COP27 final postponed until this Saturday

“I am determined to close this conference tomorrow, in an orderly manner”, declared, to the representatives of almost 200 delegations, the Egyptian foreign minister and president of COP27, Sameh Choukri.

Negotiations in the resort of Sharm el Sheikh are blocked on the issue of more ambitious financing that poor and developing countries demand from richer nations, to reduce greenhouse gas emissions, adapt to the effects of climate change and decarbonize your savings.

One of the main points of divergence is the demand by vulnerable countries for the creation of a specific fund to compensate them for the losses and damages already suffered by global warming, a phenomenon to which poor nations have contributed much less, historically, than the poorest nations. rich.

The topic was included on the COP27 agenda when debates began on November 6. Officially, the parties have until 2024 to negotiate the issue, but developing countries are pushing to obtain a political commitment this weekend to create the fund, seen with reluctance by the United States and the European Union.

The Egyptian foreign minister expressed concern about the number of issues pending in the agreement and related to “financing, mitigation (of greenhouse gas emissions), losses and damages, all interconnected”.

“I appeal to the parties to work together to resolve these outstanding issues as quickly as possible,” Shukri emphasized.

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