Everything that happened at COP26 today as Rishi Sunak makes bold pledge

COP26 is underway as world leaders seek to accelerate action to combat climate change.

The heads of state and their negotiating teams hope to produce powerful results to stop climate change by promising action to reverse the climate catastrophe.

On the third day, the heads of state and government had already put together plans and measures, including an attempt to end deforestation and signing new partnerships and pledges.

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Here’s everything that happened at today’s event, which is currently taking place at the Glasgow Climate Change Summit:

What happened today at COP26

COP26 began its “Finance Day” on which Chancellor Rishi Sunak announced plans to make Britain the world’s first “net zero” financial center.

To that end, he said UK financial institutions would have to disclose their climate impact – but he would not make a net zero rule compulsory.

Meanwhile, developed countries have reaffirmed their promise to provide climate finance for the most vulnerable.

“We will achieve the goal of providing the developing countries with climate finance of 100 billion US dollars (86.3 billion euros),” said British Chancellor Rishi Sunak.

But this funding target should be achieved in 2020 and is now expected in 2023 – three years too late.

“While we know we won’t get there soon enough, we will work closely with developing countries to do more and get there sooner,” he added.

Sunak also said the UK will provide £ 100 million to the Task Force on Access to Climate Finance. He added that this should give developing countries “faster and easier access to the finance they need”.

What to expect tomorrow

The fourth day is all about energy and especially coal. The UK leads the world on coal phasing out commitments and will be hoping for similar commitments that day. The G7 heads of state and government made coal commitments back in July.

Two panel sessions with senior government officials and international organizations will announce and discuss new measures to accelerate clean energy growth.

In the afternoon, there will be speeches from energy ministers from the UK, India and around the world, as well as an event on the global coal phase-out.

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