At the World Climate Summit (COP27) in Sharm el-Sheikh, Egypt early Sunday morning at the COP27 climate summit, participating countries adopted a hard-won final agreement establishing a fund to help poor countries hit by climate-related disasters. However, efforts to combat the emissions they cause have not increased.
In their closing statement, the 200 or so states also reaffirmed their earlier decision to phase out coal. A farewell to oil and gas is not mentioned. The declaration thus falls short of the demands of numerous states, climate activists and environmentalists.
“It wasn’t easy. We worked around the clock,” said COP chair Sameh Shoukry at the end of the conference on Sunday morning. , but “in the end we made it,” said Shoukry.The agreement on a new pot of money for the consequences of climate damage in poorer countries gives hope to millions of people affected around the world.
Conference extended by over 36 hours
The new compensation fund should deal with the inevitable consequences of global warming, such as increasingly frequent droughts, floods and storms, but also rising sea levels and desertification. The issue was the main point of contention at the two-week conference in Sharm el-Sheikh, which was extended by more than 36 hours.
The decision does not specify amounts for the new fund or who exactly should pay. This will be clarified later. Developing countries that are particularly at risk are given preference. The EU in particular had insisted on this restriction.
The final declaration also asks states to improve their largely inadequate climate protection plans by the next climate conference. It will take place in the United Arab Emirates at the end of 2023. The improvements remain voluntary, there is no obligation.
Sometimes chaotic processes in negotiations
The conference, for which some 34,000 participants traveled to the Red Sea, worked overtime on Friday evening. On the night of Saturday, after slow and sometimes chaotic processes, unrest broke out in negotiating circles. After heavy deliberation, the breakthrough finally followed early Sunday morning.
The US initially blocked the new compensation fund, while the group of more than 130 developing countries known as the G77 stepped up the pressure along with China. After initial reluctance, the European Union eventually changed its mind.
UN Secretary-General António Guterres called the new climate damage fund an important step towards justice. “That is certainly not enough, but it is an urgently needed signal to rebuild the lost confidence.”
China sees itself as a developing country
One of the controversial aspects of the issue is China’s role. The country, which ranks first in terms of climate-damaging emissions, wants to continue to be treated as a developing country in terms of international climate protection. This was laid down in the Kyoto Protocol 30 years ago.
Western countries no longer want to designate the country as a recipient country because of its economic power and role as the largest emitter of greenhouse gases. China’s negotiator Xie Zhenhua said developing countries should get the money, but prioritized “vulnerable states”.
The environmental protection organization Greenpeace reacted with mixed feelings to the climate conference in Sharm el-Sheikh: “With the current result, the road to climate hell is inevitable, because an end to oil and gas is not yet in sight. However, with that comes the 1.5 degree target. also far away. Nevertheless, one success can be achieved: a financial pot for climate-related damages and losses could be identified,” it said in a broadcast.
A review by the Alliance for Climate Justice reached a similar conclusion. “Instead of aimless processes, we need ambitious measures on emission reductions, adaptation guidelines, gender equality and climate finance,” it said in a broadcast.
Source: Krone

I am Wallace Jones, an experienced journalist. I specialize in writing for the world section of Today Times Live. With over a decade of experience, I have developed an eye for detail when it comes to reporting on local and global stories. My passion lies in uncovering the truth through my investigative skills and creating thought-provoking content that resonates with readers worldwide.