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Nearly 200 countries adopted the Glasgow Climate Pact in Scotland on Saturday at talks known as COP26, after nearly two weeks of wrangling on everything from how much to limit global warming, what to say about fossil fuels and whether the worst-hit countries by the climate crisis should be compensated, CNN reported.
* The agreement makes unprecedented mention of the role of fossil fuels in the climate crisis. That's something that even the landmark Paris Agreement was unable to achieve. The Glasgow Climate Pact calls for the phasing down of unabated coal and inefficient fossil fuel subsidies.
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Perhaps the most consequential change was language that requests parties to come to COP27 next year in Egypt with updated plans on how to slash greenhouse gas emissions by 2030. Under the Paris Agreement, countries were only obliged to update their goals by 2025.
The idea is that countries will increase their ambition more regularly, which should mean an acceleration to net zero -- a state where the amount of greenhouse gases emitted is not greater than the amount removed from the atmosphere.
* Rich countries agreed more than 10 years ago to transfer $100 billion a year to developing nations to help their transformation to low-carbon economies, and adapt to the climate crisis. Adaptation can involve anything from building sea walls to prevent flooding, to moving communities back from the coast and retrofitting homes to better withstand extreme weather events.
* The Glasgow Climate Pact includes a doubling of money for adaptation by 2025, from 2019 levels, which is progress in this area. But the $100 billion target is still off track, likely to only be met by 2023, as a COP26 Presidency report found. There are also questions over whether developed nations will maintain that level of funding annually.
*The agreement does recognize the importance of loss and damage and agrees to boost technical assistance to affected countries. But instead of agreeing to a dedicated fund, it calls for more dialogue, meaning an actual fund may years away, if it happens at all.