'Time is running out' at U.N. climate conference, officials warn

Just one day before the end of what has been dubbed “the world’s last best chance” to avert the climate crisis, United Nations officials have not minced how much work remains while the meeting is in his last madness is sth.

UN Secretary-General António Guterres said Thursday at the UN Climate Change Conference in Glasgow, Scotland that countries still have a lot to do in negotiating a global plan to tackle the climate emergency.

“Governments need to accelerate the pace and show the necessary ambition to mitigate, adapt and finance in a balanced way,” he said. “We cannot be satisfied with the lowest common denominator. We know what to do.”

Guterres said that at this year’s summit, which was held as the 26th

“Promises sound hollow when the fossil fuel industry is still receiving trillions in subsidies by the [International Monetary Fund]”, he said. “Or when countries are still building coal-fired power plants. Or when CO2 is still priceless and distorts markets and investor decisions. “

Alok Sharma, President of COP26, had even stronger words on Thursday for the delegates at the meeting, who are rushing to reach agreements overnight and into the evening hours of the conference.

“Time is running out,” he said, adding that “there is still a lot to do”.

The COP26 summit is believed to be critical to keeping alive the Paris Agreement goal of keeping warming below 1.5 degrees Celsius, which scientists say is necessary to avert the most devastating effects of climate change.

Studies have shown that falling below 1.5 degrees Celsius requires a 45 percent reduction in global emissions by 2030 current analysis of the UN environmental program warned that existing national climate pledges still put the world on the right track for 2.7 degrees Celsius warming by the end of the century.

A COP26 draft contract was released on Wednesday outlining the need for countries to phase out coal and fossil fuel subsidies and calling on rich countries to “urgently increase their climate finance provision” to help developing countries disproportionately affected by climate change are affected.

The draft, updated on Thursday, also called on countries to reconsider and strengthen their commitments to reduce emissions over the next year.

Representatives from nearly 200 countries are currently in the process of preparing a final agreement, which traditionally requires the signature of all parties.

While COP26 is slated to close on Friday, it’s not uncommon for the procedures to take a long time. Although both Guterres and Sharma are pressuring governments to pick up the pace, Sharma said Thursday that a number of issues remained unresolved, including funding for developing countries and discussions on carbon markets.

“We’re not there yet on the most critical issues,” said Sharma. “We still have a monumental challenge ahead of us.”

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