After two weeks of talks and 24-hours of last minute haggling, a deal was reached at COP27. It will see developed countries pay into a “loss and damage” fund to compensate poorer countries suffering the worst effects of climate change. RoachSN reports.
Exhausted after two weeks of talks and 24 hours of last-ditch haggling, negotiators emerged as dawn broke in Sharm el Sheikh with a deal… of sorts.
Developing nations hailed as historic, the establishment of a so-called “loss and damage” fund to compensate poorer countries hit by climate change. But who pays and how much is still up in the air – China is unhappy at suggestions it should join developed nations in footing the bill. And with gas now potentially classed a “low emission energy” and no fresh commitments to phase out fossil fuels, Britain’s climate envoy warns the aim of limiting global warming to 1.5 degrees was on “life support”.
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COP27: Nations need extra day to reach crucial climate change dealHopes of sealing a deal at the COP27 climate summit in Egypt hang in the balance, as nations try to find agreement on how to compensate undeveloped nations most affected by climate change. RoachSN reports.
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COP27 ends in tears and frustration: ‘The world will not thank us’\n\t\t\tJournalists in 50+ countries follow the constant flow of money made and lost in oil & gas while\n\t\t\ttracking emerging trends and opportunities in the future of energy. Don’t miss our exclusive\n\t\t\tnewsletter, Energy Source.\n\t\t
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COP27 ends in tears and frustration: ‘The world will not thank us’\n\t\t\tJournalists in 50+ countries follow the constant flow of money made and lost in oil & gas while\n\t\t\ttracking emerging trends and opportunities in the future of energy. Don’t miss our exclusive\n\t\t\tnewsletter, Energy Source.\n\t\t
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