COP26 is a ‘wake-up call’ and the industry needs to face reality, says OPEC’s Barkindo

COP26 is a ‘wake-up call’ and the industry needs to face reality, says OPEC’s Barkindo

The secretary general of oil producer group OPEC has said the in Glasgow was "definitely a wake-up call." Speaking to CNBC at the in Abu Dhabi, Mohammad Barkindo was asked if the — which included a late compromise on language related to coal — was a success. "I wouldn't call it a failure," Barkindo told Dan Murphy. "I think the U.K. presidency did an extremely good job in bringing back Paris on track in Glasgow." "It's not a mean achievement to rebuild the consensus of Paris in Glasgow if you follow the fractures we saw after the withdrawal of the United States," he added. The , adopted in 2015, aims to "limit global warming to well below 2, preferably to 1.5 degrees Celsius, compared to pre-industrial levels." The task is huge, and the United Nations has noted that 1.5 degrees Celsius is considered to be "the upper limit" when it comes to avoiding the worst consequences from climate change. The COP26 deal sought to build on this and prevent the worst effects of climate change, although it faced stumbling blocks related to the phasing out of coal, fossil fuel subsidies and financial support to low-income countries. India and China, both