Speaking ahead of the COP26 conference, Alok Sharma- COP26 President-designate emphasizes the importance of ending international coal financing. “The days of coal providing the cheapest form of power are in the past, and in the past, they must remain,” Sharma says in a wide-ranging speech delivered on Friday.
He will urge nations to come forward and abandon the coal power generation, with powerful and rich countries leading the way, as the wealthy nations can help the underdeveloped countries to make the same change.
Mr. Sharma is ready to bring together climate negotiators from 19 countries at this year’s COP26 where the EU, businesses, organizations, experts and world leaders will be present. The UK lawmaker – Mr. Sharma has mentioned in his preparing speech, “I have faith that world leaders will rise to the occasion and not be found wanting in their tryst with destiny.”
“The reality is, renewables are cheaper than coal across the majority of countries. The coal business is, as the UN Secretary General has said, going up in smoke. It’s old technology.”
“So, let’s make COP26 the moment we leave it in the past where it belongs, whilst of course supporting workers and communities to make the transition, by creating good green jobs to fill the gap”, Mr. Sharma stated in his remarks on Friday.
The UK is already far behind to lessen the emissions from its housing stock, and are planning a 27 bn Euros that will help to curb the emissions.