Cop26 live third draft text retains many key elements after talks overrun

The new draft text has relatively few changes, showing that the 196 countries at Cop26 are narrowing down on the most contested issues that will make or break a strong agreement.

The call for the phaseout of coal and fossil fuel subsidies remains, which is positive as many observers thought fossil fuel-rich nations would get it deleted. It has been slightly softened again, with “accelerating efforts towards” inserted before “coal phase out”, rather than a straight call for a phase out. That may be the price of keeping the clause in â€" remember no Cop document has ever named fossil fuels.

Also added to this section is “recognising the need for support towards a just transition”, highlighting that funds may be needed to retrain fossil fuel industry workers.

The all-important “ratchet” remains â€" this requests nations to return to the next Cop in 2022 with more ambitious pledges to cut emissions. The current ones to 2030 are forecast to lead to a catastrophic 2.4C of global heating.

The most substantial changes are on “loss and damage” â€" the compensation vulnerable and poor countries want for the destruction already being cause by the climate crisis they did little to cause. It is perhaps the most bitterly fought section of all, with low income nations believing they have a moral right to this money and rich nations like the US and EU fearing exposure to unlimited financial liabilities.

The new text introduces a specific mention of “funds”:

Decides that the Santiago network will be provided with funds to support technical assistance for the implementation of relevant approaches to avert, minimize, and address loss and damage

The previous text said “will be supported by a technical assistance facility 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, have been demanding the inclusion of text to establish a “loss and damage facility”, a specific delivery mechanism for funding, rather than more vague words about assistance in setting something up.

The text also says:

73 â€" Decides to establish the [NAME] dialogue between parties, relevant organizations, and stakeholders to discuss the arrangements for the funding of activities to avert, minimise and address loss and damage associated with the adverse impacts of climate change to take place at the first sessional period of the SBI, concluding at its 60th session

This gives a specific timetable for dedicated work on loss and damage. These are concessions from rich nations, but it may not be enough. The G77 + China have been clear loss and damage is a critical issue for them.

Saleemul Huq, a veteran from Bangladesh of every Cop, said:

Saleemul Huq
(@SaleemulHuq)

Language on @LossDamage has in fact gone BACKWARDS from yesterday’s text! It seems @COP26 Presidency has been nobbled behind closed doors by the US! Unacceptable! https://t.co/avObHM4N97

November 13, 2021

While Mohamed Adow of thinktank Power Shift Africa said:

Mohamed Adow
(@mohadow)

Vulnerable countries can’t afford to leave #COP26 with this current version of the text on loss and damage. Whether Glasgow delivers a proper finance facility is how this summit will be judged by the world’s most vulnerable countries https://t.co/yyLjSVegjg

November 13, 2021

There has also been a little movement on funding for adaptation â€" preparing for climate impacts like floods and droughts. The new text specifies the date â€" 2019 â€" from which the money must be doubled by 2025. That implies about $40bn a year.

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