1.5°C goal alive
Key among the issues discussed was the 1.5°C goal. COP27 countries, the document said, “stresses the importance of exerting all efforts at all levels to achieve the Paris Agreement temperature goal of holding the increase in the global average temperature to well below 2°C above pre-industrial levels and pursuing efforts to limit the temperature increase to 1.5°C above pre-industrial levels,”.
It goes on to point out that developed countries have failed to mitigate emissions based on their fair share and historical responsibility, a portion that is likely to be of particular contention.
“Expresses deep regret that developed countries who have the most capabilities financially and technologically to lead in reducing their emissions continue to fall short in doing so, and are taking inadequate and unambitious goals to achieve net zero emissions by 2050, while they continue to emit and disproportionately consume the global carbon budget,” the draft said.
Overall, the cover decision encourages wealthy countries to increase support and align funding flows with the 1.5°C goal.
This is not the final text and it may change significantly. Egypt being a developing country itself has been trying to reflect the concerns of developing country groups.
“The Paris Agreement says in black and white. Under Article 2, it states that the entire Paris Agreement should be guided by based on equity and common but differentiated responsibilities. This is a conversation that takes place every year. We are patrons at this time and we are trying to find a common ground. We will have to find the right language to accommodate differentiation. We are aware of the various positions and we are working now to accommodate the parties’ views but also the legal agreement that we ratified together,” Egypt’s COP27 ambassador Wael Aboulmagd said on Wednesday evening when asked by HT on how the Presidency would address the push by rich countries to remove differentiation among countries.
Negotiators said the task to find consensus will be difficult. “It’s going to be quite a long and difficult journey to the end of this process,” European Union climate policy chief Frans Timmermans told a news conference. “Today, I’m afraid I’m not sure yet where these talks will land.”
“If this COP fails, we all lose.”