A new cover decision was released by the Glasgow climate change conference  Presidency on Friday morning after there was no consensus on the previous one released on Wednesday.

The new draft reaffirms the Paris Agreement temperature goal of holding the increase in the global average temperature to well below 2 degrees C above pre-industrial levels and pursuing efforts to limit the temperature increase to 1.5 degrees C above pre-industrial levels.

Instead of “urging” parties to revisit and strengthen the 2030 targets in their nationally determined contributions, as necessary to align with the Paris Agreement temperature goal by the end of 2022, the new draft “requests” parties to revisit and strengthen the 2030 targets.

The draft has removed the bit on the need to limit global warming to 1.5 degrees C by 2100. It now states that it, “recognizes that limiting global warming to 1.5 °C requires rapid, deep and sustained reductions in global greenhouse gas emissions.”

There are no major changes to the rest of the text. In summary, the draft continues to recognise the 1.5-degrees global warming goal. It also recognizes that limiting global warming to 1.5 °C requires rapid, deep and sustained reductions in global greenhouse gas emissions, including reducing global carbon dioxide emissions by 45% by 2030 relative to the 2010 level and net-zero around mid-century, as well as deep reductions in non-carbon dioxide greenhouse gases.

The draft only re-emphasizes the need for scaled-up financial resources to vulnerable countries and encourages relevant multilateral institutions to consider how climate vulnerabilities should be reflected in the provision and mobilization of concessional financial resources and other forms of support, including Special Drawing Rights.

 On finance, the only thing developing countries have got is a more aggressive ‘tone’ in the text, rather than anything meaningful. So, it is ‘deeply regretted’ that the 100 bn target is not achieved, and developed parties are ‘urged’ to meet this by 2025.

Chaturvedi said, “The financial facility for loss and damage is very useful. But if progress on it is at the same pace as that of the larger finance debate, the delivery will leave much to be desired”.

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