COP27 Ends with Historic Loss & Damage Fund

Status Quo on Emissions Reductions, but COP27 Ends with Historic Loss & Damage Fund

The Sharm el-Sheikh negotiations (finally) came to an end on Sunday morning local time. The COP27 delegates welcomed the establishment of a loss and damage fund but expressed concern that not enough had been done to reduce pollution and the use of fossil fuels, which are already having devastating effects on the global climate.

A united front of developing countries culminated a 30-year battle two weeks ago by putting loss and damage on the official agenda and obtaining the first-ever promise from industrialized nations to pay for the harm their climate pollution has caused.

According to Mohammed Adow of Power Shift Africa, “COP27 has done what no other COP has achieved — created a loss and damage fund to support the most afflicted populations of climate change.” The Paris goals were kept alive, at least on paper, by the final agreement’s inclusion of a clause limiting global temperature increase to 1.5 C (2.7 F).

It disappointed an unprecedented number of countries, including the U.S., who had called for final language expressing the need to phase out all unabated fossil fuels. It did not call for a reduction of all fossil fuels, keeping language from COP26 in its place.

When questioned about if more significant emissions cuts had been reserved in order to obtain the final accord taking into account loss and damage, Probably, said Camila Zepeda, Mexico’s lead climate negotiator to Reuters. When you can, you take the victory.

According to The Washington Post:

The ambiguous agreement, which was reached after a year of unprecedented climate disasters and weeks of tense negotiations in Egypt, emphasizes how difficult it is to get global agreement on swift climate action when so many influential countries and organizations are still committed to the current energy system.

COP27 Ends with Historic Loss & Damage Fund

According to Rob Jackson, a climate scientist at Stanford University and director of the Global Carbon Project, the globe will inevitably exceed the level of heat that is deemed safe. How much and how many individuals will suffer as a result are the only open questions.

Read More: Perhaps Foldable “casitas” Could Aid in The Reduction of Emissions from The Construction Industry!

To Delve Farther Further:

The following news organizations: Reuters, AP, The Washington Post, Axios, Bloomberg, Politico, and E&E News, The Guardian, The New York Times, Bloomberg, The Wall Street Journal, The Wall Street Journal, CNN, The New York Times, and FT.

COP27 Ends with Historic Loss & Damage Fund

You may subscribe to daily Hot News, follow Climate Nexus on Twitter and Facebook, and visit their news website, Nexus Media News, for additional information on climate change and clean energy.