Sticking points slow deal-making at COP27 climate talks

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UPDATED. The G77 bloc of developing countries and China are proposing a 'loss and damage' fund should be created to provide money to countries already hit by climate disasters, a draft text of their proposal to the COP27 summit shows.

SHARM EL-SHEIKH, Egypt – Government ministers and negotiators from nearly 200 countries on Tuesday, November 15, began the slog offor a deal at the annual UN climate summit, as host country Egypt assured that the slow-moving talks were on track.

“The future of humanity, without exaggeration, is at stake,” he said. “So we can just push and encourage and use all the tools in our toolbox. But at the end of the day, 190-something sovereigns must agree.” It mentioned the urgency of action to keep within reach the goal of limiting temperature rises to 1.5 Celsius above preindustrial levels to avoid the worst impacts of climate change. Temperatures have already increased by 1.1C.

“It’s all boiling down to the last days,” EU environment policy chief Virginijus Sinkevicius said on the sidelines of the summit. “It seems like still we are quite far from what we would love to have as an outcome.” The European Union supports the idea, the bloc’s climate policy chief Frans Timmermans said on Tuesday, but only if it does not weaken previous agreements on reducing the use of coal.Big oil and gas producers were not keen.

 

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