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Cop26, a supplementary agreement to respond to the challenges of climate change

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The new final draft package was released at 8:00 am on November 13th. Then an informal plenary assembly among the representatives of the 197 participating countries. Finally, the final approval. With many delegates already returning home (the summit was due to close on the 12th and not all of them managed to move the flights), others packing their bags and the Scottish Event Campus pavilions in disarmament, the United Nations conference on clima is on its way to the final stages, after two weeks of negotiations, promises, announcements, disputes.

The updated drafts of the final package are also being discussed, the issues at the heart of the COP process, such as the global market for CO2 emissions, rules for monitoring and verifying commitments to reduce greenhouse gases, aid to developing countries.

Decisions and recommendations

They will be gathered under the umbrella of the cover decision, “the Christmas tree”, as the negotiators call it, hanging from which there are more or less stringent but still delicate commitments, such as the acceleration of the stop to the consumption of coal or to subsidies to fossil fuels, in a language that may seem bland, but more than enough to raise the resistance of the countries most dependent on polluting sources (China, Russia, India, Australia).

And recommendations to cut greenhouse gases by 45% by 2030, to reach “net zero” “around the middle of the century”. The same language used in the G20 in Rome: a compromise to keep together those who aim for 2050 (EU, USA, Japan, United Kingdom, among others) and those who have longer times, such as China, Russia, Saudi Aarabia (2060) and India (2070) and which is attracting criticism from NGOs and environmentalists.

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How much effort on the fund for developing countries

A particularly frictional issue, also in perspective and beyond the COP26 result, is that of aid to developing countries. In 2009, advanced economies pledged to mobilize $ 100 billion a year for low-income ones. It was supposed to be there in 2020, but it stopped below 90 (83-88 according to the OECD). The sum could be reached within a year or two and perhaps exceeded in the following years. Timmermans, described the behavior of the advanced countries as “disappointing”. “The European Union is already giving 27 billion dollars – he said – and is ready to explore the possibility of further efforts”.

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