Posted Nov 20, 2022 10:37 AM
The delegations present at the 27th edition of the annual United Nations climate conference, COP27, reached a definitive agreement on the climate on Sunday, providing in particular for the creation of an aid fund for the countries most affected by the impacts. of climate change, without, however, stepping up efforts to combat the greenhouse gas emissions that are responsible for it.
Here is the content of the two main texts adopted.
1. The Final Declaration
On emissions reductions, the statement “stresses the urgent need for immediate, deep, rapid and sustained reductions in global greenhouse gas emissions,” which are responsible for climate change.
UN Secretary General Antonio Guterres, however, regretted the lack of ambition of COP27 to “drastically reduce emissions”.
On targets for limiting warming, the statement “reaffirms the Paris Agreement goal of containing the increase in average temperature to well below 2°C above pre-industrial levels and pursuing efforts to limit global warming. ‘temperature increase to 1.5°C’.
It “recalls that the impacts of climate change will be much lower with an increase of 1.5°C compared to 2°C and decides to continue its efforts to limit the temperature increase to 1.5°C”.
On energy, the statement calls for “accelerating efforts towards phasing out the use of carbon without (CO2) capture and removing inefficient fossil fuel subsidies”. It also calls for “accelerating clean and just transitions to renewable energy”.
Many countries wanted a mention of reducing the use of oil and gas, not just subsidies.
2. The “loss and damage” resolution
The resolution on compensation for damage caused by climate change suffered by vulnerable countries “decided to establish new financing arrangements to help developing countries cope with loss and damage, in particular […] by providing and helping to mobilize new and additional resources”.
In this context, the countries decided “to create an intervention fund in the event of loss and damage”, as well as the creation of a “transition committee” responsible for creating the operating rules of these new provisions, including the fund dedicated. In particular, it will be necessary to determine who will be the contributors. The committee will have to make recommendations “for consideration and adoption” at COP28 at the end of 2023.
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