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 cli

mate 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 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