Representatives of nearly 200 countries traveled to Sharm El-Sheikh with commitments that together will lead to a global temperature rise of about 2.4 degrees by the end of the century. It is well above the goals of the Paris Agreement – which are supposed to protect the world from the most devastating consequences of climate change. Floods, droughts and heat waves are already beginning to speak of what awaits a warming planet.
It was COP27’s ambition to turn words into action in climate action. If global temperature rise is to be limited to 1.5 degrees, greenhouse gas emissions must be halved by 2030. But the curves continue to point upward.
“Pretty no deal.”
The EU is now expressing concern that the proposals on the table will lower ambitions in terms of emissions cuts.
There is no better deal than a bad deal, says the EU’s climate chief France Timmermans At a press conference in Sharm El-Sheikh.
The issue of climate damage dominated the UN meeting. And he is so infected that he has caused the conference to go into overtime. The idea was that COP27 would end on Friday, but tough negotiations kept dragging on.
The most vulnerable countries want help dealing with the damage and loss caused by climate change already now. Wealthier countries have long avoided the issue for fear of being held responsible for their historic emissions, and merely agreeing to put the issue on the official agenda of COP 27 is seen as a breakthrough.
Some developing countries require a special climate damage fund, while the European Union and the United States, for example, have called on existing channels of subsidies. However, the position of the European Union has softened, but there is still disagreement about who should pay and which countries should receive support.
The European Union has put forward a proposal for a new fund, as part of a larger agreement where, among other things, they want to see increased ambitions in terms of emissions cuts.
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