COP Lack of Progress Is ‘Frightening,’ Says Poor Nations Bloc
(Bloomberg) -- The chairman of the group of the poorest countries said COP26 climate talks have so far been disappointing, and even “frightening.”
“The progress made here is disappointing and in a way also frightening,” Sonam Phuntsho Wangdi, who chairs the so-called Least Developed Countries group, told reporters in Glasgow, Scotland. He called for additional funds to be made available for countries suffering from damage resulting from climate change.
World leaders unveiled a series of pledges during a two-day summit in Glasgow, though much of what has been announced isn’t binding and doesn’t include some key emitters. When talks started, the world was on track for 2.7 degrees Celsius of warming -- a scenario that poses an existential threat to many nations.
On Wednesday, the COP summit is dominated by financiers and central banks speaking about mobilizing private funds to combat climate change.
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