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Final sprint at COP26 the summit could close today

2021-11-13T08:08:26.586Z


An informal plenary will be held at 10 am local time (11 am in Italy) to illustrate the draft. COP26 president Alok Sharma plans a formal plenary in the afternoon to approve the final document and close the conference on the same day (ANSA)


by Stefano Secondino

The final rush has begun. Cop26 wants to close with a historic result, a series of countries' commitments to keep global warming below 1 and a half degrees. But the road is uphill. Before the night rush, the thorniest dossiers were still open: there was no agreement on the carbon market, transparency and Paris Rulebook. The British presidency wants to arrive with a definitive document, to have it approved overnight. But China and Russia are contesting the latest draft released this morning, and the games are still open.

The day in Glasgow began at 7:13 am with the publication of the second draft of the final document, with comments made yesterday by the ministers of the participating countries. The goal of staying below 1.5 degrees, the 45% cut in emissions by 2030 compared to 2010, and zero net emissions around the middle of the century remain. The commitment also remains to update the decarnbonization commitments again by the end of 2022.

Again, the document urges rich countries to double the funds for aid to the most vulnerable countries by 2025.However, the 2023 deadline for setting up the aid fund of 100 billion a year disappears from the second draft. The fund must be done, but no one takes too tight commitments. But the real problems are others. In the second draft, the paragraphs on Paris Rulebook and transparency are empty. The first is the set of rules for putting the Paris Agreement into practice, the second is the "reporting format", ie the common rules with which states communicate the progress made in decarbonization.

They are not technical and secondary issues. The rules for decarbonising place stringent constraints on states. For the US and the EU, which have clean energy technologies, it is not a problem to set rigid goals. Indeed, it is an incentive for green industrial reconversion. But for an emerging country like China, or one that thrives on hydrocarbons like Russia, too harsh decarbonisation regulations are an economic damage. And then there is the dossier of Article 6 of the Paris Agreement, which provides for the global carbon market. In practice, a taxation of emissions, such as the ETS of the EU, with the possibility for those who emit less to sell their emission allowances to those who emit more.

An informal plenary will be held at 10 am local time (11 am in Italy) to illustrate the draft.

COP26 president Alok Sharma plans a formal plenary in the afternoon to approve the final document and close the conference on the same day.



Source: ansa

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