Alok Sharma, the COP26 President, said late on Friday that a small number of key issues remain unresolved.
“This is our collective moment in history, this is our chance to forge a cleaner, healthier and more prosperous world, and this is our time to deliver on the high ambition set by our leaders at the start of the summit, we must rise to the occasion,” he said during an informal plenary to update delegates.
He reported that Ministers had worked late into the night to discuss finance and "loss and damage", and that it was still his “sincere intention” to get a final agreement over the line by the end of the day.
“We need a final injection of that can-do spirit to get our shared endeavor over the line,” he said.
The plenary heard statements from various countries, including a strong call from many representatives to add to the outcome text language that would lead to the end of all fossil fuel use, not just coal.
The latest draft text currently states: “Parties to accelerate the development, deployment and dissemination of technologies, and the adoption of policies, to transition towards low-emission energy systems, including by rapidly scaling up clean power generation and accelerating the phaseout of unabated coal power and of inefficient subsidies for fossil fuels”.
“This is personal, it’s not about politics,” said the European Union’s top negotiator, adding that the targets in Glasgow would be “utterly meaningless” unless countries agree on a clear signal to end all fossil fuel subsidies.
On the same topic, John Kerry, the US climate envoy, said that to keep spending money on these types of subsidies is “insanity”.
“Those subsidies have to go. We’re the largest oil and gas producer in the world and we have some of those subsidies and President Biden has put in legislation to get rid of them,” he said.
The US, he continued, struggles each year to find money, “but $2.5 trillion in the last five or six years went into subsidies for fossil fuel. That’s the definition of insanity. We’re allowing ourselves to feed the very problem we’re here to try to cure. It doesn't make sense,” stated Mr. Kerry.
Another thorny issue that remains unresolved is the extent to which developed countries will compensate vulnerable nations for ‘loss and damage’ caused by climate change.
The representative from the G77 and China negotiating group of developing countries, said that they were “deeply disappointed" that their proposal to establish a Glasgow Loss and Damage Facility is not reflected on the text.
“That proposal has been put forward by the entire developing world, to respond to our needs…To address the loss and damage inflicted by climate change”, he said.
Likewise, there was a push from many countries to strengthen the call to keep alive the goal to limit global warming to well below 2, preferably to 1.5 degrees Celsius, and to demonstrate more ambition on climate finance.
“We came to Glasgow with high hopes and expectations, however in this final hour of COP26, we have doubts, and we still keep hearing some pushback on the ambition that is required to close the 2030 gap in line with the 1.5-degree target, reservations on support for loss and damage…and we are still waiting to see much-needed progress on climate finance”, said Buthan’s negotiator, speaking on behald of the Group of Least Developed Countries (LDCs).