COP26 pact to include watered down phasing out of coal and fossil fuels

COP26 president Alok Sharma speaks with the UN’s Patricia Espinosa (Picture: AFP)

Countries are compelled to accelerate the phase out of ‘unabated coal’ and ‘inefficient fossil fuel subsidies’ in the third draft text of the COP26 agreement.

World leaders are considering it this morning with many hoping they can settle on the agreement, which will be the first to mention either pollutant.

However wording of the text, urging countries to make ‘efforts’ to cut the dirtiest fossil fuels, appears to be a watering down of the deal.

The latest draft also asks nations to ‘revisit and strengthen’ their emissions-cutting targets next year.

It urges developed countries to at least double their collective provision of climate finance to help developing nations adapt to climate change, from 2019 levels, by 2025.

The historic reference to coal and fossil fuel subsidies has survived into the latest draft of the ‘cover decision’ text for an overarching deal that countries are hoping to strike in Glasgow, despite expected pushback from some big producer and emitter nations.

More: Environment

It calls on countries to accelerate technology and policies to shift towards low emission energy systems, by scaling up clean power generation and energy efficiency.

The pact also recognises the need for support towards a ‘just transition’, seen as important to protect those who might be hit by job losses or higher costs from the shift to clean energy.

Scientists have warned that keeping temperature rises to 1.5°C requires global emissions to be cut by 45% by 2030, and to zero overall by mid-century.

MORE : Deadline to reach climate deal at COP26 missed as negotiator ‘brings sleeping bag’

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