FirstFT: COP26 agrees to new climate rules, but weakens coal commitments

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COP26 Glasgow Climate Summit successfully allowed 197 countries Agree to the new rules Limit greenhouse gas emissions, but India and China objected at the last minute Block the promise End coal use and fossil fuel subsidies.

although Global executives The deal is widely welcomed, but many people say it is far from enough. Some people complain that companies have shown greater urgency than many governments on the issue of global warming.

Chairman Alok Sharma resists tears In the last few minutes, he apologized to the other ministers because he played down a clause on fossil fuels.However, this summit marked the first time Coal or fossil fuel It has been directly quoted in the COP agreement.

Countries also agreed on rules governing the 2015 Paris Climate Agreement, which aims to limit global temperature rises to well below 2 degrees Celsius since the pre-industrial era, ideally 1.5 degrees Celsius, and increase funding to help countries adapt to climate change.

During that time, the temperature has risen by 1.1 degrees Celsius, and many countries have suffered the consequences.

What do you think of the final agreement reached at COP26?Let us know [email protected]. Thank you for reading FirstFT Europe/Africa. — Jennifer

1. Britain’s £1 trillion export strategy after Brexit Ministers will announce a 1 ton per year The overseas sales target by 2030 is part of the British Prime Minister Boris Johnson’s strategic plan to reform the UK’s exports. The previous Conservative government failed to reach the same number by 2020.

2. Ukraine warns of Russian military escalation Western intelligence shows “The possibility of instability is high” According to the Deputy Minister of Defense of Kiev, Russia began its attack on Ukraine as early as this winter after Moscow had assembled more than 90,000 troops on its border.

Kiev estimates that Russia has deployed as many as 114,000 soldiers in northern, eastern and southern Ukraine

Kiev estimates that Russia has deployed as many as 114,000 soldiers to the north, east, and south of Ukraine © AFP via Getty Images

3. The EU plans to expand sanctions against Belarus theme Will strengthen sanctions The coalition’s senior diplomats stated that the ministers are prepared to step up their response to the so-called “mixed attacks” on the eastern border in Brussels to target those closest to the leader of Belarus against Alexander Lukashenko’s regime.

4. Portuguese The law prohibits employers from contacting employees during non-working hours The company will forbidden Employees must not be contacted outside of working hours, and additional energy and communication costs must be paid in accordance with one of the most suitable work-from-home laws in Europe.

5. More questions about NSO after being blacklisted NSO Group’s lenders are preparing Reorganization The U.S. Department of Commerce put the Israeli spyware company on the trade blacklist because it sold military-grade spyware to the government, which used these tools to carry out “transnational suppression” against journalists, activists, and embassy staff.

Coronavirus Digest

  • Expect movement restrictions to be more moderate Impact on growth inside I According to economists, compared with the previous wave, because they target the unvaccinated population, they only make up a small part of the population.

  • Austria Confirmed plan implementation Strict restrictions In the absence of vaccination, it takes effect today, and this Netherlands Another nationwide blockade is being implemented.

  • Oral antiviral drugs Expected reduce The burden of Covid-19 patients may be flooded this winter.

  • North Korea Seems to be preparing Partially reopened Its land boundary and China After nearly two years of coronavirus-driven quarantine.

  • Financial Times view: Border closure and blockade are simple put off The moment when Covid-19 became popular among the crowd while restricting freedom.

  • More than 1,000 FT readers-from London to Qatar-shared their opinions come back to the office. Read what they have to say.

the day before

British Prime Minister speaks at the city banquet Boris Johnson will give an annual speech at the mansion Nowadays, Addressing the newly appointed Mayor of London. A question in the minds of executives is: Is the future of the financial services industry to embrace the green movement or reform urban regulations, such as listing rules?

Xi Biden Virtual Conference US President Joe Biden and Chinese President Xi Jinping will Hold a discussion Amid concerns about Beijing’s military activities near Taiwan and its growing nuclear arsenal, it has stepped up its efforts to ease relations.

Governor of the Bank of England BBQ Andrew Bailey and other members of the Bank of England’s Monetary Policy Committee will give evidence To the Parliamentary Finance Committee. Members will wonder why the MPC did not vote to raise the benchmark interest rate in response to rising inflation in the UK, after the governor had previously hinted that action would be taken.

Economic data IHS Markit Purchasing Manager survey The economic conditions of Germany, France, Europe, the United Kingdom, the United States and China will better reflect the relative recovery of large economies. Eurostat will also release monthly merchandise trade data for the European Union.

What are we still reading

China’s nuclear construction In the past two decades, the country has shocked the United States with the ruthless speed of conventional military construction, from fighters and bombers to submarines and warships. As Beijing prepares to quadruple its warhead arsenal by 2030, will its growing nuclear posture change? Balance of power in Asia?

Life after the coup in Tunisia Once hailed as the success story of democracy in Arab countries, Tunisia may return dictatorship, Critics warned. Its chairman, Kais Saied (Kais Saied) is still very popular, but his divisive remarks may create an atmosphere of intimidation.

The oldest asset class still dominates modern wealth A study found that two-thirds of net assets are stored in Residential, corporate and government real estate, And on land. Rana Foroohar wrote that for all discussions of digitization, entities seem to be new entities.

Can bonuses reduce emissions? Executive salaries are getting higher and higher Linked to the Sustainable Development Goals, But critics doubt whether this will bring about meaningful changes. It raises questions about the purpose and effectiveness of monetary rewards in changing corporate behavior.

“Dad won’t come back”: Surviving my partner’s suicide “Fear and sadness, guilt, despair, anger, regret. Sometimes I feel them at the same time. But also ashamed. We talk about mental health more openly than ever, but we don’t talk so freely or sympathetically. Severe mental illness,” Manuela Zaragoza wrote.

© Charlotte Ager


This weekend at “Financial Times” Weekend Podcast, Lilah Raptopoulos and rock climber Leo Houlding explore the meaning of challenging death. We are also exploring radical life extension with science writer Anjana Ahuja.

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