Follow-up INA
A new draft of the final statement of the United Nations climate conference in Glasgow called for accelerating efforts towards phasing out coal and strengthening the pace of commitments by countries to reduce greenhouse gas emissions.
The document, which was published online by the British Presidency of the conference, also called on rich countries to double funding for climate adaptation by 2025.
On the other hand, the text does not refer to a specific mechanism to compensate for the "losses and damages" suffered by the poorest countries and those exposed to the consequences of warming.
This is despite the fact that this issue was one of the major demands of those countries and one of the points of contention during the conference.
From fossil fuels to financial aid for poor countries, the two hundred signatories to the Paris climate agreement are continuing their efforts in Glasgow to try to clinch a deal aimed at reducing global warming at the conclusion of COP26.
African nations said the new target should reach $1.3 trillion by 2030 to reflect the mounting costs of exacerbating droughts, floods and other climate-related disasters in the world's poorest countries.
The $100 billion pledge is well below the actual needs of countries at risk, which could reach $300 billion annually by 2030 for them to adapt to climate impacts alone, according to the United Nations.
This is regardless of potential economic losses from crop failures or climate-related disasters.
Source: Reuters