, calls on 197 countries to report their progress towards tackling climate change at COP27 in Cairo, Egypt. The agreement strengthens global consensus to accelerate action on climate change this decade. Why were African representatives at COP26 frustrated?
On its part, China points a finger back at the US and the developed world for being hypocritical. Their economies have benefited immensely fromlike coal and crude oil. However, these developed countries do not want China to benefit from the same by constraining its economy through greenhouse-gas emission restrictions.
Climate change is an existential threat. However, in major developed-country cities like New York, Rome, London, Paris, Berlin, Los Angeles, and Tokyo, the weakened economies of these countries, coupled with the political lobbying of the fossil fuel companies, makes drastic action to tame the climate crisis unattainable.
In addition, these subsidies skew the market in favor of fossil fuel companies, which already rake in multibillion dollar profits in oil extraction. The wording on the Glasgow Climate Pact was toothless as far as aggressively dealing with subsidies to oil companies. It called for a removal of inefficient subsidies rather than what was needed: the removal of all subsidies on fossil fuels.
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