November 14, 2021

THE GND IS TOO CAUTIOUS:

COP26 Seals Breakthrough Climate Deal After Major Compromises (Akshat Rathi, Jess Shankleman, and John Ainger, November 13, 2021, Bloomberg)

Negotiators from almost 200 countries clinched a deal that seeks to keep the most ambitious goal of the Paris Agreement alive, breaking new ground in the fight against climate change but punting the hardest decisions into the future.​​

After two weeks of often fraught United Nations COP26 talks, delegates agreed to reduce the use of coal, end "inefficient" fossil-fuel subsidies and boost their climate targets sooner. The Glasgow Climate Pact puts the world, barely, on a path to limit the rise in global temperatures to 1.5 degrees Celsius from pre-industrial times -- the stretch goal of the Paris Agreement and the level scientists say is needed to avoid catastrophic warming.

"This is the beginning of that 10-year sprint," said John Kerry, the U.S. climate envoy. "We are in fact closer than we have ever been before to avoiding climate chaos and securing cleaner air, safer water and a healthier planet."

And market forces will do it faster.

Posted by at November 14, 2021 12:00 AM

  

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