Closing the curtain on COP27, reaching an agreement to develop the “Loss and Damage” fund Fragile Country

There is good news and bad news for the world. From the latest UN climate talks, COP27.

Finally, the 27th Conference of the Parties to the United Nations Convention on Climate Change (COP27) in Egypt. reached an agreement on a long-standing issue that has not been resolved That pays for the damage from climate change.

The United Nations climate talks closed early on the morning of Sunday 20 November in Sharm El Sheikh. Egypt passed the deadline on Friday But it finally reached an agreement on the biggest outstanding issues.

COP27 ends with an agreement to establish a fund to compensate less wealthy countries experiencing devastation due to rising average temperatures. The meeting also guarantees an additional commitment to reduce methane pollution and new desperate calls to stop global warming beyond 1.5 degrees Celsius (2.7 degrees Fahrenheit), one of the goals of the 2015 Paris climate agreement

“We have dedicated all our efforts here at COP27 to bring about the climate change commitments that our vulnerable people desperately need.” Molvin Joseph, president of the Alliance of Small Island States, a group representing 39 island countries, spoke at the meeting. “Today, the international community has restored global faith in this important process. dedicated to ensuring that no one is left behind.”

But the agreement, known as the Sharm el-Sheikh Action Plan, is just short language. for limiting the causes of climate change which burn fossil fuels. And key details of how countries are expected to meet those obligations have yet to be worked out.

More than 35,000 people from every country in the world gathered at this two-week conference to take small steps. this on But it was an uphill battle. And the challenge remains in implementing all the promises.

As global greenhouse gas emissions continue to rise, global temperatures continue to rise. And the window to monitor global warming is almost closing. “The world is narrowing the greenhouse gas emission curve. But these efforts are still not enough to limit global temperature rise to 1.5°C,” UN Climate Change Executive Secretary Simon Stiell told participants. Once again, the COP climate negotiation process has failed to bring the world in line with this goal. But the promises that have been made so far have closed the gap further than ever.

Although the agenda is narrower than the agenda of previous climate meetings, But this year’s discussions were particularly full of obstacles. Russia’s invasion of Ukraine is driving up energy prices around the world. This has fueled hyperinflation and stimulated a willingness to invest more in tackling climate change Some countries, such as Germany, have increased their use of fossil fuels this year.

Although the meeting is going ahead Major players are also experiencing major political upheaval at home. Mid-term elections in the United States, the second largest emitter of greenhouse gases in the world, led to a split in the legislature This increases the potential for climate legislation, Brazilian President-elect Luiz Inacio Lula da Silva Received a hero’s welcome in COP27 after the defeat of Jair Bolsonaro, who led massive deforestation in the Amazon rainforest. Then on Friday, US Weather Representative John Kerry tested positive for COVID-19

Delegates also strongly criticized host country Egypt for continuing to detain political prisoner Alaa Abd el-Fattah. who was protesting hunger during the meeting He ended Thursday’s protests after collapsing. But still in prison
with other problems Many are directly and indirectly on the table. That’s incredible for climate change. Along the way, participants signed a small agreement to end deforestation and invest in clean energy. The wealthy country has also negotiated a $20 billion deal to help Indonesia transition to cleaner energy.

But in general, few countries have committed to increasing their efforts to curb greenhouse gases. And those promises became more and more separate from their actions. As global emissions remain at record levels

COP27 is finally settling on the tricky issue of climate change compensation. but rather weak and vague

Compared to previous climate conferences, COP27, it is unusual that most of the discussions revolved around one central theme: how to compensate for the loss and damage caused by climate change. It was a major problem that stalled the previous meeting and remained unresolved for years.

Rich countries burn the most fossil fuels and produce most of the greenhouse gases that are warming the planet today. But the damage from global warming, such as heat waves and sea level rise, This directly affects poor countries that contribute a little to the problem. The United States has the highest percentage of greenhouse gas emissions on record.

At COP27, more than 190 countries have agreed to establish a loss and damage fund. It builds on a previous proposal known as the Warsaw International Mechanism.

“This represents a significant development in the fight against the global climate crisis.” The Executive Director of the United Nations Development Programme, Achim Steiner, said in a statement.

However, the language is still vague. There was no advice on how much money the fund needed, who had to pay it, and who was entitled to compensation. Rich countries have failed to fulfill commitments to give $100 billion a year to developing countries for climate-related projects. These are controversial questions. And the debate must continue at the next COP.

refer
https://www.vox.com/science-and-health/23464353/cop27-egypt-outcome-climate-change-agreement-result-loss-damage

https://unfccc.int/news/cop27-reaches-breakthrough-agreement-on-new-loss-and-damage-fund-for-vulnerable-countries#:~:text=UN%20Climate%20Change%20News%2C % 2020, UN% 20 Climate% 20 Change% 20 Executive% 20 Secretary