Fossil fuel subsidies: News summary — COP26, Day 10

 

Welcome to day ten of our daily broadcasts from the UN Climate Change Conference in Glasgow, and from our hubs in Nairobi, Stockholm and Washington DC. 
 
Today's theme, Pioneering Fossil Free Solutions is part of Sweden International Business Day. Meet the players who are moving ahead of their competition through bold climate action.
 
With top speakers like Martin Lundstedt, President and CEO of Volvo Group; Viktoria Karsberg, Head of Corporate identity and group Communications at SSAB; Christian Levin, CEO of Scania; Tom Steyer, Co-Executive Chair of Galvanize Climate Solutions; Per Bolund, Swedish Minister for Environment and Climate; and many more.
News summary — COP26, Day 10
 
Some very interesting news started to spread today, with the release of drafts of the main political documents to be signed by governments at COP26. In the CMA draft, which relates directly to the Paris Agreement, paragraph 37 reads:
”Calls upon Parties to accelerate the phasing-out of coal and subsidies for fossil fuels.”
 
The documents also urge countries to strengthen their carbon-cutting targets by the end of 2022. 
 
It should be noted that the drafts are not the final texts, but they do lay a foundation for the negotiations, so this is indeed hopeful news.
 
More good news regarding oil and coal: The Beyond Oil & Gas Alliance – a global coalition led by the governments of Denmark and Costa Rica – is to set an end date to oil and gas production. New member states will be announced at COP26 tomorrow, at a press conference at 12:45 pm GMT. 
 
Please help us put pressure on our governments to do the right thing by sharing and spreading the campaigns below, and by agreeing to the Climate Love given to COP26, for attempting to phase out fossil energy globally.
 
Help us end fossil fuel subsidies
 
Did you know that our governments around the world actively support the destructive fossil fuel industry with $11 million in subsidies* — per minute! That means more than $165 billion since the start of the UN Climate Summit in Glasgow. This sum is already 65 percent higher than the annual climate finance that is currently being discussed at the Glasgow summit.
 
Help us change this. Agree to our ⚠️ climate warning to the G20, and share our partner UNDP:s #DontChooseExtintion campaign.
 
*Source: IMF




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