deal or No deal ?

The 200 or so signatories to the Paris Agreement put them back to work on Saturday in an effort to eventually pull an agreement aimed at halting global warming at COP26. A third version of the text of the final announcement is expected later today, while points of disagreement remain.

At the heart of the tension is the financial envelope to help the poorest countries – those least responsible for climate change, but on the front lines of its effects – to reduce their emissions and withstand storms, heat waves. To prepare for more storms, the growing drought.

Developing countries have also proposed creating a specific mechanism to take into account “loss and damage”, that is, the damage already caused by the devastating effects of storms, droughts and heat waves that multiplies. At the moment, blocked by the United States and the European Union.

In addition, the provisional text calls on member states to regularly increase the emissions reduction commitments provided for in the Paris Agreement, starting in 2022. Even if the possibility of adjustment to “specific national conditions” has been made. Added, provoking criticism from NGOs over countries’ genuine ambition to limit global warming.

Fossil fuels are also the main cause of global warming. Included in the final draft declaration is provision – softer than the first version – for anyone to release their funding, without being satisfied.