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Search resuls for: "Valerie Volcovici 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.
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