Global Upfront Newspapers
Breaking News Cover News World News

G-20 leaders strike Climate Deal that leaves COP26 a lot to do, little progress on warming

The Group of 20 countries struck a climate deal that fell well short of what some nations were pushing for in a compromise accord that gave leaders little to take to the COP26 summit in Glasgow this week.

In a copy of the final communique seen by Bloomberg from the G-20’s two-day summit in Rome, the language mirrors prior pledges made in the 2015 Paris climate accord. Leaders said they “remain committed to the Paris Agreement goal to hold the global average temperature increase well below 2 degrees Celsius and to pursue efforts to limit it to 1.5 degrees Celsius above pre-industrial levels.”

As expected, Sunday’s statement agrees to phasing out investment in new offshore coal power plants, something China already said it would do. “We will put an end to the provision of international public finance for new unabated coal power generation abroad by the end of 2021,” it said.

On domestic coal, the statement only contains a general pledge to support those countries that commit to “phasing out investment in new unabated coal power generation capacity to do so as soon as possible.” 

COP26’s U.K. hosts had aimed to “consign coal to history.” 

Negotiations over the past week saw continuous clashes over both objectives and timelines on climate, with several officials pointing the finger at holdouts China, Russia and India. The last round of talks saw negotiators known as sherpas talk throughout Saturday night, and they celebrated the end of their marathon with applause at the main La Nuvola venue at about 10 a.m.

“If the G-20 was a dress rehearsal for COP26, then world leaders fluffed their lines” said Jennifer Morgan, executive director of Greenpeace International. “Their communique was weak, lacking both ambition and vision, and simply failed to meet the moment.” 

The G-20’s statement offered little in the way of concrete action. It committed to “significantly reduce” greenhouse gas emissions “taking into account national circumstances.” Much of the wording, including references to national circumstances and a circular carbon economy, were favored by countries including Australia, China, India and Saudi Arabia.

The summit rowed back on commitments to phase out domestic coal use in just a few days of haggling over draft statements. A version on Thursday seen by Bloomberg contained a pledge to “do our utmost to avoid building new unabated coal power generation capacity.” Saturday’s draft pushed that to “in the 2030s.”

By agreeing a watered-down communique on climate change, the G-20 opted to keep the group united ahead of the crucial talks in Glasgow. A failure in Rome to agree would have represented a serious setback for prospects of success at COP26.

In other key climate questions:

The G-20 leaders agreed to be “vigilant of the evolution of energy markets”, a reference to surging prices for oil, natural gas and coal that have rocked much of Europe and Asia. The G-20 said it was key to ensure “affordability” of energy.They reaffirmed a commitment to support the green transition in developing countries by mobilizing jointly $100 billion per year annually through 2025The final text no longer has tangible commitments to cut methane emissions, which was in earlier drafts. It now only acknowledges that methane emissions represent a significant contribution to climate change and reducing it would be one of quickest ways to limit the impact of global warming.The communique recognizes the efforts made by some countries to ensure that at least 30% of global oceans and seas are conserved or protected by 2030 but only encourages others to make similarly ambitious commitments.

Elsewhere, the leaders also:

Pledged to boost vaccine supplies to reach global goals of vaccinating at least 40 percent of the population in all countries by the end of 2021 and 70 percent by mid-2022Acknowledged the relevance of shared standards for vaccine certificates but did not go as far as recognizing each others’ passes, as countries including Russia had urgedCelebrated the international tax deal achieved earlier this year

©2021 Bloomberg L.P.

Advertize With Us

See Also

Buhari says “we are going to be harder on criminals,” restates order that anyone found with AK-47 illegally be shot

Global Upfront

IGP orders deployment of X-Squad, Force Provost and Monitoring Unit to beef up security during Christmas, New Year

Global Upfront

Threat to security, irrigation project and Farmer-Herder conflict in Northern Nigeria

Global Upfront

Chief of Air Staff pays 2nd visit to Maiduguri over crash of NAF Alpha-Jet, charge troops to remain resolute, undeterred

Global Upfront

Military “successfully” repels, kills “scores” of Boko Haram/ISWAP terrorists in Marti Army Camp, says Defence Headquarters

Global Upfront

Federal High Court adopts virtual proceedings as part of new practice direction under COVID-19

Global Upfront

I Gave “Drunk” Obiano’s Wife “Dirty Slap To Stop Her From Attacking Me” – Bianca Odimegwu-Ojukwu

Global Upfront

Insecurity: Concerns as Nigeria’s outdated satellite function only by ‘grace’

Global Upfront

COVID 19: Buhari appeals for reduction in price of phone data, calls

Global Upfront

Update: Aregbesola Backtracks, Pulls Down ‘Cryptic Note’ On Governor Gboyega’s 2nd Term Bid Loss, Says It’s Unauthorised

Global Upfront

This website uses Cookies to improve User experience. We assume this is OK...If not, please opt-out! Accept Read More