# “One minute to midnight” says Johnson as climate conference opens
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2021-11-01
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: COP26 Conference: Leaders Fail to Agree on Ambitious Carbon
Meta Description: Stay informed on the critical U.N. conference in Glasgow to prevent irreversible climate change. World leaders must act now to save our planet.
URL: https://financedigest.com/one-minute-to-midnight-says-johnson-as-climate-conference-openshtml

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By Mark John and Katy Daigle

GLASGOW (Reuters) -A U.N. conference https://www.reuters.com/business/cop critical to averting the most disastrous effects of [climate change](https://www.financedigest.com/exclusive-world-bank-seeks-more-funds-to-address-climate-change-other-crises-document.html "Exclusive-World Bank seeks more funds to address climate change, other crises -document") kicked off on Monday, its task made even more daunting by the failure of major industrial nations to agree ambitious new commitments.

The COP26 conference in the Scottish city of Glasgow opened a day after the G20 economies failed to commit to a 2050 [target to halt net carbon emissions – a deadline widely cited as necessary to prevent the most extreme global](https://www.financedigest.com/toyotas-july-global-vehicle-output-drops-again-puts-annual-target-in-doubt.html "Toyota’s July global vehicle output drops again, puts annual target in doubt") warming.

Instead, their talks in Rome only recognised “the key relevance” of halting net emissions “by or around mid-century”, set no timetable for phasing out [coal at home and watered down promises to cut emissions](https://www.financedigest.com/citi-pledges-to-cut-emissions-for-more-sectors-including-coal.html "Citi pledges to cut emissions for more sectors including coal") of methane, a greenhouse gas many times more powerful than carbon dioxide.

Their commitment to phase out fossil fuel subsidies “over the [medium term”](https://www.financedigest.com/ubisoft-vows-to-get-back-to-operating-margin-above-20-in-medium-term.html "Ubisoft vows to get back to operating margin above 20% in medium term") echoed wording used by the G20 at a summit in Pittsburgh as long ago as 2009.

Humanity has long since run down the clock on [climate change](https://www.financedigest.com/deloitte-research-reveals-inaction-on-climate-change-could-cost-the-worlds-economy-us178-trillion-by-2070.html "Deloitte research reveals inaction on climate change could cost the world’s economy US8 trillion by 2070"). It’s one minute to midnight on that Doomsday clock and we need to act now,” [British Prime Minister](https://www.financedigest.com/british-doctors-strikes-risk-patient-safety-minister-says.html "British doctors’ strikes risk patient safety, minister says") Boris Johnson told the opening ceremony.

If we don’t get serious about [climate change](https://www.financedigest.com/scientists-in-germany-turn-up-heat-on-seagrass-in-climate-change-fight.html "Scientists in Germany turn up heat on seagrass in climate change fight") today, it will be too late for our children to do so tomorrow.

As Johnson was speaking, [Swedish activist Greta Thunberg retweeted an appeal for her millions](https://www.financedigest.com/exclusive-northvolt-plots-ev-battery-grab-with-750-million-swedish-lab-plan.html "Exclusive-Northvolt plots EV battery grab with 0 million Swedish lab plan") of supporters to sign an open letter accusing leaders of betrayal.

“This is not a drill. It’s code red for the Earth,” it read. [“Millions will suffer as our planet is devastated — a terrifying future that will be created](https://www.financedigest.com/global-cryogenic-submerged-motor-pumps-market-to-create-an-absolute-opportunity-of-us-714-4-million-by-2030.html "Global Cryogenic Submerged Motor Pumps Market to Create an Absolute $ Opportunity of US$ 714.4 Million by 2030"), or avoided, by the decisions you make. You have the power to decide.”

Many of those leaders were due to take to the stage in Glasgow at the start of two weeks of negotiations that conference host [Britain is billing](https://www.financedigest.com/britain-considers-energy-bill-subsidy-for-industrial-firms.html "Britain considers energy bill subsidy for industrial firms") as make-or-break.

DISCORD

Discord among some of the world’s [biggest emitters about how to cut](https://www.financedigest.com/ecb-can-cut-carbon-footprint-by-shedding-bonds-of-biggest-polluters.html "ECB can cut carbon footprint by shedding bonds of biggest polluters") back on coal, oil and gas, and help poorer countries https://www.reuters.com/business/environment/climate-finance-could-make-or-break-cop26-summit-heres-why-2021-11-01 to adapt to global warming, will not make the task easier.

At the G20, U.S. President Joe [Biden singled out China](https://www.financedigest.com/biden-signs-bill-to-boost-u-s-chips-compete-with-china.html "Biden signs bill to boost U.S. chips, compete with China") and Russia, neither of which sent its leader to Glasgow, for not bringing proposals to the table.

Chinese President Xi Jinping, whose country is by far the biggest emitter of greenhouse gases, ahead of the United States, was due to address the conference on Monday in a written statement, according to an official schedule.

