Morning everyone- yes it’s Saturday but I was always going to be watching out for the new COP texts so here is another thread #COP26 #EdinUniCOP26 1/n
Firstly, this animation of the heating of the Artic reminds us why this matters- climate change is now, not some distant prospect 2/n
https://twitter.com/zlabe/status/1458801709837209606
As background a view on the importance of the U.K. recent China- US agreement 3/n theguardian.com/commentisfree/…
And @billmckibben gives his view on social change 4/n theguardian.com/commentisfree/…
We’re also reminded on the limits of carbon offsets using land/trees here 5/n theguardian.com/environment/20…
Meantime apparently Scotland is considering joining the BOGA alliance for fossil fuels phase out 6/n ft.com/content/bbeab1…
Which might be easier than you think as the cost of capital of renewables keeps falling whilst O and G is stable/rises 7/n See here bloomberg.com/news/articles/… and here from @NatBullard
https://mobile.twitter.com/natbullard/status/1458834203202703361?s=21
@BusinessGreen mention a couple more corporate pledges to have emerged 8/n here businessgreen.com/news/4040272/s… and here businessgreen.com/news/4040252/a…
Australia has been named ‘colossal fossil’ for its disastrous performance at the COP26 talks 9/n theguardian.com/environment/20… and here theguardian.com/environment/20…
@BusinessGreen also give their take on COP overall here 10/n businessgreen.com/blog-post/4040…
And @michaelujacobs reminds us what’s going on with the negotiations 11/n as last night foundations tried to help kick start the loss and damage discussions here docs.google.com/document/d/1xe…
https://twitter.com/michaelujacobs/status/1459204766077267972
Ok! Enough throat clearing ! Around 9am the two new key texts were published 12/n here unfccc.int/sites/default/… and here unfccc.int/sites/default/…
A whole slew of technical texts, which is a good sign, have also been published here 13/n unfccc.int/documents
High level reaction from @_richardblack here 14/n
https://twitter.com/_richardblack/status/1459460689395863556
For the super detailed amongst you @duycks has analysed the changes from the previous texts here 16/n
https://twitter.com/duycks/status/1459449095987384330
On the article 6 ( carbon markets) - firstly a reminder of the issues and how technical, but important to get it is to get this bit right 17/n carbonbrief.org/in-depth-q-and…
@DrSimEvans @mattadamw seem to think text is reasonable -that deal is close.I’d say your view on whether that’s a good thing depends on what role,if any,you think markets should play. All of us should be worried about double counting,hot air,cheating 18/n
https://mobile.twitter.com/mattadamw/status/1459456428670959618?s=20
https://twitter.com/DrSimEvans/status/1459440332840615941
From my fairly limited understanding of the details, current text looks reasonable but surely the proposed ‘share of proceeds’ should be higher than 5% and the retirement rate of 2% should be MUCH higher 19/n
So it seems to me more elements of the overall package are clearer and close to a deal. HOWEVER it’s clear from reactions that the ‘loss and damage’ section is provoking a strong sense things have gone backwards and/or are inadequate 20/n and here
https://mobile.twitter.com/mohadow/status/1459460799349538821?s=21
https://twitter.com/SaleemulHuq/status/1459460191834062851
And that finance overall is still not good enough for many countries- so much still to discuss before the new text emerges- but progress has been made in the 12 hours or so it seems - keep tuned… 21/n
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