This Saturday (19), negotiations were intense (and tense) in COP27.
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“Ready to leave”
The executive vice-president of the European Commission, Frans Timmermans, said this Saturday (19) that the bloc is “prepared to leave” if there is no progress in keeping alive the goal of limiting the global warming at 1,5ºC by the end of the century.
Timmermans said there were concerns about an even more controversial topic: the creation of a fund to cover losses and damages.
“We are worried,” he said, at a press conference with European Union (EU) ministers. “The EU would rather have no decision than a bad decision.”
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According to the news agency Associated Press, Spain's Environment Minister, Teresa Ribera, stated that the country could leave negotiations if a “fair” agreement is not reached. “We can go out, for sure,” she said. “We will not be part of an outcome that we consider unfair and not effective in addressing the problem we are dealing with, which is climate change and the need to reduce emissions.”
The Egyptian presidency of COP27 received increasing criticism for the way he had conducted the negotiations. In view of this, Sameh Shoukry, the president of COP27, stated that the final text must keep the prome1,5ºC.
USA takes a stand
The United States (US) has agreed to the creation of a fund to compensate poor and developing countries for climate damage, reversing decades of opposition.
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The change was confirmed by a Biden administration official and means that the country will no longer block the “loss and damage” fund (The New York Times*).
Another draft
A new draft agreement was released this Saturday (19) in COP27.
Most importantly, there is a potential call to change the global financial system and a proposal for a loss and damage fund for developing countries, preferably the most vulnerable. On the other hand, the text does not talk about reducing the use of “all fossil fuels”.
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O loss and damage fund is considered the most important topic in COP27, but also one of the most difficult to solve. Developed economies – which are responsible for the majority of greenhouse gas emissions – have always resisted offsets for fear that, when making payments, they would be exposed to legal proceedings, both against governments and companies.
China and USA
China and the US renewed their partnership to confront the climate crisis and are working closely and productively on ways to reduce greenhouse gas emissions, said the head of China's delegation to the COP27.
China's special envoy for climate change, Xie Zhenhua, said he and John Kerry, the US special presidential envoy for climate, had “very constructive” discussions. “We had a close and active dialogue, which overall was very constructive. [We want to] ensure the success of Cop27 and exchange views on our differences.” (The Guardian*)
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However, Xie reinforced that China maintains its position on financial issues. China claims to be a developing country and as such would have no obligation to provide financial assistance to poor nations (i.e. would not be required to give money to the future loss and damage fund).
“[In a] loss and damage fund, if there is any fund, the responsibility to provide funds lies with developed countries,” Xie said. “That is their responsibility and obligation. Developing countries can contribute voluntarily.”
In search of a final agreement
After two weeks of negotiations, a deal vital to the future of human life on Earth has still not been reached.
The closing plenary session of the COP27 It was scheduled for 21pm in Sharm el-Sheikh (16pm in Brasília), but this time has been postponed throughout the day.
According to the British newspaper The Guardian, the plenary session is now expected at around 2am or 3am local time.
So far, the COP27 became the fourth longest COP of all time... and the clock doesn't stop.
The United Nations (UN) International Conference on Climate Change – COP27 – began on November 6, in the Egyptian resort of Sharm el-Sheikh. COP is the UN's major annual event whose objective is to discuss actions aimed at combating climate change.
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