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The gavel finally came down on the extended COP26 climate summit in Glasgow late Saturday night: A deal was reached – dubbed the Glasgow Climate Pact – which was welcomed by some but criticised by many others for not going far enough.
The much-anticipated two-week COP26 climate conference in Scotland delivered a major victory on Saturday night when it resolved international rules around carbon markets with the belated agreement of the Glasgow Climate Pact, more than 24 hours after the initial COP26 deadline had passed. But it left vulnerable countries in limbo about long-promised financial support from richer nations.
The 10-page deal was struck after both India and China asked for Article 36 of the pact to remove a reference to “phasing out” fossil fuel subsidies and coal. A watered-down version calling instead for “phasing down” coal usage was passed on Saturday night.
India’s environment and climate minister, Bhupender Yadav, said the revision reflected the “national circumstances of emerging economies”.
“We made our effort to make a consensus that is reasonable for developing countries and reasonable for climate justice,” he said, alluding to the fact that rich nations historically have emitted the largest share of greenhouse gases.
“It is still quite historic that fossil fuels are being mentioned in this final version of the COP26 resolution as no COP text has ever mentioned fossil fuels, even though they are responsible for 90 percent of greenhouse gas emissions,” said Valérie Dekimpe, FRANCE 24 environment editor.
The essentials of the Glasgow Climate Pact
The pact is not legally binding but it sets the global agenda on climate change for the next decade.
It asks countries to replace their 2030 national climate action targets with more ambitious emission reductions by the end of next year. It also asks them to comply with standards set by the 2015…
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Source : france24
