After dawn on Sunday morning in Egypt, bleary-eyed ministers adopted a final agreement for COP27 and completed more than two weeks of UN climate negotiations in the Sinai peninsula
A Breakthrough on Climate Compensation and 7 Other Takeaways From COP27
But beyond loss and damage — the COP-world term for paying up for climate catastrophes — the final deal was a clear disappointment for those wanting to ratchet up the ambitions of last year’s Glasgow agreement. The statement didn’t include a commitment to broaden the pledge to phase down unabated coal emissions to cover all fossil fuels, and there was no reference to global greenhouse gas emissions peaking by 2025.
“The moment is right,” said Laurence Tubiana, chief executive officer of the European Climate Foundation. “Climate impacts are beginning to be understood as a macroeconomic risk.”The issue that held up negotiations and made COP27 the second-longest UN climate summit was the “mitigation work program.” The idea is to ensure that countries set clear targets, plans and metrics to reduce emissions on pace to meet climate goals.
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