The United Nations climate conference (COP27), with negotiations stalled on issues such as financing for poor countries, will last until Saturdayannounced this Friday the Egyptian president of the event, Sameh Choukri.
“I am determined to finish this conference tomorrow,” Sameh Choukri said on Saturday, calling on the parties to “speed up” the negotiations, initially scheduled to end on this day.
“I remain concerned about the number of unresolved issues, namely on financing, mitigation, loss and damage and their links,” said the official, who is also Egypt’s foreign minister.
And he added: “I call on the parties to work together to resolve these remaining issues as soon as possible????????
On one of the most important topics of the conference, the financing of “loss and damagethat poor countries already suffer, most of the time very little responsible for global warming, but very exposed to its impacts, seems to have been an evolution since Thursday night.
The European Union made a proposal, accepting the principle of creating a “damage response fund“, subject to conditions and the reaffirmation of strong objectives in terms of reducing emissions and limiting global warming.
A motion for a damages resolution tabled late Thursday by the “facilitators” on the dossier also presented an option on deciding in principle on a specific fund, a requirement for developing countries.
Pakistan’s Climate Change Minister Sherry Rehman, current chair of the powerful G77+China negotiating group, said on Friday that this option was acceptable, “with some changes????????
The annual UN climate conference aims to increase pledges from nearly 200 participating countries to reduce the emission of greenhouse gases and limit global warming, which causes climate change.
This year disasters related to climate change have increased, from droughts to floods, and given this scenario, the countries of the global South, highly exposed to climate impacts, called for an agreement at COP27 to create a fund to cover “ loss and damage.”
Developed countries, reluctant to put this issue on the agenda, insisted in an additional discussion periodbefore taking a decision.
At the end of the day on Thursday, the European Union presented the proposal to establish this fund, but insisted that COP27 should, in return, assume strong commitments regarding emission reductions.
This morning, the Egyptian presidency of the conference released a new proposal for the final text of the meeting, which continues to reaffirm the determination of prevent the temperature from rising above 1.5°C (degrees Celsius) relative to pre-industrial times, a goal set out in the Paris Climate Agreement in 2015.
However, several countries’ current greenhouse gas reduction commitments are far from meeting the target and, according to UN analysis, will at best limit warming to 2.4°C by the end of the century. __.
COP27 started on the 6th of last month and was supposed to end on this day.
Source: Observadora
