COP27 talks down to wire as rifts deepen

SHARM EL SHEIKH: Countries were considering a draft for a final COP27 climate deal on Saturday, hours after it seemed like parleys could collapse after the European Union threatened to walk out following apparently unresolvable differences between developed and developing countries, though some breakthrough appeared to have been made.

The draft cover decision, a summary of the significant resolutions and agreements, recognised the need to limit global warming to 1.5°C and achieve deep and sustained reductions in greenhouse gas emissions, recognising that the impact of the climate crisis will be much lower at the temperature increase of 1.5°C compared with 2°C.

“The big takeaway from the talks at Sharm El Sheikh is the agreement to have a loss and damage fund. It’s a very big acknowledgement that loss and damage is happening due to climate crisis. The text doesn’t mention historical responsibility but it is noting the increasing urgency of enhancing efforts to avert, minimise and address loss and damage associated with the adverse effects of climate change in light of continued global

Highlights of the latest draft of the COP27 climate deal

warming and its significant impacts on vulnerable populations and the ecosystems on which they depend,” said an Indian negotiator, who added that India’s loss and damage costs will likely be in the tens of billions of dollars.

“Yes, some compromises have happened and there are loose ends but if agreed it is big. For decades vulnerable countries have asked for new separate funding on this and an acknowledgement of the loss,” he added.

Another big takeaway, this person added, “was that despite several attempts to break the G77

+ China unity, by suggesting India and China and other emerging economies and high income countries be donors to loss and damage finance facility, the bloc has remained unified”.

It was not, till the time of going to press, clear if all 197 governments would back it.

At 6.42 PM when a closing plenary was expected, negotiators said a major area of work under the Mitigation Work Programme (on how can Paris goals on reducing emissions can be rapidly achieved) was stuck with parties remaining divided.