Switzerland Denounces COP Outcome, Hesitates To Contribute To New Fund
Date
11/20/2022 2:08:56 PM
(MENAFN- Swissinfo)
Decisions about who should pay into the newly-agreed fund have been postponed to next year. Copyright 2022 The Associated Press. All Rights Reserved
After going into a second straight night of deliberations, the climate conference ended with an agreement to set up a long sought-after fund to pay developing countries for loss and damage resulting from climate change. Switzerland has yet to confirm if it will take part.
This content was published on November 20, 2022 - 14:53 November 20, 2022 - 14:53 Paula Dupraz-Dobias is an award-winning Geneva-based journalist covering environment, business, international organizations, humanitarian crises and Latin America.
Paula Dupraz-Dobias, Sharm El-Sheikh, Egypt As delegates from 197 countries convened a final time early Sunday morning to adopt texts that had been under discussion over the two-week-long United Nations climate conference, the Swiss delegation requested a brief suspension of proceedings to review the final declaration.
Climate negotiators then shuffled around. Switzerland's negotiator, Franz Perrez, could be seen discussing with Alok Sharma, his United Kingdom counterpart, among others, while the Egyptian presidency watched on from the podium.
COP27 ended Sunday morning after a long night of negotiations with an agreement to create a global fund for“loss and damage” that will provide financial assistance to poor nations struck by climate disaster. While the fund was welcomed by countries of the Global South who suffer most from the effects of climate change, controversial decisions were left until next year, including who should pay into it.
'Not a good outcome'Meanwhile, negotiators failed to make any advances to encourage rapid cuts in fossil fuel use, a move that would ensure global warming remains under 1.5°C compared to pre-industrial levels. Saudi Arabia and Russia in particular refused the inclusion of language in the final declaration that would phase out all fossil fuels, and not just coal, as was agreed last year in Glasgow.
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