After two weeks of inauspicious negotiations, COP27 lastly got here to a detailed on 20 November in Sharm el-Sheikh. The overdue ultimate settlement, which was signed by the representatives of almost 200 international locations, is a historic step ahead with regard to the query about loss and damages.
The negotiations have been centred across the financing of such a fund by wealthier international locations to compensate for the “loss and damages” suffered by poorer international locations as the largest victims of local weather change. The institution of a fund in favour of poorer international locations, which might be financed by rich international locations and applied by 2023, was extensively welcomed.
Nonetheless, a COP will not be a COP with no little bit of disappointment. The settlement was criticised for not being formidable sufficient with regard to the abandonment of fossil fuels. Others bemoaned the shortage of cooperation from huge polluting international locations, Egypt’s behaviour in the course of the two-week convention, in addition to the shortage of participation allowed from civil society.
Examine our investigation on the greenwashing of Michelin’s inexperienced bonds: First half. Second half. Third half.
Obtain the very best of European journalism straight to your inbox each Thursday
Was this text helpful? If that’s the case we’re delighted! It’s freely accessible as a result of we consider that the precise to free and impartial data is crucial for democracy. However this proper will not be assured without end, and independence comes at a price. We’d like your assist in an effort to proceed publishing impartial, multilingual information for all Europeans. Uncover our membership provides and their unique advantages and turn out to be a member of our neighborhood now!