Experts say biggest economies must pledge more cuts to carbon emissions but hail agreement to set up loss and damage fund
By Fiona Harvey in Sharm el-Sheikh
20 Nov 2022
The world still stands “on the brink of climate catastrophe” after the deal reached at the Cop27 UN climate summit on Sunday, and the biggest economies must make fresh commitments to cut greenhouse gas emissions, climate experts and campaigners have warned.
The agreement reached in Sharm el-Sheikh early on Sunday morning, after a marathon final negotiating session that ran 40 hours beyond its deadline, was hailed for providing poor countries for the first time with financial assistance known as loss and damage. A fund will be set up by rich governments for the rescue and rebuilding of vulnerable areas stricken by climate disaster, a key demand of developing nations for the last 30 years of climate talks.
But the outcome was widely judged a failure on efforts to cut carbon dioxide, after oil-producing countries and high emitters weakened and removed key commitments on greenhouse gases and phasing out fossil fuels.
Mary Robinson, chair of the Elders Group of former world leaders, ex-president of Ireland and twice a UN climate envoy, said: “The world remains on the brink of climate catastrophe. Progress made on [cutting emissions] has been too slow. We are on the cusp of a clean energy world, but only if G20 leaders live up to their responsibilities, keep their word and strengthen their will. The onus is on them.”
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