No agreement has yet been reached on the three main goals of the UN conference – pledges to halve emissions by 2030 in order to maintain the Paris climate agreement’s target of a 1.5 degree Celsius rise in temperature; the need for $ 100 billion in annual financial aid from rich countries to the poor; and the idea that half of that money goes towards adapting to the worst effects of global warming. Several other issues have yet to be resolved, including carbon trading and transparency.
And on the issue of updating countries’ emission targets more frequently – as the poorer countries are striving for – negotiators listed nine different timeframes for future negotiators to choose from.
COP President Alok Sharma named teams of two ministers – one from a rich country, the other from a poor country – on each issue to oversee negotiations on each topic, a method used in the past.
The lack of a solution to the problem of financial commitments shows that the promises of rich countries are “empty commitments,” and without fixing the fact that these climate negotiations cannot be successful, representatives of several countries, including Guinea, said.
“There is a history of unfulfilled promises and unfulfilled commitments on the part of developed countries,” said Diego Pacheco Balanza from Bolivia at the conference.
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