First draft of COP26 accord acknowledges current pledges insufficient to avoid climate catastrophe
Approaching the final day of the two-week COP26 U.N. climate summit, delegations intensified efforts to strike a deal to tame global warming, with the focus on finding cash to help developing nations cope with its worst effects.
Britain’s conference president, Alok Sharma, said the latest draft conclusions he had seen showed “significant” progress, but “we are not there yet.” The missed $100 billion goal is expected to be reached three years late, undermining the trust of developing nations and making some of them reluctant to make their emissions reduction targets more ambitious.
The conference host, Britain, says the overarching goal of COP26 is to “keep alive” hopes of capping global temperatures at 1.5 degrees Celsius above pre-industrial levels, still far from reach under current national pledges to cut emissions. On Thursday, a fledgling international alliance to halt new oil and gas drilling added six members, but did not get the support of any major fossil fuel producers.
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