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COP26 DEALS AIM TO LIMIT COAL, OIL AND NATURAL-GAS DEVELOPMENT


AS GOVERNMENTS PUSH FOR A U.N. DEAL TO CUT EMISSIONS, SOME HAVE SOUGHT OUT
LIKE-MINDED PARTNERS FOR SMALLER AGREEMENTS

How Much Would It Cost to Reduce Global Warming? $131 Trillion Is One Answer
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How Much Would It Cost to Reduce Global Warming? $131 Trillion Is One Answer

Money is a sticking point in climate-change negotiations around the world. As
economists warn that limiting global warming to 1.5 degrees Celsius will cost
many more trillions than anticipated, WSJ looks at how the funds could be spent,
and who would pay. Illustration: Preston Jessee/WSJ
By
Sarah McFarlane
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SARAH MCFARLANE

 * Biography
 * @sarah_mcfarlane
 * sarah.mcfarlane@wsj.com

and
Sha Hua
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SHA HUA

 * Biography
 * @shashamimi
 * sha.hua@wsj.com

Nov. 4, 2021 9:20 am ET

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GLASGOW—Dozens of countries agreed to stop funding new coal-fired power plants,
a deal that brings some previous holdouts like Poland and Vietnam aboard a
growing coalition of countries vowing to wean their economies off the fossil
fuel.

Separately, a group including the U.S., the U.K. and Canada pledged to end
public funding of overseas oil and gas developments. Proponents called the two
deals, struck at the COP26 United Nations climate summit, significant moves in
building a consensus among governments toward ending new fossil fuel
investments. Critics said the limited number of countries signing onto both
deals could blunt their effectiveness on a global scale.

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