SHARM EL Sheikh (EGYPT),: The United Nations COP27 Summit in Egypt concluded Sunday with the adoption by delegates of two main texts: a final Declaration and a final Declaration and a landmark deal Climate “loss and damage”.
These are the main points. points The two documents contain commitments regarding global warming and greenhouse gas emission. and Energy and funding for countries in need to cope with the devastating effects of climate change are two aspects that we offer. of Climate change
Cut emissions:
COP27 “emphasises the urgent need for immediate, deep, rapid and sustained reductions in global greenhouse gas emissions”They contribute to global warming.
UN Secretary-General Antonio Guterres deplored a reluctance to “drastically reduce emissions now”.
Warming targets
The last declaration “reaffirms the Paris Agreement temperature goal of holding the increase in the global average temperature to well below two degrees Celsius above pre-industrial levels and pursuing efforts to limit the temperature increase to 1.5°C”.
It also “reiterates that the impacts of climate change will be much lower at the temperature increase of 1.5°C compared with 2C, and resolves to pursue further efforts to limit the temperature increase to 1.5C”.
COP27 Parties are urged to make calls “to accelerate efforts towards the phasedown of unabated coal power and phase-out of inefficient fossil fuel subsidies”.
Many countries wanted to include a mention of Reducing the use of Oil and Natural gas is better than subsidies
“Unabated” This refers to coal-fired power plant emissions that are not syphoned to stop them entering the atmosphere.
It also calls for acceleration “clean and just transitions to renewable energy”.
Parties “decide to establish new funding arrangements for assisting developing countries… in responding to loss and damage, including… by providing and assisting in mobilising new and additional resources”.
They also “decide to establish a fund for responding to loss and damage”.
“A transitional committee” The regulations will be established for the new funding arrangements and Find the “sources of funding”.
The committee will then present its recommendations “for consideration and adoption” Dubai’s COP28 summit in the next year.