Jakarta, CNBC Indonesia – The United Nations (UN) published a draft of the third agreement on the results of the COP26 Climate Summit which was held in Glasgow, Scotland some time ago.
COP26 or the 26th UN Climate Change Conference of the Parties is the largest and most important climate-related conference in the world.
Reporting from CNN International, the draft released Saturday (11/13/2021) morning still refers to the gradual elimination of coal and ending subsidies for fossil fuels, with more streamlined steps.
The draft urges countries to rapidly increase the use of clean electricity generation, along with eliminating coal power and “inefficient fossil fuel subsidies.”
“It also recognizes the need for support towards a just transition,” the draft added. This sentence talks about money to support jobs and livelihoods as the world moves away from fossil fuels. The two additions leave the text more open to interpretation than the original.
In the past, major coal, oil and gas producers have shown resistance to language around fossil fuels.
Sources close to the negotiations told that the Australian delegation was generally silent in the talks but was blocking progress around coal and even a move to update its emissions plans by the end of 2022. In the end, an Australian delegate said in session feedback it would adopt the draft as is. .
There is also some discontent with the language of how much the world should let the Earth warm and the rules of carbon markets to avoid double-counting emissions reductions, or “cheating” on credits.
While developing countries are less satisfied because their request to establish a special “loss and damage” fund is not clearly written.
As is known, rich countries plan to pay developing countries for the impact of the climate crisis, which implicitly recognizes the big role rich countries play in causing the climate crisis.
This issue has pitted developed and developing countries against each other, becoming the hallmark of the COP conference.
Indian Prime Minister Narendra Modi even asked developed countries to provide funds of US$ 1 trillion or equivalent to Rp. 14,286 trillion (assuming Rp. 14,280/US$).
“It is India’s hope that the developed countries of the world provide US$1 trillion in climate finance as soon as possible,” Modi said, as quoted by Bloomberg.
“Justice will demand that countries that do not meet their climate commitments be suppressed,” he added.
India’s trade union environment minister, Bhupender Yadav, said the same thing. In a meeting of Like-Minded Developing Countries (LMDC), the Indian delegation said climate finance could not continue at the amount decided in 2009, which was US$ 100 billion.
Several developing countries joined India’s demands for funding at the COP26 climate summit. The funds will be intended to support the energy transition to reduce greenhouse gas emissions.
(tfa/tfa)
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