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COP26 President Alok Sharma Apologizes For Watering Down of Glasgow Climate Pact

The President of #COP26 Alok Sharma was overcome with emotion as he apologized for an eleventh-hour watering down of the Glasgow Climate Pact. Delegates at high-stakes COP26 climate talks in Glasgow agreed on a global deal to boost climate action after last-minute wrangling. They also approved rules that would create the framework for a global carbon market. The final version of the broad document, named the Glasgow Climate Pact, kept contentious proposals despite last-minute pushback from China and India -- two of the world’s biggest emitters. That included language on reducing coal and fossil-fuel subsidies and coming back by next year with new climate targets. The proposals passed after an eleventh-hour watering down, negotiated in plain sight in the plenary room. They also agreed to a set of sweeping rules on international carbon trading. Negotiators reached compromises on issues including how to avoid double-counting of credits and how to make sure a share of proceeds goes to helping poor nations adapt to a warming planet. Still, activists warned that those concessions could set back efforts to cut heat-trapping emissions. Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm Subscribe to our newest channel Quicktake Explained: https://bit.ly/3iERrup Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world. To watch complete coverage on Bloomberg Quicktake 24/7, visit http://www.bloomberg.com/qt/live, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app. Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake: https://cor.us/surveys/27AF30 Connect with us on… YouTube:    / bloomberg   Breaking News on YouTube:    / bloombergquicktakenews   Twitter:   / quicktake   Facebook:   / quicktake   Instagram:   / quicktake