Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

U.N. delays crucial climate summit for a year, cites pandemic

Published 2020-05-28, 07:37 p/m
Updated 2020-05-28, 08:00 p/m
© Reuters. The logo of the United Nations is seen on the outside of their headquarters in New York

By Kate Abnett and Valerie Volcovici

(Reuters) - The coronavirus pandemic has prompted the United Nations to delay until late 2021 a crucial climate summit that had been scheduled for Britain this year, officials said on Thursday.

This year's meeting, known as the COP26 summit, had been billed as the most important climate change summit since the 2015 talks that produced the Paris Agreement. Hundreds of world leaders had been expected to respond to public pressure for stronger global climate action by delivering pledges to slash greenhouse gas emissions more rapidly.

The summit will be rescheduled to Nov. 1 to 12, 2021, the UN's climate body decided, dates proposed by the British government. Glasgow, Scotland will remain the host city, and there will first be a warm-up summit in Italy.

British climate official Alok Sharma said the delay would give countries more time to rebuild economies with climate change prioritized. Negotiators from bloc of less developed countries also urged governments not to use the pandemic to delay stronger climate plans, but instead to boost renewable energy, conservation and other green measures as economies recover.

European Union leaders proposed such a plan on Wednesday to tie a 750 billion euro recovery fund to climate goals.

"The postponement of the COP should not affect the resolve of countries to deliver on these commitments in 2020,” said Sonam Wangdi of Bhutan, a member of the LDC bloc.

This year's COP26 summit was supposed to serve as a deadline for governments to commit to the more-aggressive emissions-cutting goals needed to deliver the Paris Agreement's target to cap global temperature increases at 2 degrees Celsius and aim for 1.5 degrees Celsius above pre-industrial times.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Current pledges put the world on track for roughly 3 degrees Celsius of warming this century. Scientists say that level would have severe consequences for sea-level rise, extreme weather events and mass migration as people flee regions where the local climate becomes uninhabitable.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.