UN draft resolution calls on countries to phase out coal and subsidies for fossil fuels News
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UN draft resolution calls on countries to phase out coal and subsidies for fossil fuels

The first draft resolution of the 26th Conference of the Parties (COP26) of the United Nations Framework Convention on Climate Change (UNFCCC) was released on Tuesday.

The draft is divided into eight sub-topics focusing on each issue the countries have decided to focus on. The draft aims to ensure that all the 200 nations who were part of the conference ensure that they make efforts to tackle the issue of global warming on a priority basis before it becomes catastrophic while keeping in mind the changes that occurred due to the 2019 Pandemic.

The draft has welcomed the developed nations to increase their provision of climate finance to support adaptation in developing country Parties in response to their growing needs. While also urging the developing nations to be more proactive to tackle the issue of global warming and contribute.

While elaborating upon the issue of global warming, the draft focuses on the Paris Agreement temperature goal of holding the increase in the global average temperature to well below 2 °C above pre-industrial levels and pursuing efforts to limit the temperature increase to 1.5 °C above pre-industrial levels.

It also aims to reduce carbon dioxide emissions by 45 percent by 2030 relative to the 2010 level and to net-zero around mid-century. Emphasis on mobilizing support for developing country Parties, beyond USD 100 billion per year for climate finance from all sources to reach the achievement.