Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

As COP26 Reaches Close To Final Deal, UK Urges "Balanced" Package

As COP26 Reaches Close To Final Deal, UK Urges "Balanced" Package

COP26 president Alok Sharma told delegates from nearly 200 countries that a draft summit text attempted to reconcile yawning gaps between rich emitters and developing nations.

Britain on Saturday urged compromise among feuding COP26 delegates as it touted a "balanced" package to help avert the worst effects of climate change in what is meant to be the Glasgow summit's final hours.

COP26 president Alok Sharma told delegates from nearly 200 countries that a draft summit text attempted to reconcile yawning gaps between rich emitters and developing nations that have hobbled the fortnight's discussions.

"Everyone has had a chance to have their say. I hope that colleagues will appreciate what is on the table," he said, presenting a third draft text.

"While not every aspect will be welcomed by everyone, collectively, this is a package that really moves things forward for everyone," Sharma added.

He added "it is my intention that we will close this COP this afternoon" -- while allowing more time for haggling over technical issues.

After three nights of all-night negotiations that have blown COP26 past its scheduled finish of Friday, delegates are still trying to agree a deal to deliver greater emissions cuts and vital finance for vulnerable states.

The new draft text released by Sharma's team urged nations to accelerate efforts to phase out unfiltered coal and "inefficient" fossil fuel subsidies.

Large emitters such as China, Saudi Arabia and Russia had tried to remove the mention of polluting fuels, according to delegates.

But after resistance from rich nations led by the United States and European Union, the draft text omitted any reference to a specific finance facility for "loss and damage" -- the mounting cost of global warming so far -- which has been a key demand of poorer nations.

Do the right thing


The text noted "with deep regret" that wealthy nations had also failed to stump up a separate annual sum of $100 billion they promised over a decade ago. It urged countries to pay up "urgently and through 2025".

Greenpeace International chief Jennifer Morgan told AFP that the language on fossil fuels "is far from what is needed but sends a signal- I dare countries to take that out of the text right now".

"The US has to support the most vulnerable on the issue of loss and damage. They cannot avoid this issue any longer. Nor can the European Union," she added.

"I would call on President (Joe) Biden to do what's right, and support the most vulnerable in helping them deal with their losses."

There was no immediate comment from the US, but EU Commission vice president Frans Timmermans denied that the rich world had turned its back on the countries most at risk.

"We have increased substantially our financial contribution, both in terms of the $100 billion but also in terms of the adaptation fund," he told reporters.

"But if there is more we can do, we will certainly try and help."

'Bullied'


Saleemul Huq, director of the ICCCAD climate NGO, said the British COP26 presidency had been "bullied" overnight into rejecting specific loss and damage funding.

"The UK's words to the vulnerable countries have been proven to be totally unreliable," he said.

The delegates in Glasgow are trying to hammer out how to implement the 2015 Paris Agreement goals to limit temperature rises to 1.5-2 degrees Celsius.

Countries already battered by climate disasters such as record-breaking drought, flooding and storms are demanding they be compensated separately for loss and damage, and have made it a red line issue.

However, a proposal to include the creation of a dedicated facility to administer financial support was quashed by the United States and EU, delegates said.

Amadou Sebory Toure, head of the G77+China negotiating bloc, told AFP the proposal was "put forward by the entire developing world, representing six of every seven people on Earth".

Alden Meyer, senior associate at climate policy think tank E3G, said loss and damage talks were a "cliffhanger moment" that could jeopardise the UK's goal of wrapping the summit up later Saturday.

Developing nations say it is unfair for the summit to produce an unbalanced agreement heavily weighted toward "mitigation" -- how economies can ditch fossil fuels by 2050.

They want specific instruction on how they can meet the bill of decarbonising while also adapting to the natural disasters supercharged by global warming.

Another key sticking point are rules governing carbon markets. Countries that benefited from a global framework predating Paris want to be able to carry over credits into the new deal.

There is still disagreement over rules preventing double counting of carbon savings and to what extent the private sector is governed by guidelines agreed between nations.

