The call for phasing out coal and fossil fuel subsidies remains, which is positive as many observers believed fossil-fuel-rich countries would have it removed. It was again relaxed slightly, with “acceleration efforts towards” inserted before “phasing out coal,” rather than a direct call for a phase-out. Perhaps this is the price to pay for keeping the clause – remember no police document ever named fossil fuels.
It is also added to this section “the recognition of the need for support towards a just transition”, pointing out that funds might be needed to retrain workers in the fossil fuel industry.
The all-important ‘click’ remains – it calls for nations to return to the next Cop in 2022 with more ambitious commitments to cut emissions. Those current until 2030 should lead to a catastrophic warming of 2.4 ° C.
The most substantial changes are in “loss and damage” – the compensation that vulnerable and poor countries want for the destruction already caused by the climate crisis that they haven’t really caused. This is perhaps the most bitterly fought section of all, with low-income countries believing they have a moral right to this money and rich countries like the US and the EU fearing that they will be exposed to financial liabilities. unlimited.
The new text introduces a specific mention of “funds”:
Decides that the Santiago network will receive funds to support technical assistance for the implementation of relevant approaches to avoid, minimize and treat loss and damage
The previous text said “will be supported by a technical assistance mechanism to provide financial assistance”. It’s a small change, but a group of 130 nations, called the G77 + China and representing 85% of the world’s population, called for the inclusion of text to establish a “loss and damage facility”, a specific delivery mechanism for funding, rather than more vague words about helping to set up something.
The text also says:
73 – Decides to establish the [NAME] dialogue among parties, relevant organizations and stakeholders to discuss modalities for funding activities to avoid, minimize and address loss and damage associated with the adverse effects of climate change, to take place during the first session of the SBI, concluding at its 60th meeting
This gives a precise schedule for work dedicated to loss and damage. These are concessions from the rich countries, but it may not be enough. The G77 + China have clearly been lost and the damage is a critical issue for them.
Saleemul Huq, a Bangladesh veteran of each cop, said:
While Mohamed Adow of the Power Shift Africa thinktank said:
There has also been a small movement on financing adaptation – preparing for climate impacts like floods and droughts. The new text specifies the date – 2019 -om which the money must be doubled by 2025. This implies around 40 billion dollars per year.