COP27 begins in Sharm el-Sheikh, Egypt
Image credits: AFP

COP27: UN Climate Conference begins with damage financing on the agenda

The UN Climate Conference, COP27, opened this Sunday (6) in Sharm El-Sheikh, Egypt, to try to breathe new life into the fight against global warming and its impacts, for which emerging and vulnerable countries demand financial compensation - a subject that will be on the discussion agenda.

“We will implement (our commitments) together, for Humanity and for our planet,” declared Egyptian Foreign Minister Sameh Choukri, who presides over the COP27, to delegates from all over the world.

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COP27 brings together around 200 countries for two weeks in a context of climate catastrophes: historic floods in Pakistan, heat waves in Europe, hurricanes, fires, droughts… Disasters for which the poorest countries, the most affected, demand financial compensation.

This delicate issue of “loss and damage” has been officially added to the discussion agenda in Sharm El Sheikh during the opening ceremony, while until then it was only the subject of a “dialogue”, scheduled to last until 2024. “This inclusion on the agenda reflects a sense of solidarity and empathy for the suffering of victims of climate-induced disasters”, highlighted Choukri.

“The success or failure of COP27 will be judged according to this loss and damage financing mechanism,” warned Munir Akram, Pakistan's ambassador to the UN and president of the G77+China, which represents more than 130 emerging and poor countries.

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Distrust of developing countries is strong, while promeWith the aid of rich and developed countries to increase to 100 billion dollars per year from 2020, their aid to poor countries to reduce their emissions and prepare for the impacts is still not fulfilled.

Negotiations take place in a context of climate crisis increasingly pressing. The fight for the climate is a “a matter of life and death, for our safety today and our survival tomorrow”, insisted the head of the UN, António Guterres, before COP27. The conference “must lay the groundwork for faster and bolder climate action now and in this decade that will decide whether the climate fight is won or lost,” he warned.

(With AFP)

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