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Hungarian Prime Minister Viktor Orbán stated that Hungary will not adopt the euro because the European Union is falling apart.
Mayor in western Germany in intensive care after stabbing
Australian government pays Deloitte nearly half a million dollars for a report built on fabricated quotes, fake citations, and AI-generated nonsense.
BYD’s UK Sales Soar Nearly Nine-Fold, Making Britain Its Biggest Market Outside China
Latvia to Bar Tourist and Occasional Buses to Russia and Belarus Until 2026
Wave of Complaints Against Apple Over iPhone 17 Pro’s Scratch Sensitivity
Munich Airport Reopens After Second Drone Shutdown
Pro Europe and Anti-War Babiš Poised to Return to Power After Czech Parliamentary Vote
Sean ‘Diddy’ Combs Sentenced to Fifty Months in Prison Following Prostitution Conviction
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Russian Research Vessel 'Yantar' Tracked Mapping Europe’s Subsea Cables, Raising Security Alarms
Global Cruise Industry Posts Dramatic Comeback with 34.6 Million Passengers in 2024
U.S. Demands Brussels Scrutinize Digital Rules to Prevent Bias Against American Tech
Private Equity’s Fundraising Surge Triggers Concern of European Market Shake-Out
Tokyo’s Jimbōchō Named World’s Coolest Neighbourhood for 2025
European Officials Fear Trump May Shift Blame for Ukraine War onto EU
The Personality Rights Challenge in India’s AI Era
Italy Considers Freezing Retirement Age at 67 to Avert Scheduled Hike
Italian City to Impose Tax on Visiting Dogs Starting in 2026
Study Finds No Safe Level of Alcohol for Dementia Risk
Trump Says Ukraine Can Fully Restore Borders with NATO Backing
Europe Signals Stronger Support for Taiwan at Major Taipei Defence Show
Germany Weighs Excluding France from Key European Fighter Jet Programme
Cyberattack Disrupts Check-in and Boarding Systems at Major European Airports
Björn Borg Breaks Silence: Memoir Reveals Addiction, Shame and Cancer Battle
When Extremism Hijacks Idealism: How the Baader-Meinhof Gang Emerged and Fell
JWST Data Brings TRAPPIST-1e Closer to Earth-Like Habitability
Trump Orders $100,000 Fee on H-1B Visas and Launches ‘Gold Card’ Immigration Pathway
France’s Looming Budget Crisis and Political Fracture Raise Fears of Becoming Europe’s “Sick Man”
Three Russian MiG-31 Jets Breach Estonian Airspace in ‘Unprecedentedly Brazen’ NATO Incident
European manufacturers against ban on polluting cars: "The industry may collapse"
Turkish car manufacturer Togg Enters German Market with 5-Star Electric Sedan and SUV to Challenge European EV Brands
Christian Brueckner Released from German Prison after Serving Unrelated Sentence
World’s Longest Direct Flight China Eastern to Launch 29-Hour Shanghai–Buenos Aires Direct Flight via Auckland in December
New OpenAI Study Finds Majority of ChatGPT Use Is Personal, Not Professional
The conservative right spreads westward: a huge achievement for 'Alternative for Germany' in local elections
Pope Leo Warns of Societal Crisis Over Mega-CEO Pay, Citing Tesla’s Proposed Trillion-Dollar Package
Poland Green-Lights NATO Deployment in Response to Major Russian Drone Incursion
U.S. and China Agree on Framework to Shift TikTok to American Ownership
Le Pen Tightens the Pressure on Macron as France Edges Toward Political Breakdown
Czech Republic signs €1.34 billion contract for Leopard 2A8 main battle tanks with delivery from 2028
Penske Media Sues Google Over “AI Overviews,” Claiming It Uses Journalism Without Consent and Destroys Traffic
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
One in Three Europeans Now Uses TikTok, According to the Chinese Tech Giant
Could AI Nursing Robots Help Healthcare Staffing Shortages?
NATO Deploys ‘Eastern Sentry’ After Russian Drones Violate Polish Airspace
The New Life of Novak Djokovic
German police raid AfD lawmaker’s offices in inquiry over Chinese payments
Volkswagen launches aggressive strategy to fend off Chinese challenge in Europe’s EV market
France Erupts in Mass ‘Block Everything’ Protests on New PM’s First Day
×