The UN Climate Conference (COP-27) is coming to its last day today, without a draft agreement that can be implemented in practice. With the negotiations coming to a standstill, the expectation of international observers is that the conference will continue until Saturday or the early hours of Sunday.
Financing for developing countries to face climate change is the most sensitive point. It has been defined since the Copenhagen COP in 2009, but has never really gotten off the ground. According to the agreement, developed countries should reach 2020 with an international fund of US$100 billion per year for developing countries.
However, the latest OECD survey indicates that this value does not exceed US$ 83 billion. “It still counts all sources, public and private, and the most diverse programs, and it’s very little transparent,” says Tasso Azevedo, coordinator of MapBiomas, a platform that brings together tech companies, NGOs and universities, and an observer of the negotiations in Sharm El. – Sheikh.
The fact that the fund is never implemented as planned exacerbates the problem, as negotiations are progressing to determine the amounts that should be provided annually starting in 2025. 2020 and 2025.
After that, the donation was supposed to increase. Brazil’s elected president, Luiz Inácio Lula da Silva, addressed the issue in his first speech to the international community during his three-day visit to Sharm El Sheikh. According to him, who positions himself as the representative of developing countries, it is long past time for developed countries to fulfill their promises.
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There are other knots that still need to be untied. The issue of loss and damage faces great resistance. The purpose of this recognition is to compensate countries where the effects of climate change are already irreversible. Some of the examples are places suffering from desertification processes, melting glaciers or rising sea levels. “The idea is to create a compensation mechanism for these countries, but the US is blocking that negotiation,” Azevedo says. It doesn’t end there. The debate about showing countries’ progress in climate goals is still being debated.
“The idea is to set up a mechanism that will be followed every year for countries to show what they are doing,” Azevedo says.
source: Noticias
Mark Jones is a world traveler and journalist for News Rebeat. With a curious mind and a love of adventure, Mark brings a unique perspective to the latest global events and provides in-depth and thought-provoking coverage of the world at large.