Global climate summit to stretch into the weekend

Negotiations at the COP26 climate conference will stretch into the weekend as a deal appears to remain elusive. 

Conference advisor Camilla Born tweeted Friday that another draft agreement will be released early Saturday, with additional meetings later in the day. 

#COP26 Process Update:

– No plenary this evening
– Revised texts overnight informed by consultations, released around 0800
– Informal stocktaking plenary at 1000
– Formal closing plenary in the afternoon

— Camilla Born (@camillaborn) November 12, 2021

On Friday morning, a draft text was released that watered down a previous version’s calls for phasing out fossil fuel subsidies and coal use. The latest version only seeks to eliminate “inefficient” fossil subsidies and coal when technologies aren’t used to capture its emissions. 

During a meeting on Friday, certain issues still appeared to be outstanding.

One is a proposal to establish a fund for reparations to developing countries for the “loss and damage” they have suffered because of climate change. 

“The G77 and China are deeply disappointed that our proposal of establishment of the Glasgow loss and damage facility has not been reflected in the revise cover decision,” said a delegate from Guinea on Friday, speaking on behalf of a group of developing countries. 

Another issue at the conference is how much aid to developing countries should be devoted to helping them adapt to the worst impacts of climate change and how much should be devoted to helping them reduce their own emissions. 

And countries still appeared to be figuring out how to set up carbon credit markets — in which countries and other parties can pay for climate cooling activities to offset their own emissions — under the Paris Agreement.