November 29, 2021

Sagebrush Rider

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The COP26 Climate Summit in Glasgow entered extra time

The Climate Change Conference (COP26) in Glasgow, United Kingdom, went into overtime today after concluding its regulatory period without reaching a consensus on emissions reduction, financing and the ban on fossil fuels.

Organized by the British government under the auspices of the United Nations, COP26 should have ended earlier, but since it was impossible to reach an agreement, the President decided to extend the talks for another day in the hope of avoiding its failure.

Financial assistance pledged by rich countries since 2009 promises to mitigate and mitigate the impact of climate change by contributing $ 100,000 a year to poor and vulnerable countries.

RelatedClimate finance is a controversial topic

The parties disagreed on how to write a call to abandon the use of coal as a source of energy and subsidies for fossil fuels.

The first draft, released in the middle of the week, called for speeding up the elimination of these polluting sources, but changed the text to make it clear that it would only affect coal and power plants after complaints from large manufacturers and exporters. Does not have the necessary technology to capture and store emissions.

New words about oil and gas refer to subsidies that it considers “inefficient”.

There is no consensus among the parties on the deadline for governments to present their new greenhouse gas emissions reduction targets after the final declaration of the proposed draft for 2022.

RelatedThe UN warns that there are not enough responsibilities

Glasgow is found to be COP26 Last chance The world must make serious commitments to control global warming to 1.5, reduce carbon emissions to zero by 2050, mitigate the effects of climate change, mitigate and raise funds for poorer and more vulnerable countries.

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So far, the event’s most relevant announcements are plans to end deforestation by 2030, the same year the United States and the European Union announced that they would reduce their methane emissions, and more than 40 countries said they would take action to back down. The use of coal.

There were promises from some governments and the private sector to increase their contribution to climate finance and bilateral funding to developing countries.