COP27’s clock ticks as issues remain pending
SHARM EL-SHEIKH: As the UN climate talks in Egypt near the half-way point, negotiators are working hard to draft deals on a wide range of issues they’ll put to ministers next week in the hope of getting a substantial result by the end. Here is a look at the main issues on the table at the COP27 talks
Cutting emissions
Negotiators are trying to put together a mitigation work programme that would capture the various measures countries have committed to reducing emissions. Many of these pledges are not formally part of the UN process, meaning they cannot easily be scrutinized at the annual meeting. A proposed draft agreement circulated early Saturday had more than 200 square brackets, meaning large sections were still unresolved.
Shunning fossil fuels
Last year’s meeting almost collapsed over a demand to explicitly state in the final agreement that coal should be phased out. In the end, nations agreed on several loopholes, and there are concerns that negotiators from nations which are heavily dependent on fossil fuels for their energy needs or as revenue might try to roll back previous commitments.
Money matters
Rich countries have fallen short on a pledge to mobilize $100 billion a year by 2020 in climate finance for poor nations. This has opened up a rift of distrust that negotiators are hoping to close with fresh pledges. But needs are growing and a new, higher target needs to be set from 2025 onward.
Compensation
The subject of climate compensation was once considered taboo. But intense pressure from developing countries forced the issue of ‘loss and damage’ onto the formal agenda at the talks for the first time this year. Whether there will be a deal to promote further technical work or the creation of an actual fund remains to be seen. This could become a key flashpoint in the talks.