Ever stayed up late doing homework or working on a project? Well, that’s what world leaders were doing on Saturday as the COP26 climate talks in Scotland came to a close one day late, ending with a global deal 🤝 to fight climate change.

They also have to stay up late 🤦

…because of different standpoints, especially when it comes to global issues like climate change. Fourteen days of intensive talks and a few all-nighters finally produced some breakthrough pledges.

🐿️: Let me tell you the most important achievement!

  1. We’re eventually targeting coal 🙅

Countries at COP26 agreed to reduce the usage of coal, the first time that coal has ever been mentioned in the fight against climate change.

    • This is a breakthrough 👏 as most countries are highly reliant on coal, which produces more greenhouse gases than the combustion of any other fossil fuel.
  • But the language watered down. At the last minute, India requested that the deal calls on countries to “phase down”, instead of “phase out” unabated coal. This triggered a lot of angst, but delegations agreed to save the deal.
  1. US-China: Hey, let’s work together 🇨🇳🇺🇸

China and the United States also surprised delegates at COP26, agreeing to work together to cut down on methane emissions + cut down deforestation. (More on their deal in our story last Friday!)

  1. We need to regulate carbon trading 🏭

Carbon trading? When country A reduces emissions more than it pledged, it gets the reduction “credits”.  Country B where it’s difficult or expensive to cut greenhouse gases can buy credits from A. 

This voluntary market is growing in a messy sprawl globally, leaving room for abuse. 

But now a deal has been struck ✅ – to make this market more transparent and standardized. 

  • It also includes rules to avoid emissions reductions being counted twice.  

There were a few other big changes, such as agreeing to cut down on methane and trying to help countries that could be affected by climate change – although details are still being worked out.

Any losses in this #COP26?

  • They still disagreed over how rich countries will provide more money for developing nations;
  • And current pledges put the world on track for 2.4°C (warmer), far below the target 1.5°C. 

Read Morning Wrap content on how bad it will go if we miss this target. 

🐿️: If you’re interested to take a look at their pact, here you go

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