It was watered down at the last-minute to a pledge to “phase down” rather than “phase out” coal power, but the inclusion is still significant as the first mention of coal in a COP text.
No big concrete action, but good news the pair are at least talking on climate amid the broader diplomatic standoff.
The rules on international carbon trading bring clarity to companies and standardisation that should help reduce emissions, though some activists are worried they aren’t quite tight enough.
More than 100 countries agreed to slash methane; and there’s a reference to methane for the first time in the pact.
There’s an agreement to properly set up a mechanism — though the finer details and exact cash still need to be hashed out.
BanksFormer Bank of England Governor Mark Carney cajoled banks, investors and insurers representing $130 trillion in assets to decarbonise their businesses by mid-century.
All this leaves us on course for warming of 1.8 degrees Celsius, if all the pledges come to pass, according to the IEA, and it’s a big if.