Negotiators at COP26 appeared to be backing away from a call to end all use of coal and phase out fossil fuel subsidies completely, but gave poor countries hope for more financial support to cope with global warming.
from the meeting’s chair released Friday call on countries to accelerate “the phaseout of unabated coal power and of inefficient subsidies for fossil fuels.”
The question of how to address the continued use of fossil fuels responsible for much of global warming has been one of the key sticking points at the two-week talks. The latest draft reflects those concerns, expressing “deep regret” that the $100 billion goal hasn’t been met and urging rich countries to scale up their funding.
While the Paris accord calls for limiting temperature to “well below” 2C , ideally no more than 1.5C, by the end of the century compared to pre-industrial times, the draft agreement notes that the lower threshold “would significantly reduce the risks and impacts of climate change” and resolves to aim for that target.
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