The COP26 climate agreement is still on a negative slide

Key Takeaways:

• Nearly 200 countries approved the U.N. brokered agreement.
• Two of the world’s largest coal consumers, India and China, proposed a last-minute change to the pact’s fossil fuel language.

Media outlets worldwide have been pressing in on the COP26 agreement, which was reached Saturday night and aims to mitigate the worst effects of climate change.

Following initial objections, opposing countries ultimately conceded.

The United Kingdom

On Sunday morning, the Scottish Mail headlined, “Glasgow wins a climate deal for the world,” as the two-week talks concluded in Scotland’s largest city. But, on Sunday, Scotland began with a more solemn statement: “Make no mistake, we are still on the road to hell.”

The Independent newspaper in London headlined: “Sharma apologizes for watered-down coal deal,” referring to the COP26 president, who became visibly emotional during the final proceedings on Saturday night.

Germany

“World leaders fail to honor climate pledge,” said the English-language edition of Deutsche Welle. According to the report, the United Nations summit has been “slammed as a failure after India and China weakened language on phasing out fossil fuels,” according to the report.

The German tabloid The headline read, “Weltweiter Kohleausstieg eingeleitet,” which translates roughly as “Global phase-out of coal initiated.”

It emphasized that, despite some watering down of the language, this was the first time a COP conference had made specific decisions on coal and fossil fuels.

China

The announcements received less coverage in Chinese newspapers. Still, the deal included “commitments to significantly increase financial support through the Adaptation Fund as developed countries were urged to double their support to developing countries by 2025,” according to state-run news agency Xinhua.

“However, it remains to be seen whether developed countries, whose development is to blame for the majority of today’s climate change repercussions,” according to the Xinhua report.

China is the world’s largest emitter of carbon dioxide from fossil fuel combustion.

Source: CNBC News

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