Sunday, November 20, 2022

"New global climate deal struck at conference in Egypt"

  • The two-week-long COP27 climate summit took place in Egypt’s Red Sea resort town of Sharm el-Sheikh against a backdrop of increasing extreme weather events, geopolitical conflicts and a deepening energy crisis.
  • Delegates at the world’s biggest climate-related conference struggled to build consensus on an array of issues.
  • A flurry of U.N. reports published ahead of the summit made clear just how close the planet is to irreversible climate breakdown.
Government ministers and negotiators from nearly 200 countries finally secured an agreement Sunday aimed at keeping a critically important global heating target alive.

The new political deal reaffirms efforts to limit global temperature rise to the crucial temperature threshold of 1.5 degrees Celsius above pre-industrial levels and the creation of a new “loss and damage” fund that would compensate poor nations that are victims of extreme weather worsened by climate change....
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...The highly divisive and emotive issue of loss and damage dominated the U.N.-brokered talks and many felt the success of the conference hinged on getting wealthy countries to agree to establish a new fund.

The summit made history as the first to see the topic of loss and damage funding formally make it onto the COP27 agenda. The issue was first raised by climate-vulnerable countries 30 years ago.....
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