Earlier, the presidency of COP27 announced that negotiations will be extended until Saturday (19).
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Losses and damages
This Friday (18), this is only talked about in the COP27.
Losses and damages are the consequences of climate changes when it is not possible to resist or adapt to the impacts that climate change causes on human activities and natural systems. Losses and damages are suffered more intensely by communities that are already more vulnerable due to social, geographic and economic issues, making their approach a matter of climate justice.
After not being mentioned in the draft agreement published yesterday (17), in the early hours of this Friday (18), the European Union (EU) agreed to the creation of the financial compensation mechanism for poorer and more climate-vulnerable countries due to damage that they are already suffering from the climate changes.
The vice-president of the European Commission, Frans Timmermans, reconsidered the bloc's position and launched a proposal on behalf of the EU for a loss and damage fund that would be aimed at supporting “more vulnerable countries”, with a broad base of financial donors contributing, including developing countries such as China .
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In Timmermans' proposal, the fund would not work in isolation, but as part of a mosaic of solutions that includes the reform of multilateral development banks, for example. The EU also demands more ambition in cutting emissions.
Regarding the origin of the money to feed the fund, the European bloc's proposal says:
“We must work with the UN Secretary-General to seek solutions for innovative sources of financing – including taxes on aviation, shipping and fossil fuels.”
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The EU's decision puts much greater pressure on China, which has so far avoided any obligation to provide climate finance to poorer countries despite being the world's biggest emitter and the world's second-largest economy.
The European bloc's action also draws attention to the United States (USA), which opposed the creation of the fund and has not yet responded to the proposal.
On a social network, professor Simon Evans drew attention to the fact that the USA has the greatest historical responsibility for climate change. According to the expert, if Chinese carbon dioxide (CO2) emissions remained constant, the US would still have a big advantage over China in 2030.
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New draft
The United Nations climate agency published this Friday (18) a new draft of the negotiation text for the agreement that delegates at the COP27 summit hope to conclude in the coming days.
Released before the EU's announcement, the text builds on previous, less formal negotiations and did not set out a solution to the “loss and damage” financial arrangements. Instead, according to Reuters (*), contained replacement text, indicating that delegates were still seeking consensus on the matter.
“Have a heart”
A climate activist from Ghana, just 10 years old, spoke this Friday (18) to the delegates gathered at COP27, appealing to them to “have a heart”.
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Nakeeyat Dramani spoke 'on behalf of young people' fearful for the future, who see the impact of the climate crisis every day, and at the end of his speech he recited a poema, calling on leaders to step up the fight against the climate crisis, and then erected a sign reading 'overdue payment', in reference to funds long prometaken by developed countries.
The speech moved many people present, who gave Nakeeyat a standing ovation.
Fridays for the future
Young activists hold a movement-style demonstration this Friday (18) Fridays For Futureand, marking the last formal day of this COP. Marching through one of the pavilions outside the centers where negotiations are still taking place, young people held banners with slogans such as “Don’t just say it, pay it!”
Dishonorable mention
The Fossil of the Year “award” – given to the countries that most impeded progress in negotiations or implementation of the Paris Agreement – was awarded this Friday (18) to the United States.
Brazil and Russia, however, won an honorable (or rather, dishonorable) mention of the award.
“Brazil also deserves an honorable mention. Another country that was strangely mute in these COP27 negotiations, but has spent the last four years trying to destroy the Paris Agreement while violating human and environmental rights. The anti-environmental policies of Bolsonaro's outgoing government caused Brazil to increase its emissions for four consecutive years, an unprecedented growth since measurement began in 1990. This is mainly due to deforestation in the Amazon, which is out of control and has increased by 73% in the current administration. Although the winds may be changing in Brazil, we cannot ignore the damage caused. Goodbye and good riddance to Bolsonaro and his climate disaster.”
The selection of the “winners” is made by the members of the Climate Action Network (CAN), a network of more than 1,9 NGOs around the world that work to combat climate change.
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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