The launch of a fund to repair climate damage is on hold
The European Union This Friday it said it was ready to commit Financing climate change damages and losses in vulnerable countriesOne of the unresolved issues at the XXVII UN Climate Change Conference of the Parties (COP27), which will end on Friday afternoon in Sharm-el-Sheikh (Egypt) after almost two weeks of negotiations but will continue until this Saturday. .
That, compensation for damages caused by climate change, is precisely one of them thorny issues This year, UN-led parties are at the center of discussions to tackle climate change in Egypt. This is the first time that country representatives at the conference have agreed to include an issue known as ‘loss and damage’ on the climate agenda. Developing countries have long tried to produce A Financial system where countries are supported Caused by developed countries and suffering from climate change.
However, the creation of a financial fund for climate damage Not a preferred choice for twenty-sevenBut this Friday, the European Commission’s Vice President for the Green Deal, France Timmermans announced its “latest offer” in which it accepts international funding for global warming that reflects the economic reality of 2022, along with greater ambitions to reduce emissions by other players such as China, today’s biggest emitter.
“Mitigation, adaptation, and loss and damage go hand in hand“, Timmermans defended to the media in Sharm-el-Sheikh. Another issue that caused a split at the summit was the use of fossil fuels. Russia’s invasion of Ukraine has increased energy prices, so many countries are rethinking their energy policies and Reactivate its coal plant. There have been several calls for an end to fossil fuel use at the conference, highlighting geopolitical tensions, as well as several global food and energy crises, according to DPA.
The NGOs Seeing the loss and damage fund hanging by a thread they are fighting till the last minute of negotiations and Describe COP27’s general progress as “slow”.– Friends of the Earth once again accused the United States of playing a “deeply obstructive” role as it believes it has “at times” obstructed the demands of developing countries.
Thus, it is regrettable that tribals and communities on the front lines are already suffering. Increasing extreme weather eventswhich causes enormous economic losses and cultural degradation, and see how developing countries are struggling to establish funds to compensate for these irreversible losses and damages.
The NGO said in its analysis that rich countries themselves “Defenders of A threshold of 1.5ºCBlaming large developing countries like China or India for their “decades of inaction, neglect of their historical responsibility, continued climate pollution and reluctance to even compromise” on an agreement on the 1.5°C threshold. ,” is something that climate justice activists and developing countries have been calling for for years.
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