COP27 reaches final deal: 'Clearly this will not be enough'
After negotiations that stretched deep into Saturday night, participants at the UN climate summit in Egypt's Sharm el-Sheikh adopted a final declaration on Sunday morning. The deal calls for a "rapid" reduction in greenhouse gas emissions and reaffirms the target of limiting global warming to 1.5 degrees Celsius. However, there is no sign of progress on a farewell to fossil fuels.
Several countries, including India, have recently advocated for a gradual exit from all fossil fuels at COP27 in Sharm el-Sheikh. The final text, however, simply adopts the wording already adopted in Glasgow, much to the dismay of the most progressive countries on this issue.
“Our planet is still in the emergency room"
Shortly before the summit ended, participants did agree on a loss and damage fund for particularly vulnerable countries. Through the fund, rich countries would provide resources for climate damage already suffered in developing countries. Countries already feeling the effects of global warming, such as Pakistan, have been calling for such a fund for some time. How much money will go to the fund, who exactly should contribute and which countries might receive money all remain to be discussed in the coming year.
UN Secretary-General Antonio Guterres expressed disappointment over the COP27's lack of ambition on Sunday. “Our planet is still in the emergency room. We need to drastically reduce emissions now and this is an issue this COP did not address,” Guterres said after the climate summit.
In an earlier statement, Guterres did praise the creation of the loss and damage fund for particularly vulnerable countries. "Clearly this will not be enough, but it is a much-needed political signal to rebuild broken trust," said Guterres. The voices of those on "the front lines of the climate crisis" need to be heard.
Egypt's Foreign Minister Sameh Shukri (Centre) speaks during the closing session of the COP27 climate conference at Sharm el-Sheikh, Egypt © JOSEPH EID / AFP