In a post on his official account on the social network Twitter, Augusto Santos Silva, on the other hand, noted that “a firm commitment” on fossil fuels is still missing.
“While there is still no firm commitment on timetables and targets for fossil fuel abandonment, COP27 reached an agreement on financial support for countries most vulnerable to climate change, which is excellent news,” writes the Speaker of Parliament .
COP27 ended today in Sharm el-Sheikh with the adoption of two main texts, a closing statement and a resolution on compensation for the damage caused by climate change to vulnerable countries.
For the Egyptian presidency of COP27, the balance is positive, given that the agreements reached meet the original objective of making Sharm el-Sheikh the “implementation conference”, while UN Secretary-General António Guterres complained about COP27’s lack of ambition in terms of reducing emissions.
The resolution on financial aid was passed unanimously in plenary, followed by thunderous applause, at the end of the annual UN climate conference.
The resolution emphasizes the “immediate need for new, additional, predictable and adequate financial resources to assist developing countries that are particularly vulnerable” to the “economic and non-economic” impacts of climate change.
One of these possible financing modalities is the establishment of a “loss and damage relief fund”, a demand of developing countries. However, the implementation modalities of the fund will still have to be drawn up by a special committee, to be approved at the next COP28, at the end of 2023, in the United Arab Emirates.
French President Emmanuel Macron has already announced his intention to host a summit in Paris in 2023 to put into practice this “new financial pact” for vulnerable countries ahead of the next climate meeting in Dubai.
The closing statement of COP27, on the reduction of emissions, emphasizes the urgent need for immediate, deep, rapid and sustainable reductions in global emissions of greenhouse gases responsible for climate change.
In terms of targets to limit warming, the COP27 final statement reaffirmed the goal of the Paris Agreement to keep the average temperature increase below 2° Celsius above pre-industrial levels and continued efforts to limit the temperature increase. to 1.5° Celsius.
The 27th UN Climate Change Conference began on November 6 and ended today in Egypt’s Sharm el-Sheik, where 112 heads of state and government gathered.
Source: DN
