The latest on U.N. climate summit COP26 in Glasgow:
GLASGOW, Scotland — U.S. special envoy for climate John Kerry said Wednesday that the COP26 climate talks in Glasgow have more energy and focus than previous rounds of climate negotiations in particular because of the strong presence and support of the private sector.
“I think we are going to have the greatest increase in ambition we’ve ever had, we probably do in these first 36 hours, and the real issue is going to be follow-up, working with them,” Kerry told a gathering of mayors from around the globe involved in climate initiatives at a local level.
His comments came as Britain called for the world’s financial industry to channel vast funds towards greener investments to ensure that global efforts to curb global warming succeed.
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GLASGOW, Scotland — Britain has called for the world’s financial industry to channel its vast funds toward greener investments to ensure that efforts to curb global warming succeed.
Treasury chief Rishi Sunak said that the U.K. government is providing new funds to help poor countries cope with climate change. But he said that “public investment alone isn’t enough.”
Sunak called for a “historic wall of capital for the net zero transition around the world.”
But poor countries are angry that after Britain and other wealthy countries failed to meet their commitment to provide $100 billion a year to finance climate-related projects in the developing world by 2020.
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SHYAMNAGAR, Bangladesh — The impact of climate change from more frequent cyclones to tidal flooding is devastating Bangladesh where an estimated 30 million people in the country may be displaced from the coast.
Countries like Bangladesh, which contributes a fraction of the world’s emissions, are pressing for more financing support to cope with these problems at the U.N. climate summit in Glasgow.
A decade-old deal for rich countries to give poor nations $100 billion each year to switch to clean energy and adapt to climate change hasn’t been fulfilled. And the little that has been given is spread too thin to make a difference on the ground.
