Stagnant on Emissions: COP27 Agree to Provide Climate Damage Impact Fund,

Stagnant on Emissions: COP27 Agree to Provide Climate Damage Impact Fund,

Stagnant on Emissions: COP27 Agree to Provide Climate Damage Impact Fund,

Brother Center | The Climate Summit (COP27) in Egypt resulted in an agreement to fund the countries most vulnerable to the impacts of climate change. Are you sure all countries comply?
Quoted from the UN website, the 27th Conference of the Parties to the UN Framework Convention on Climate Change (COP27), in the city of Sharm el-Sheikh, Egypt, Sunday (20/11), ended with a “historic decision to establish and operate a loss fund and damage (loss and damage fund).”

Welcoming the decision and calling the funds essential, UN Secretary-General António Guterres said that more needs to be done to drastically reduce emissions now.

Stagnant on Emissions: COP27 Agree to Provide Climate Damage Impact Fund,
Stagnant on Emissions: COP27 Agree to Provide Climate Damage Impact Fund,

“The world still needs a big leap forward in climate ambition,” he said, in a statement.

“The red line we must not cross is the line that takes our planet over the 1.5 degree temperature mark,” he stressed, urging the world not to give up “in the fight for climate justice and climate ambition.”

COP27 itself takes place from 6 to 20 November. Its contents, high-level and side meetings, important negotiations and press conferences, accommodated more than 100 Heads of State and Government, more than 35 thousand participants, and many pavilions featuring climate action around the world and in various sectors.

What is a loss and damage fund?

The agreement itself is contained in the Sharm el-Sheikh Implementation Plan part V on Adaptation and VI on Loss and damage.

“Urges Parties to adopt a transformational approach to enhance adaptive capacity, strengthen resilience, and reduce vulnerability to climate change,” reads paragraph 18 of the agreement in the Adaptation section.

“Also urges developed country parties to immediately and significantly increase the provision of climate finance, technology transfer, and capacity building for adaptation to respond to the needs of developing country parties as part of global efforts, including for the formulation and implementation of adaptation plans and adaptation communications,” continued the paragraph next.

Information from Working Groups II and III for the Sixth Assessment Report of the Intergovernmental Panel on Climate Change reveals the adverse effects of climate change in all regions.

Namely, economic devastation and non-economic losses, including forced displacement and impacts on cultural heritage, human mobility and the lives and livelihoods of local communities.

“Welcome the consideration, for the first time, of matters relating to funding arrangements responding to loss and damage related to the adverse effects of climate change, including a focus on addressing loss and damage, under the Conference of the Parties and the Conference of the Parties,” it said in a statement. paragraph 22.

“On matters relating to funding arrangements responding to loss and damage associated with the adverse effects of climate change,” the statement continued.

Beyond the agreement, the final COP27 statement included efforts to limit global warming to 1.5 degrees Celsius from pre-industrial levels, aka unchanged from the previous agreement in Glasgow.

In addition, the statement also covers renewable energy for the first time. At the same time, the participants reaffirmed the previous agreement to accelerate “the ongoing work towards reducing coal-fired power plants and eliminating inefficient fossil fuel subsidies”.

In fact, nothing new was made at COP27 in this regard. Matters related to the reduction of fossil fuels are only discussed normatively.

Launching AFP, Pakistan’s Climate Minister Sherry Rehman called the COP27 meeting “responding to the voices of the vulnerable”.

“We have been busy for 30 years and today in Sharm el Sheikh this journey has reached its first light,” he said.

Pakistan is one of the countries most vulnerable to the impacts of climate change. Extreme heat and flash floods have hit the country in recent years.

Quoting the official UNICEF website, around 33 million people, 16 million of whom are children, have been affected by the heavy rainy season in Pakistan. The rains caused floods and landslides that destroyed dams, homes, farmland and critical infrastructure such as roads, bridges and schools.

In addition, flooding also threatens the sanitation system and water supply in the country. As a result, residents have difficulty getting clean water to drink even though they have received UNICEF assistance.

The Alliance of Small Island States (AOSIS), which is made up of islands whose very existence is threatened by rising sea levels, said the deal was “historic”.

“The deal made at COP27 is a victory for our entire world,” said Molwyn Joseph, from Antigua and Barbuda, who is also the Chair of AOSIS.

“We’ve shown those who feel neglected that we hear you, we see you, and we give you the respect and care you deserve.”

Developed countries say different things.

Frans Timmermans, Vice President of the European Union, said he was “disappointed” and said that 80 countries had supported the agreement on emissions.

“What we have ahead of us… is not bringing enough additional effort on the part of the major emitters to increase and accelerate their reductions,” said Timmermans.

A French official called the deal “unacceptable” because it was not ambitious enough to reduce carbon emissions.

“The problem is that the Egyptian presidency is trying to push through a text that removes the obligation of countries to regularly strengthen their national targets to meet the 1.5C goal,” the French official said.

Britain’s Alok Sharma, who chaired COP26 in Glasgow, said the energy front had been “weakened, in the last minutes”.

German Foreign Minister Annalena Baerbock said she was frustrated that cutting emissions and phasing out fossil fuels “is being hindered by a number of major emitters and oil producers.”

Criticized by some delegates for the lack of transparency during the negotiations, Egyptian Foreign Minister Sameh Shoukry, chairman of COP27, said any wrong move was “certainly not intentional”, and that he was trying to avoid “backsliding” on the part of the parties.

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