Climate change: Money on the agenda at Milan talks
This video can not be played Greta Thunberg mocked the ''empty words and promises'' of world leaders as "blah, blah, blah" With the jeers of Greta Thunberg ringing in their ears, climate ministers are holding final talks before a key UN conference in Glasgow. The Swedish activist criticised the efforts of politicians to tackle climate change as "30 years of blah, blah, blah". But despite the mockery, ministers say some progress is being made on a range of issues. The meeting in Italy's financial capital Milan lasts until Saturday. Earlier this week Greta Thunberg lambasted the efforts of political leaders at a youth climate summit. She was one of 400 young people who came to Milan to formulate a response to rising temperatures that will be presented to ministers here on Thursday. Ms Thunberg will also meet Italy's prime minister Mario Draghi. Officials believe that despite the criticism about the slow pace of progress, the wheels are beginning to move on a number of fronts. Last week at the UN General Assembly, announcements from China and the US on coal and climate finance, helped improve the prospects for the upcoming UN conference, known as COP26. Negotiators meeting at this "pre-COP" event are under pressure to clear the way for their bosses, the world's presidents and prime ministers who will meet in Glasgow at the start of COP26 in early November. One of the big issues holding up progress is the question of money. Despite significant new promises, the wealthy nations are still around $20bn short of the long-promised $100bn a year that's meant to help poorer countries cope with rising temperatures. "Isn't it ridiculous, that in the midst of a trillion dollar emergency response economy that we're seeing right now, we are haggling over a $20bn price tag to essentially unleash hundreds of billions of dollars, if not trillions of dollars of developing country investments," said the head of UNDP Achim Steiner. Mr Steiner is a senior leader in the UN and has been a close observer of the climate talks process for many years. "Time is running out, and we can't find a way in which we can finance this? It's just not acceptable," he told BBC News. While ministers will look to make progress on cash and other outstanding questions in their discussions here over the next few days, they will be heartened by new research showing that the 1.5C temperature threshold can be kept in sight at a relatively low cost over the next decade. The report comes from the Energy Transitions Commission , a group made up of leaders from the energy industry, finance and climate advocacy. They outline six actions that could be taken by companies and countries which would go beyond the carbon cutting plans and would limit warming to 1.5C. The key steps include: "The 1.5C threshold is absolutely technologically possible at costs which the global economy could easily absorb," said Adair Turner, the chair of the Energy Transitions Commission. "We broadly know the categories of what is possible. We have provided, we think, a robust quantification of what's possible. And there are specific initiatives which could be taken in addition to country's carbon cutting plans, which would get us there." "And we need them because we're running out of time." Follow Matt on Twitter @mattmcgrathbbc . What was agreed at COP26? Race against time to save Morocco quake survivors US denies Cold War with China in historic Vietnam visit How Russia and West agreed on Ukraine G20 language How Russia and West agreed on Ukraine G20 language US denies Cold War with China in historic Vietnam visit 'Everyone in this village is either dead or missing' At the scene of Morocco mosque collapsed by quake. Video At the scene of Morocco mosque collapsed by quake Inside the horror of Europe's biggest wildfire Inside a 'hijacked' South African building. Video Inside a 'hijacked' South African building How chronic pain feels for me. Video How chronic pain feels for me The rise and fall of a parenting influencer Guyana scrambles to make the most of oil wealth Florida's first hurricane-proof town The greatest spy novel ever written? Why is everyone crazy about Aperol? 2023 BBC.