According to a European source, an agreement was reached on the thorny issue of climate damage already suffered by poor countries at the climate conference (COP 27) in Sharm el-Sheikh, Egypt. This concerns the creation of a specific fund dedicated to these “losses and damages” which “directs” the financial means towards the most vulnerable countries.
An agreement was reached on Saturday on the issue of climate damage suffered by poor countries, one of the main sticking points in the difficult negotiations on the international climate conference (COP 27), according to a European source. “An agreement has been reached” on the creation of a specific fund dedicated to these “losses and damages” which “directs” the financial means to the most vulnerable countries, this source told AFP.
This announcement gives hope that this 27th international climate conference, which seemed on the verge of failure on Saturday morning, will be saved.
Keeping the 1.5 degree warming limit “alive”
“Rather no agreement than a bad agreement”, had launched the vice-president of the European Commission Frans Timmermans in front of the press. “We are concerned about some of the things we have seen and heard over the past 12 hours,” he said, adding that the Europeans’ aim was to keep the warming limit of 1 “alive”, 5°C, the most ambitious objective of the Paris agreement.
The Egyptian presidency, criticized for the slowness of the negotiations, ended up publishing a new, long-awaited draft final text at the start of the afternoon. This proposal has yet to be discussed by negotiators from nearly 200 countries gathered in Sharm el-Sheikh for talks that have already boiled over from a…
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