Loss And Damage Funding Makes It To COP27 Agenda


(MENAFN- Brazil-Arab News Agency (ANBA))
Loss And Damage Funding Makes It To COP27 Agenda Image

Sharm El sheikh – Following intense negotiations, loss and damage and climate financing is on the official agenda of the 2022 United Nations Climate Change Conference, or COP27 , that is being held in Sharm El Sheikh, Egypt. Developing nations — which are at the forefront of climate change — want money to help them cope with the losses they are already facing from climate change rather than just to prepare for future impacts. So said Sameh Shoukry, minister of Foreign Affairs of Egypt, who was elected as the president of COP27 on Sunday (6) on the opening plenary of the event that occurs until November 18 at the Sharm El Sheikh International Convention Center.

Shoukry called on countries to show faith in multilateralism over the next two weeks as they negotiate to deliver on the goals of the Climate Convention and the Paris Agreement . The Climate Convention aims to stabilize greenhouse gas concentrations at a level that would prevent human interference with the climate system by setting gas emission targets and negotiation mechanisms to fast-track the achievement of these targets by certain countries. The Paris Agreement aims to contain the global warming and covers climate change mitigation, adaptation and finance.

According to him,“the world is witnessing political turmoil that has cast a long shadow on all our nations and has resulted in energy and food crises .” However, Shoukry said these challenges should be no reason for delaying our collective effort to fight climate change.“It is inherent on us all in Sharm El Sheikh to demonstrate our recognition of the magnitude of the challenges we face and our steadfast resolve to overcome them,” he said.

Minister Shoukry stressed that albeit the challenging economic and geopolitical factors, external circumstances should not be allowed to negatively affect the negotiating process, adding that as a COP hosted in Africa , it must consider the needs of the developing countries and ensure climate justice through availing the appropriate finance and other means of implementation, as countries that are the least responsible for emissions are the most affected by climate change.

The new COP27 president acknowledged the efforts of his predecessor, COP26 president Alok Sharma, and reiterated the commitment of the Egyptian presidency to deliver on an impactful and inclusive COP.

For the first time since its creation, the climate conference will introduce loss and damage funding as an agenda item. Shoukry lauded the sense of responsibility and commitment that parties showed, as well as the collective keenness on preserving the credibility and relevance of the climate process by making the right decision that responds to the suffering of millions of climate calamities victims around the world.

This is considered to be one of the largest COPs ever in terms of attendance. More than 50,000 attendees are expected to participate in COP27's Blue Zone and thousands of others at the Green Zone. The Egyptian presidency has designated several key thematic days that will include pledging opportunities, discussions, roundtables, and side events. The thematic days are part of efforts to advance climate action that can address existing implementation bottlenecks and gaps and deepen engagement with youth, women, civil society and indigenous people.

Guterres

UN president António Guterres sent a video message to the conference in which he called the State of the Global Climate Report 2022 a“chronicle of climate chaos.” In the report, scientists estimate that global temperatures have now risen by 1.15°C since pre-industrial times and said the latest eight years were on track to be the warmest on record.

The report also warned of the other wide-ranging impacts of climate change, including the acceleration of sea level rise, record glacier mass losses and record-breaking heatwaves. Guterres said that in light of these findings, COP27 must be the place for urgent and credible climate action.

Glasgow

At last year's summit in Glasgow (COP26) several pledges were agreed, including phasing down the use of coal – one of the most polluting fossil fuels, stopping deforestation by 2030, cutting methane emissions by 30% by 2030, and submitting new climate action plans to the UN.

Climate Implementation Summit

The Sharm El-Sheikh Climate Implementation Summit (SCIS), or World Leaders Summit, will start Monday (7) and runs until Tuesday (8), bringing heads of state and government.

Following the summit's inauguration, several roundtables led and attended by tens of world leaders will be held to focus on six key topics: Just Transitions, Food Security, Innovative Finance for Climate and Development, Investing in the Future of Energy, Water Security, and Climate Change and The Sustainability of Vulnerable Communities.

Brazil

Environment minister Joaquim Leite will participate in the COP27 representing the current government. President-elect Luiz Inácio Lula da Silva is expected to attend around November 14 with a large delegation, including former Environment minister Marina Silva, senator Simone Tebet, and others. Delegations from cities such as São Paulo and states like Minas Gerais also participate, as well as state-owned and private companies, non-profits, and institutions like the Arab Brazilian Chamber of Commerce (ABCC).

Translated by Guilherme Miranda

©Joseph Eid/AFP

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Brazil-Arab News Agency (ANBA)

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