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Search resuls for: "Dominic Evans William James"


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☆ COP27 delivers climate fund breakthrough at cost of progress on emissions
  + stars: | 2022-11-21 | by ( Valerie Volcovici Dominic Evans William James | Valerie Volcovici | Dominic Evans | ) www.reuters.com   time to read: +7 min
[1/10] Delegates applaud as COP27 President Sameh Shoukry delivers a statement during the closing plenary at the COP27 climate summit in Red Sea resort of Sharm el-Sheikh, Egypt, November 20, 2022. "We had to fight relentlessly to hold the line of Glasgow," a visibly frustrated Alok Sharma, architect of the Glasgow deal, told the summit. He listed off a number of ambition-boosting measures that were stymied in the negotiations for the final COP27 deal in Egypt: "Emissions peaking before 2025 as the science tells us is necessary? Another section of the COP27 deal dropped the idea of annual target renewal in favour of returning to a longer five-year cycle set out in the Paris pact. "I recognise the progress we made in COP27" with the loss and damage fund, Aminath Shauna told the plenary.
☆ Countries agree on 'loss and damage' fund in overnight session to approve COP27 deal
  + stars: | 2022-11-20 | by ( Valerie Volcovici Dominic Evans William James | Valerie Volcovici | Dominic Evans | ) www.reuters.com   time to read: +2 min
SHARM EL-SHEIKH, Egypt, Nov 20 (Reuters) - Countries agreed early Sunday at the COP27 climate summit to set up a fund to help poor countries being battered by climate disasters, but delayed approving a wider deal outlining global resolve to fight climate change. The session approved the text's provision to set up a "loss and damage" fund to help developing countries bear the immediate costs of climate-fuelled events such as storms and floods. Those recommendations would cover "identifying and expanding sources of funding" - referring to the vexed question of which countries should pay into the new fund. Calls by developing countries for such a fund have dominated the two-week summit, pushing the talks past their scheduled Friday finish. The document, which forms the overall political deal for COP27, needs approval from the nearly 200 countries at the climate summit in Egypt.
☆ COP27: Climate talks get boost from G20 declaration
  + stars: | 2022-11-16 | by ( Dominic Evans William James | Dominic Evans | William James | ) www.reuters.com   time to read: +5 min
A G20 declaration on Wednesday said "we will play our part fully in implementing" last year's Glasgow Climate Pact, under which countries pledged to limit the rise in global temperatures to 1.5C above pre-industrial times. "As things stand, the Glasgow Climate Pact is broken, but the G20 have the opportunity to fix it." MISSED OPPORTUNITYThe G20 declaration recognised the need to phase down use of unabated coal and phase out "inefficient" fossil fuel subsidies. Avinash Persaud, special envoy on climate finance to Prime Minister Mia Motley of Barbados, meanwhile, told Reuters the G20 declaration missed the mark on finance. "Unfunded ambition gets us nowhere fast," Persaud said, adding he wanted G20 countries to unlock more lending from multilateral development banks they control to help climate-vulnerable countries.
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