Developed countries are also keen to expand the list of donor countries, possibly including China to provide climate finance
The 26th Conference of Parties (CoP26) to the United Nations Framework Convention on Climate Change is nearing its end with barely a couple of days left. Here’s a snapshot of what went on at the event November 9, 2021:
- Civil society groups raise alarm over inadequate focus on finance and fossil fuel phaseout at CoP26.
- Finance discussions continued throughout the summit — Developed countries objecting to doubling adaptation finance and also disagreed on the definition of climate finance (Earth Negotiations Bulletin).
- Developed countries are also keen to expand the list of donor countries, possibly including China to provide climate finance.
- The EU’s position behind closed doors is rumoured to be blocking a separate stream for adaptation finance, and evading concrete commitments to define finance, according to sources.
- Several negotiators, including the G-77 / China finance coordinator tested positive for the novel coronavirus disease (COVID-19) and their presence is critical for a meaningful outcome from the summit (Earth Negotiations Bulletin).
- The Climate Action Tracker (CAT) unveiled its latest analysis which finds that “the current 2030 targets (without long-term pledges) put us on track for a 2.4°C temperature increase by the end of the century”. They have also acknowledged that natural gas is “not Paris Agreement compatible”.
- Some 29 countries committed to end international public finance for unabated oil, gas and coal by the end of 2022, according to a press release by Oil Change International.
- In CoP26 negotiations, the nine options presented for Common Timeframes, were brought down to two, through consultations led by the ministers of Rwanda and Switzerland.
- India will not update its NDCs till there is clarity on climate finance, sources suggest.
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