Fossil fuel subsidies, coal stay in new Cop 26 text

Fossil fuel subsidies, coal stay in new Cop 26 text

London, 13 November (Argus) — Speeding up the phasing out of "inefficient" fossil fuel subsidies and unabated coal-fired power generation remain in the latest version of the UN climate summit Cop 26 cover decision.

The third draft was published this morning after negotiations went past yesterday's 18:00 GMT deadline. The text has had the phrase "recognizing the need for a just transition" appended to it. Fossil fuels have never appeared in the final text of a Cop summit before although they have featured in earlier drafts.

A plenary session started at 10:00 GMT today to allow parties to comment publicly on the latest draft. Cop 26 president Alok Sharma said he aims to get a final decision on the text by the end of today but previous Cop summits have run much further over time.