NATIONS AGREE TO SPEED UP ACTION TO REDUCE GLOBAL WARMING

Climate negotiators ended two weeks of intense talks on Saturday with consensus on urgently accelerating climate action. The Glasgow Climate Pact, combined with increased ambition and action from countries, means that 1.5C remains in sight, but it will only be delivered with concerted and immediate global efforts. The Glasgow Climate Pact will speed up the pace of climate action. All countries agreed to revisit and strengthen their current emissions targets to 2030, known as Nationally Determined Contributions (NDCs), in 2022. This will be combined with a yearly political roundtable to consider a global progress report and a Leaders summit in 2023. The Paris Rulebook, the guidelines for how the Paris Agreement is delivered, was also completed today after six years of discussions. This will allow for the full delivery of the landmark accord, after agreement on a transparency process which will hold countries to account as they deliver on their targets. This includes Article 6, which establishes a robust framework for countries to exchange carbon credits through the UNFCCC. And for the first time, heeding calls from civil society and countries most vulnerable to climate impacts, the COP agreed action on phasing down fossil fuels. COP decisions went further than ever before in recognising and addressing loss and damage from the existing impacts of climate change. There were also commitments to significantly increase financial support through the Adaptation Fund as developed countries were urged to double their support to developing countries by 2025. The final COP26 text follows two years of intense diplomacy and campaigning undertaken by the UK Presidency to raise ambition and secure action from almost 200 countries....