President Vladimir Putin of Russia, one of the [world’s top](https://www.financedigest.com/top-5-restaurants-in-the-world.html "Top 5 restaurants in the world") three oil producers along with the United States and Saudi Arabia, dropped plans to participate in any talks live by video link, the Kremlin said.

Turkish [President Tayyip Erdogan said he had decided to stay away after Britain](https://www.financedigest.com/taiwans-president-looks-forward-to-britain-supporting-its-cptpp-bid.html "Taiwan’s President looks forward to Britain supporting its CPTPP bid") failed to meet Ankara’s demands on security arrangements and protocol, the Turkish broadcaster NTV reported.

Less senior delegates – many of them held up on Sunday by disruptions to the [rail service between London](https://www.financedigest.com/immediate-lift-of-oxford-property-prices-to-result-from-new-direct-high-speed-rail-connection-with-london.html "“Immediate lift” of Oxford property prices to result from new direct high speed rail connection with London") and Glasgow – had more mundane problems.

More than a thousand had to shiver https://www.reuters.com/business/environment/queuing-save-world-delegates-head-into-cop26-summit-venue-2021-11-01 for over an hour in a bottleneck [outside the venue to present proof of a negative COVID-19 test and gain access](https://www.financedigest.com/over-a-third-of-uk-firms-looking-to-globalise-it-to-access-tech-talent-outside-the-uk.html "Over a third of UK firms looking to globalise IT to access tech talent outside the UK"), while being treated by activists to an electronic musical remix of Thunberg’s past speeches.

PROMISES, PROMISES

Delayed by a year because of the COVID-19 pandemic, COP26 aims to keep alive a target of capping global warming at 1.5 degrees Celsius (2.7 Fahrenheit) above pre-industrial levels https://www.reuters.com/business/cop/paris-glasgow-cutting-through-climate-jargon-2021-10-27 – a level scientists [say would avoid](https://www.financedigest.com/uk-to-avoid-recession-this-year-but-outlook-still-weak-bcc-says.html "UK to avoid recession this year but outlook still weak, BCC says") its most destructive consequences.

To do that, it needs to [secure more ambitious pledges](https://www.financedigest.com/hungary-pledges-legal-changes-to-secure-eu-recovery-funding-govt.html "Hungary pledges legal changes to secure EU recovery funding – govt") https://www.reuters.com/world/uk/cop26-what-would-success-look-like-climate-summit-2021-10-31 to reduce emissions, lock in billions in climate-related financing for developing countries, and finish the rules for implementing the 2015 Paris Agreement, signed by nearly 200 countries.

Existing pledges to cut emissions would allow the planet’s average surface temperature to rise 2.7C this century, which the United Nations [says would supercharge the destruction that climate](https://www.financedigest.com/live-up-to-your-climate-promises-uk-pm-will-say.html "“Live up to your climate promises,” UK PM will say") change is already causing by intensifying storms, exposing more people to deadly heat and floods, raising sea levels and destroying natural habitats.

Developed countries confirmed last week that they would be three years late in meeting a promise made in 2009 to provide $100 billion a year in [climate](https://www.financedigest.com/g7-launches-climate-shield-fund-some-countries-wary.html "G7 launches climate ‘Shield’ fund, some countries wary") finance to developing countries by 2020.

Africa is responsible for only 3% of global emissions, but Africans are suffering the most violent consequences of the [climate crisis,” Ugandan activist](https://www.financedigest.com/climate-activists-plan-daily-protests-after-blocking-10-uk-oil-terminals.html "Climate activists plan daily protests after blocking 10 UK oil terminals") Evelyn Acham told the Italian newspaper La Stampa.

They are not responsible for the crisis, but they are still [paying the price](https://www.financedigest.com/shell-energy-to-pay-for-overcharging-price-cap-customers-ofgem.html "Shell Energy to pay for overcharging price cap customers -Ofgem") of colonialism, which exploited Africa’s wealth for centuries,” she said. We have to [share responsibilities fairly.”](https://www.financedigest.com/going-dutch-can-banks-get-a-fair-share-in-the-age-of-open-banking.html "Going Dutch – can banks get a fair share in the age of open banking?")

Two days of speeches by [world leaders](https://www.financedigest.com/world-leaders-to-attend-queen-elizabeths-funeral.html "World leaders to attend Queen Elizabeth’s funeral") will be followed by technical negotiations. Any [deal may not be struck until close](https://www.financedigest.com/greece-britain-discussing-parthenon-sculptures-return-but-deal-not-close-athens-says.html "Greece, Britain discussing Parthenon Sculptures return but deal not close, Athens says") to or even after the event’s Nov. 12 finish date.

(Reporting by Elizabeth Piper and Jeff Mason; writing by Mark John and Kevin Liffey; editing by Barbara Lewis and Alexander Smith)


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