'Monumental challenge' in final day at Cop26

The Cop26 climate talks are entering their last scheduled day, with the summit president warning that “there is still a monumental challenge ahead of us”.

Talks are slated to end at 6 p.m. today but could be overdone as negotiators come under pressure to resolve issues around finances for poor countries, calls for accelerated phasing out of fossil fuel and coal subsidies and countries’ efforts , emissions in the 2020s.

A new version of the overarching agreement that could be agreed at the Glasgow Summit is expected overnight on Friday.

The first draft of the “cover decision” calls on the countries to “reconsider and strengthen” the targets for reducing emissions by 2030 in their national plans in order to bring them into line with the Paris target of “well below 2 ° C” by the end of 2022 ” to keep. or to 1.5 ° C.

The document, released on Wednesday, includes a call on developed countries to at least double their collective allocation of funding to assist developing countries in adapting to climate change, as part of increasing resources for poorer countries to cope with the crisis and loss and Damage.

Some of the most vulnerable nations have raised concerns about the lack of detail.

It is believed that the fossil fuel phasing out commitment, which appears for the first time in such a text, is unlikely to be included in the final document.

As the talks were drawing to a close, Cop26 President Alok Sharma warned: “We still have a monumental challenge ahead of us, but together we have no choice but to face this challenge and strain every tendon in order to achieve a timely result achieve that we can all achieve. ”be proud of.

“Because that result, whatever it is, ultimately belongs to all of us.”

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