The draft requires the following:
- The countries would convene in 2019 to clearly demonstrate how they are faring in meeting those targets.
- In 2020, countries would be required to meet and to submit new plans demonstrating how they’d ratchet up their emissions reductions plans by 2025.
- They’d then have to reconvene every five years with fresh, tougher plans.
A Scheduling Victory for Some:
The every-five-year schedule is a victory in the negotiations for the
United States and for environmental advocates and vulnerable island
countries like the Marshall Islands. Developing countries like India had been
pushing to wait for the first meeting until 2030, and to require only
10-year commitments to ratcheting up...
The $100 Billion Option:
The new draft also requires fairly robust actions on climate change
finance. It would legally require developed countries to shell out money
to help poor countries adapt to the “loss and damage” sustained by
climate change, and help them transition from fossil fuels to clean
energy. One option in the draft text would set
$100 billion annually as a floor to be given from rich countries to poor
countries to deal with climate change.
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