UN climate agency publishes draft of final Glasgow COP26 deal

The United Nations climate agency published on Wednesday a first draft of the political decision countries will issue at the end of the COP26 summit.

The seven-page draft agreement, published six hours later than expected, focuses on developing countries’ adaptation to climate change and controversial funding issues after poorer countries claimed richer nations weren’t contributing enough.

The document says meeting the goal to limit global warming to 1.5C, which countries committed to pursue under the Paris climate accord, needs meaningful and effective action in “this critical decade.”

UN’s newly issued draft calls on countries to accelerate the phase-out of coal and subsidies for fossil fuels, however, it has no firm dates or targets on this issue.

The COP’s draft calls for countries to accelerate the phasing-out of coal and subsidies for fossil fuels, and for developed countries to at least double their collective provision of climate finance to help developing countries adapt to climate change. However, it has no firm dates or targets on this issue.

Negotiators from nearly 200 countries will work from the draft to strike a final deal before the summit ends on Friday.

Big divisions remain as countries disagree over the fine details. Among them are disagreements over carbon market rules, the timeline for updating emissions-cutting pledges, and payments to climate-vulnerable nations.

Meanwhile, a number of announcements are expected on the greening of transportation. Emissions from the transportation sector account for about 24% of global emissions.

The “COP cover decision” is being closely watched for what it might lead to bridge the gap between countries’ current climate targets and the more ambitious actions scientists say are needed to prevent disastrous levels of warming.