An inclusive climate deal is what CoP-26 must deliver4 min read . Updated: 28 Oct 2021, 10:06 PM IST
Private-sector investment might have to finance climate action in terms of an energy transition but these could involve complex contracts for which developing countries lack regulatory set-ups
CoP-26, or the Conference of Parties, will meet in Glasgow from 31 October to 12 November. More than 20,000 delegates representing 195 countries are expected to negotiate a better climate deal. A central aim of the 2015 Paris Agreement was to keep the global rise in temperatures from exceeding 2°C above the pre-industrial level and ideally keep it below 1.5°C. The latest report of the Intergovernmental Panel on Climate Change (bit.ly/3mjfpgk), however, indicates that if urgent action is not taken to meet this goal, climate catastrophes will loom large on the planet’s future. This year alone has seen an unnerving proliferation in extreme climatic events—from droughts to floods to wildfires. While developed nations pledged to contribute $100 billion annually to help developing countries transition to clean energy, this spending target remains mostly unfulfilled.