At the COP27 climate conference in Egypt on Saturday, negotiators came very close to agreeing on a ground-breaking plan for a fund to assist impoverished nations suffering from the effects of climate change, but they couldn’t agree on how to reduce the greenhouse gas emissions that were generating them.
In light of the fact that the final climate agreement had already been delayed by more than a day, representatives from more than 200 countries were eager for a settlement they could promote as a victory in the battle against climate change.
‘Now is the time to move quickly, but not quickly in the direction of failure. Not quickly enough to accept a decision that we later come to regret,’ according to Eamon Ryan, Ireland’s environment minister.
According to Frans Timmermans, the leader of the European Union’s climate policy, ministers from the regional bloc are prepared to ‘walk away’ if the agreement is not sufficiently ambitious.
Although a conflict in Europe and excessive consumer prices are deflecting attention, the completion of the two-week meeting in the tourist resort of Sharm el-Sheikh will test how serious the world is about addressing global warming.
In order to prevent the worst effects of climate change, the COP27’s draught agreement, which was released on Saturday, upheld previous commitments to keep global warming below 1.5 degrees Celsius, but it showed little sign of new ambition to make the necessary emission reductions.
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