Climate fund breakthrough offers hope at COP27
SHARM SHEIKH: COP27 host Egypt scrambled to salvage the UN climate talks on Saturday with the European Union and Pakistan signalling a breakthrough over the contentious issue of “loss and damage” funding for climate vulnerable nations.
Talks stalled over the terms under which wealthy polluters provide “loss and damage” funding for countries wracked by climate disasters, as well as over ratcheting up ambition in tackling global warming.
After the EU roundly rejected a document shown by Egypt overnight because of concerns it was weak on curbing emissions, a source from the bloc said at least the loss and damage issue was “agreed” as far as it was concerned. The agreement was still subject to confirmation at a closing meeting.
Pakistan’s Climate Minister Sherry Rehman said she was “hopeful of a positive outcome” on loss and damage, with last details still being worked out to get the final agreement over the line.
She said a deal would be the culmination of a 30-year campaign by developing countries. “If that happens today, that will be a historic reminder to vulnerable people all over the world that they have a voice and that if they unite,” she said.
Published in Dawn, November 20th, 2022
