France welcomed this Sunday the progress made at the UN Climate Conference (COP27) for the most vulnerable countries, but regretted “the lack of climate ambition” registered in Egypt, announced the French Minister for Energy Transition.
“No progress has been made on the need for additional efforts to reduce greenhouse gases or phase out fossil fuels,” lamented Agnès Pannier-Runacher, who considered the situation “a real disappointment.”
The minister stressed, however, that this conference “responded to the expectations of the most vulnerable countries with a breakthrough: the creation of new financing tools for losses and damages linked to climatic disasters.”
The UN annual climate conference today approved an agreement that provides for the creation of a fund to finance climate damage suffered by “particularly vulnerable” countries, in a decision described as historic.
The resolution was unanimously adopted in the plenary assembly, 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 help developing countries that are particularly vulnerable” to the “economic and non-economic” impacts of climate change.
The implementation of the fund will be elaborated by a special commission and then adopted at the next COP28, at the end of 2023, in the United Arab Emirates.
The 27th United Nations Conference on Climate Change began on November 6 and ended today in Sharm-el-Sheikh, Egypt, bringing together more than 35,000 participants, including several country leaders, with around two thousand interventions on more than 300 themes.
Source: TSF
