COP26 ends with new global deal on climate

The United Nations climate change conference concluded here Saturday after a one-day extension, with negotiators agreeing on a new global pact to tackle climate change, reported Xinhua.

Nearly 200 participating countries adopted the Glasgow Climate Pact at the end of 26th session of the Conference of the Parties (COP26) to the United Nations Framework Convention on Climate Change.

Some encouraging progress was made. Agreement was finally reached on Article 6 of the Paris Agreement, which relates to carbon market mechanisms, paving the way for effective implementation of the Paris deal to cut emissions through market-based approaches.

Negotiators also agreed to phase down coal, the dominant source of carbon dioxide emissions in the process of electricity generation. It is the first explicit mention of fossil fuels in a COP agreement.

During COP26, more than 100 countries have promised to end deforestation by 2030.

COP26, which kicked off on Oct. 31, is the first climate change conference after the five-year review cycle under the Paris Agreement inked in 2015. The Egyptian city of Sharm El Sheikh will play host to COP27 in 2022.