize for the inconvenience.

Sharma was outraged when she apologized for the final decision in COP26 © REUTERS

The summit was able to achieve consensus on some of the controversial issues in its policies, including international standards for their emissions, as well as the rules of global carbon markets.

The Glasgow alliance offers 197 parties to the Paris agreement “to advance efforts to reduce the power of unallocated coal and to eliminate insufficient oil supplies.”

Although it was the first time that herbal oil was included in the COP agreements, and it was not expected to exist, there were no setbacks that led India and China to return. This was supported by South Africa, Bolivia and Iran.

“How can anyone expect the developing world to make commitments to curb coal and oil-burning resources,” India’s environment minister Bhupender Yadav said in a statement. “Developed countries still need to tackle their poverty alleviation strategy,” he said.

He responded in depth from Switzerland, who expressed “grave disappointment at not appearing”.

“We must not abandon coal but remove coal,” his spokesman said. “This would not get us closer to 1.5C [limit to global temperature rise] but they do make it difficult to find. ”

According to United Nations Secretary-General António Guterres, the treaty “reflects the wishes, conditions, and political differences of the day. . . Unfortunately, political ambition was not enough to resolve some of the major conflicts. ”

The talks were said to end on Friday. But disputes over unresolved issues, including the carbon markets and the oil language, sparked talks over the weekend.

“It is mild, weak and the target of 1.5C is only alive, but the signal has been sent that the charcoal period is over. And it ‘s important, “said Greenpeace International chief executive Jennifer Morgan.

The agreement also urges countries to redouble their efforts to reduce 2030 emissions by the end of 2022, and calls on rich countries to “at least double” by 2025 their investment in developing countries to help them adapt to climate change, starting in 2019.

With great success, over the years, negotiators have completed the “ruling book” of Paris – a number of technical decisions that drive headings, including how countries describe progress in reducing emissions, and how the new global market will operate.

“Although we have not been successful, the progress made last year and the COP26 conference provide a solid foundation to build on,” said Ani Dasgupta, president of the World Resources Institute. “The real test here is that if countries accelerate their efforts and change what they promise to do.”

The two-week conference also highlighted the economic crisis in poor countries suffering from climate change and climate change.

Just days before the Glasgow agreement was ratified, the G77 group of developing countries offered new lost and damaged money that rich countries could pay. But the US, the EU and others strongly opposed the idea, and the final word was offered to support the new agency, which could provide technical assistance.

Teresa Anderson, a climate activist at ActionAid International, said the result was “an insult to the millions of people whose lives have been disrupted by climate change.”

Ministerial speeches on the last day, including those from small island nations that are at high risk of sea level rise, expressed their frustration at the lack of quality that has been incurred on disposable and wasteful payments.

Frans Timmerman, the EU’s green chief, also expressed frustration over the final selection of countries that rely on fossil fuels, but said the success of the entire treaty means the end of coal. The country can “work hard to get rid of coal” as a result of this agreement.

Although Saudi Arabia has also denied reports of oil spills this week, diplomats remained silent on Saturday, with Iran filing a lawsuit for storing hydrocarbons.

Climate Capital

Where climate change meets business, markets and politics. See FT articles here.

Would you like to know what FT promises for environmental stewardship? Learn more about our science-based goals here

[ad_2]

Source link

Related Articles

Leave a Reply

Back to top button