SDG 13 | climate action
For the first time in three decades, developed countries agree to help the poorest economically due to the effects of climate
The Inshallah (God willing in Arabic) so repeated in recent days by the members of the COP27 presidency became a reality in the wee hours of the morning in Spain.). After more than thirty extra hours of negotiation, this Climate Summit goes down in history as the third longest and also for being the first to create a specific fund to alleviate the losses and damages caused by climate change.
A victory for “developing countries that are especially vulnerable to the adverse effects of climate change” (this is detailed in the text born at COP27) that will receive “financial resources to respond to the economic and non-economic losses of these effects” . With those words, the developed countries have given the go-ahead at 3:13 in the morning in Spain by responding to President Shoukry if there were objections with a loud ovation.
During the last days of negotiations in the Egyptian city, the European Union changed its position by supporting the creation of a new fund, but on the condition that China also pay. “If there is a new aid mechanism, it has to be with the 2022 rules, not 1992,” said Frans Timmermans, vice president of the European Commission. At the Rio de Janeiro Earth Summit, held in the early 1990s, it was established that the most polluting countries would pay for their emissions.
“This is how we hope our 30-year journey has finally paid off today,” Pakistani Climate Minister Sherry Rehman celebrated after learning of the decision. The United Nations Secretary General, Antonio Guterres, has also welcomed the decision, although he acknowledges that there is more work ahead: “Clearly this will not be enough, but it is a much-needed political signal to rebuild broken trust.”
However, and despite this historic step, the wording leaves the question of who will pay for the damages unanswered. The text mentions the World Bank, the International Monetary Fund (IMF) and the search for other forms of financing, so it does not exclusively bind any country. A mystery that will have to be resolved soon, since this new fund is expected to be ready next year.
Not pointing to oil
This is the great victory of a summit that leaves many doubts for the future. The final decision has been “a word-for-word copy of the Glasgow Pact”, several organizations present in Egypt point out.
On Saturday, the European Union and other countries criticized the lack of climate ambition that would lead to not meeting the objective of not exceeding 1.5 degrees of warming at this event. “Europe cannot be complicit in a result that puts climate security and the 1.5º objective at risk due to a lack of ambition,” explained Minister Ribera, who warned that they were going to press until the end for this to be included in the agreement.
After a break of more than 30 minutes requested by Switzerland to study the final text “because we have not had time”, President Shoukry resumed the session to approve the mitigation proposal that forgets India’s request, supported by the European Union, to do away with fossil fuels.
As science indicates, the current rate of emissions would raise the planet’s temperature by 2.8 degrees, well above what is recommended by experts and what was agreed in the Paris Agreement of COP21 in 2015. «Next year It is time to review the emission plans of the countries, ”Ecologistas en Acción pointed out to this newspaper this week.
Finally, the Egyptian presidency has tiptoed through mitigation, moving the points from Glasgow to Sharm el-Sheikh with some “vagueness.” “We urge parties to accelerate efforts towards phasing out inefficient fossil fuel subsidies,” the approved statement read. It has been clearer in maintaining the temperature of 1.5 degrees reaffirmed in the Glasgow Pact.
Criticism of the presidency
With an exhausted and slow voice, Shoukry in his speech showed his fatigue and sought the help of the rest of the delegates who were waiting after several minutes of delay sitting in the plenary chairs. “I implore you to adopt the draft decisions that I will present to you,” requested the president of COP27.
President of COP27. /
After a marathon day of distant positions and messages of pessimism, the last plenary session began with tired faces and an apology: “I apologize for any false step,” Shoukry said at the beginning of his speech.
Some thirty-three hours later, the delegates of the almost 200 parties denounced the lack of transparency and the improvisation of the Egyptian presidency. After postponing the final plenary on several occasions, silence took hold in the early morning hours of the coastal city. Several delegations did not get to see the final text before Shoukry gave the first blow to start the session.
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