WASHINGTON: The world must get to work on quickly reducing emissions to limit warming to 1.5 degrees Celsius - a goal that remains within reach under the Glasgow Climate Pact, the UN’s climate agency chief said.
The Glasgow Climate Pact, backed by nearly 200 countries, for the first time targeted fossil fuels - the biggest driver of manmade global warming. It asks governments to accelerate emissions cuts, and promises more money for poor countries struggling to adapt to a warmer world. Nevertheless, the few key victories at the Glasgow talks left Espinosa “hopeful,” she said. One of those victories saw delegates agree on rules for international trading of carbon offsets to meet national climate targets.
“It shows that there is a consensus around the notion that we need to get away from coal, and we need to get away from fossil fuels as well, and also the clear understanding that this is not going to happen overnight,” Espinosa said. Espinosa, a former foreign minister for Mexico, said countries will also be working to launch the so-called Santiago Network, a new secretariat within the UNFCCC created to help countries develop strategies to address the impacts of loss and damages caused by climate change.Espinosa said she will turn her attention to development banks and financial institutions, which will be central to ensuring that developing and vulnerable nations can access needed funds and low-cost loans.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.