According to the UN Secretary-General, the climate summit is in danger of failure: The COP26 participating countries are trying to agree on the text of the document.

The 26th UN Climate Change Conference (COP26) in Glasgow published the draft text of the final agreement, as the deadline set for signing the document expired on Friday evening, but was extended.

At the moment, 197 countries are trying to agree on the final version.

The document is intended to approve the goal agreed in Paris in 2015: to keep global warming within 1.5 degrees Celsius in comparison with the pre-industrial level (the second half of the XIX century).

The draft agreement implies an accelerated and significant reduction of greenhouse gas emissions, including a reduction of carbon dioxide emissions by 45 percent by 2030 compared to the level of 2010, and to zero by about the middle of the XXI century.

The document also stipulates the need to create a mechanism aimed at mitigating the effects of climate change in the current decade.

During the negotiations, under pressure from a number of countries, the wording on the gradual abandonment of fossil fuels was smoothed out. The previous draft of the agreement stated that the parties “will pedal the rejection of coal and refuse to allocate subsidies for fossil fuels.”

However, the latest version of the document instead calls for “accelerating the phasing out of coal-fired power and inefficient fossil fuel subsidies.” This will allow producers and consumers to continue using coal if carbon capture technology is used to reduce emissions from its combustion.

Greenpeace Executive Director Jennifer Morgan sharply criticized the changes. “This is not the groundbreaking deal we had hoped for in Glasgow,” Greenpeace said in a statement.

At the same time, the new draft document strengthens the wording concerning the financing of measures to mitigate the harmful effects of climate change. We are talking about the funds that rich countries – the main culprits of harmful emissions – will transfer to poorer countries to adapt to climate change and “decarbonize” their economies.

The latest draft text of the document states that “industrialized countries should at least double the collective contributions sent to developing countries by 2025.”

According to the representative of the United Nations climate program Cassie Flynn, the issue of financing the fight against climate change will be crucial for reaching the final text of the agreement.

Flynn added that the promise of developed countries to transfer $ 100 billion to developing countries by 2020 to help them cope with the climate crisis has not been fulfilled.

At the same time, the joint statement by the United States and China on working together to reduce emissions in the hope of keeping global warming within 1.5 degrees Celsius gave additional impetus to the COP26 negotiations, Flynn noted: “When the world’s two largest culprits of [greenhouse] emissions united and said they would work together, it became a really significant signal for the rest of the world.”

UN Secretary-General Antonio Guterres on Friday warned that the COP26 climate summit is in danger of failure.

“The goal is still achievable, but it is on life support,” Guterres said in an interview with the Associated Press. He warned that governments should reconsider their plans to reduce harmful emissions, determined at the national level, in order to achieve the overall goal of reducing global warming.