The UN climate conference (COP27) this Sunday adopted two main texts: a final statement and a resolution on compensation for the damage caused by climate change to vulnerable countries.
closing statement
Reducing emissions:
It underscores the urgent need for immediate, deep, rapid and sustainable reductions in global greenhouse gas emissions responsible for climate change.
However, UN Secretary-General António Guterres lamented the lack of ambition at COP27 to “drastically reduce emissions”.
Goals to limit warming:
It confirms the objective of the Paris Agreement to limit the average temperature increase to less than 2°C compared to pre-industrial levels and to continue efforts to limit the temperature increase to 1.5°C.
Recalls that the impact of climate change will be much smaller at a 1.5°C increase than at a 2°C increase, and decides to continue efforts to limit the temperature increase to 1.5°C.
Energy:
It calls for “accelerating efforts to phase out the use of ‘uncaptured carbon (CO2)’ and remove ineffective fossil fuel subsidies.
It calls for “accelerating clean and just transitions to renewable energy”.
Many countries wanted to mention reducing the use of oil and gas and not just subsidies.
Compensation resolution:
Decides to make new arrangements to create funds to support developing countries in addressing the damage caused by climate change, including providing and helping to mobilize new and additional resources.
In this context, it decided to set up an intervention fund in the event of loss and damage.
Creation of a “transitional commission” responsible for the operating rules of these new facilities, including the fund. In particular, it will have to determine who the taxpayers will be. The committee will have to make recommendations “for consideration and approval” at COP28, to be held in late 2023.
Source: DN
