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“It’s one minute to midnight and we need to act now,” the UK’s Prime Minister Boris Johnson will declare on Monday as he seeks to stir world leaders into dramatic action at urgent UN climate talks.

At the COP26 opening ceremony, the prime minister will say humanity has “long since run down the clock on climate change”, warning that if we don’t get serious today, “it will be too late for our children to do so tomorrow”.

Mr Johnson will call for action from the audience of more than 120 world leaders on “coal, cars, cash and trees” – his signature shorthand for four priority areas for COP26. They roughly translate to phasing out coal, accelerating the transition to electric vehicles and ending deforestation, as well as stumping up climate finance to help developing nations on the frontline of the climate crisis.

The prime minister will use his speech in Glasgow to announce a further £1bn of UK aid for climate finance over a five years, bringing the total to a “world-leading” £12.6bn by 2025 – subject to the economy growing as forecast.

Environmentalists welcomed the new funding for climate finance, a longstanding thorny issue in negotiations, but said the figure was overshadowed by earlier UK cuts to foreign aid.

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Tom Burke, chairman and co-founder of think tank E3G, said: “this looks much more like managing today’s headlines than managing the climate crisis.”

Richard Black, senior associate at ECIU, said the proviso on economic growth may “strike the poorest countries on Earth as deeply ironic” given they need climate finance precisely because their own economies are suffering from climate change impacts driven by emissions from developed countries.

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If COP26 fails ‘then the whole thing fails’

He also said that France, Germany and Japan are already providing greater sums than the UK, “and this relatively small increase won’t change that”.

Last week a report revealed that developed countries would not mobilise the $100bn goal for public and private finance until 2023.

World leaders will also today hear from Prince Charles, who will call for a “war-like footing” to tackle the climate crisis, and Sir David Attenborough, who has described these talks as the last chance to prevent “runaway” global warming.

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Leaders will then throughout Monday and Tuesday deliver statements on their own climate action. These announcements will provide the fuel to see through the rest of the talks over the next two weeks, as negotiators and ministers seek side deals on things like phasing out coal or financing adaptation, which means helping poor countries with the infrastructure to cope with the impacts of global heating.

It is expected that we will hear statements from US President Joe Biden, Charles Michel, president of the European Council, Ursula von der Leyen, president of the European Commission, Indonesian President Joko Widodo, French President Emmanuel Macron and Turkey’s President Recep Tayyip Erdoğan, among many others.

Momentum going into the talks was modestly boosted by the G20 meeting over the weekend, where 20 major economies agreed to end international coal finance this year, following similar commitments by G7, South Korea, Japan, China, and OECD.

There was also a new stronger consensus about the need to limit warming to 1.5C rather than a previous upper limit of 2C.

Science has recently become even clearer that we will still experience extreme weather and human suffering even at 1.5C and that we should therefore keep warming as low as possible and under the lower limit. The world is currently on track for 2.2-2.7C of warming.

However the G20 was less clear on how they would phase out fossil fuel subsidies and domestic coal use, or how they would mobilise climate finance.

Alex Scott, E3G’s climate diplomacy lead, called the agreement on 1.5C “significant”, saying it gives a “clear sense of direction” for COP26. But she said they hardly made it “crystal clear” how these promises would be put into practice, making it difficult for COP negotiators come up with the answers.

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What will be discussed at COP26?

For full coverage of COP26 watch Climate Live on Sky channel 525.

Follow live coverage on web and app with our dedicated live blog.

Get all the latest stories, special reports and in depth analysis at skynews.com/cop26

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Roman Storm asks DeFi devs: Can you be sure DOJ won’t charge you?

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<div>Roman Storm asks DeFi devs: Can you be sure DOJ won't charge you?</div>

<div>Roman Storm asks DeFi devs: Can you be sure DOJ won't charge you?</div>

Current laws in the United States do not explicitly protect open source software developers and create the risk of retroactive prosecution.

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Stablecoins are really ‘central business digital currencies’ — VC

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<div>Stablecoins are really 'central business digital currencies' — VC</div>

<div>Stablecoins are really 'central business digital currencies' — VC</div>

Jeremy Kranz, founder of Sentinel Global, a venture capital firm, said investors should be “discerning” and read the fine print on any stablecoin.

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Labour deputy leadership candidate accuses opponent’s team of ‘throwing mud’ and briefing against her

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Labour deputy leadership candidate accuses opponent's team of 'throwing mud' and briefing against her

Lucy Powell has accused Bridget Phillipson’s team of “throwing mud” and briefing against her in the Labour deputy leadership race in a special episode of Sky’s Electoral Dysfunction podcast.

With just days to go until the race is decided, Sky News’ political editor Beth Rigby spoke to the two leadership rivals about allegations of leaks, questions of party unity and their political vision.

Ms Powell told Electoral Dysfunction that through the course of the contest, she had “never leaked or briefed”.

But she said of negative stories about her in the media: “I think some of these things have also come from my opponent’s team as well. And I think they need calling out.

“We are two strong women standing in this contest. We’ve both got different things to bring to the job. I’m not going to get into the business of smearing and briefing against Bridget.

“Having us airing our dirty washing, throwing mud – both in this campaign or indeed after this if I get elected as deputy leader – that is not the game that I’m in.”

Ms Powell was responding to a “Labour source” who told the New Statesman last week: “Lucy was sacked from cabinet because she couldn’t be trusted not to brief or leak.”

Ms Powell said she had spoken directly to Ms Phillipson about allegations of briefings “a little bit”.

Bridget Phillipson (l) and Lucy Powell (r) spoke to Sky News' Beth Rigby in a special Electoral Dysfunction double-header. Pics: Reuters
Image:
Bridget Phillipson (l) and Lucy Powell (r) spoke to Sky News’ Beth Rigby in a special Electoral Dysfunction double-header. Pics: Reuters

Phillipson denies leaks

But asked separately if her team had briefed against Ms Powell, Ms Phillipson told Rigby: “Not to my knowledge.”

And Ms Phillipson said she had not spoken “directly” to her opponent about the claims of negative briefings, despite Ms Powell saying the pair had talked about it.

“I don’t know if there’s been any discussion between the teams,” she added.

On the race itself, the education secretary said it would be “destabilising” if Ms Powell is elected, as she is no longer in the cabinet.

“I think there is a risk that comes of airing too much disagreement in public at a time when we need to focus on taking the fight to our opponents.

“I know Lucy would reject that, but I think that is for me a key choice that members are facing.”

She added: “It’s about the principle of having that rule outside of government that risks being the problem. I think I’ll be able to get more done in government.”

👉 Click here to listen to Electoral Dysfunction on your podcast app 👈

Insider vs outsider

But Ms Powell, who was recently sacked by Sir Keir Starmer as leader of the Commons, said she could “provide a stronger, more independent voice”.

“The party is withering on the vine at the same time, and people have got big jobs in government to do.

“Politics is moving really, really fast. Government is very, very slow. And I think having a full-time political deputy leader right now is the political injection we need.”

The result of the contest will be announced on Saturday 25 October.

The deputy leader has the potential to be a powerful and influential figure as the link between members and the parliamentary Labour Party, and will have a key role in election campaigns. They can’t be sacked by Sir Keir as they have their own mandate.

The contest was triggered by the resignation of Angela Rayner following a row over her tax affairs. She was also the deputy prime minister but this position was filled by David Lammy in a wider cabinet reshuffle.

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