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‘Moment of truth’ for the planet as COP26 summit reaches final stage of agreement

Australia says it can accept the latest draft COP26 deal as talks stretched into an extra day, but a unanimous pledge faced vocal opposition from major coal users China, India and South Africa.

The global summit again heard the opinions of delegates on the latest wording which retains language about phasing out coal and fossil fuels, albeit watered down.

Nations such as the Maldives, comprised of nearly 1,200 islands, told the summit the difference between rising temperatures of 1.5C or 2C was “a death sentence for us”.

But developing nations were loudly critical of phasing out coal, with India angrily demanding the right to emit its fair share of pollution as part of its economic development.

Australia’s representative told the COP26 summit he did not object to the language around coal or fossil fuel subsidies in the draft document.

“Australia can accept the present text and we call on all parties to look at how we can come together to deliver a successful outcome from COP26.”

He added that for Australia, transparency and the rules on how carbon markets are delivered are critical.

Australia also welcomed the need to address issues of human rights and the rights of Indigenous peoples in the section dealing with carbon markets.

COP26 president Alok Sharma told delegates the outcome of this climate gathering was “the moment of truth for our planet” as he tried to avert failure at the talks.

Mr Sharma said the world had reached a critical juncture where it must come together and he urged delegates to “reach an agreement here for the sake of our planet and for present and future generations.”

Extinction Rebellion protesters believe COP summits to date have been failures. Photo: Getty

The final deal will require the unanimous consent of the almost 200 countries present, ranging from coal- and gas-fuelled superpowers to oil producers and Pacific islands fearful of a rise in sea levels.

The issue of subsidies for oil, gas and coal has become a major sticking point at the summit, where negotiators already missed a Friday deadline to strike an agreement to limit global warming to 1.5C.

Like earlier versions, the latest draft of the conference agreement attempted to balance the demands of climate-vulnerable countries, big industrial powers and those that need fossil fuels for their economic development.

Final stretch

After nearly two hours hearing from delegates, many of which urged support of the deal even though it wasn’t perfect, the COP26 president said the summit would finally move to the next stage.

Mr Sharma said delegates would take a break followed by a formal meeting to “consider and adopt” the agreement which would be a highly technical session.

In the final push, countries will be expected to decide whether to officially sign up to the Glasgow Climate Pact.

India’s anger

India stood out as a key opponent to a deal, backed by Iran.

India’s environment and climate minister Bhupender Yadav said he disagreed with the language on fossil fuel subsidies and that the draft lacked balance.

In one of the strongest criticisms of the COP26 draft, Mr Yadav said developing countries had the right to use the remainder of the so-called global “carbon budget” or the amount of carbon dioxide the world could release before warming crossed the 1.5C threshold.

“Mr President thank you for your efforts to build consensus,” he told the UK’s COP26 president, Alok Sharma, at a so-called stocktaking plenary.

“I am afraid, however, the consensus remained elusive.

“In such a situation, how can anyone expect that developing countries can make promises about phasing out coal and fossil fuel subsidies when developing countries have still to deal with their development agendas and poverty eradication?”

Mr Yadav also criticised what he described as “lack of balance” in the agreement, an argument developing countries have made before when pushing for more money to better adapt their countries to deal with the effects of climate change.

 

-with AAP

The post ‘Moment of truth’ for the planet as COP26 summit reaches final stage of agreement appeared first on The New Daily.


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