Up to one trillion dollars a year could be needed to cover the costs of global warming in the world by 2050. The IPCC, the UN’s scientific committee on climate, writes in a draft of the report on the effects and responses to the climate change, expected by the beginning of 2022, according to reports from France Press. “Adaptation costs are considerably higher than previously estimated,” reads a note on the 4,000-page report. “Existing arrangements to finance adaptation are inadequate in the face of the anticipated magnitude of climate impacts.”
The UNEP (UN Environment Program) report on the Adaptation Gap, published in early November, says funding needs will approach $ 300 billion annually in 2030, reaching $ 500 billion by 2030. 2050.
The second draft
The hands are running and at the end of regular time there are now only a few hours left. The COP26 in Glasgow is expected to close its doors on Friday 12 November, but the use of overtime to convince the approximately 200 States involved to reach agreements up to the challenge posed by climate change is not excluded.
On the morning of the 12th, a second draft of a “declaration-hat” was released, which should serve as a preamble to a myriad of specific decisions on the completion of the Paris Agreement (especially on transparency of the process, monitoring of targets, global exchange mechanism of CO2). There are some filings with respect to the document of 10, such as on the steps on accelerating the exit from coal and the stop to fossil fuels. Passages that resist, however. Veterans of climate negotiations point out that the 1997 Kyoto Protocol already called for the taps of subsidies to pollutants to be turned off. works are in progress. US climate envoy John Kerry said he was “optimistic.”
The climate plans signed up to now (especially those of China and India) are not enough, dozens of scientific reports say so. As things stand, greenhouse gases would increase by 13.7% in 2030, compared to 2010 levels, instead the objective would be to cut CO2 released into the atmosphere by 45%. Consequently, countries are asked to update their net emission reduction targets in 2022. A key request from low-income countries and island states, the most exposed to the effects of climate change, already today.