The COP27 General Assembly in Sharm El-Sheikh approved the final document of the conference. The paper maintains the goal of keeping global warming within 1.5 degrees of pre-industrial levels, the key achievement of COP26 in Glasgow last year.
L’European Union He expressed “disappointment“For a ‘lack of ambition’ in the COP27 climate conference’s final agreement on the roadmap for reducing carbon dioxide emissions.” What we have is not enough to constitute a step forward for the peoples of this planet. “It does not bring enough additional efforts from the biggest polluters to increase and accelerate their emissions,” said the vice-president of the European Commission. France TimmermansThe conclusion of the United Nations Climate Conference in Sharm El-Sheikh.
The importance of switching to renewable sources is emphasized and it is hoped that subsidies for fossil fuels will be eliminated. But the document only calls for limiting, not eliminating, the production of coal-fired electricity with unabated emissions. More importantly, it says nothing about reducing or eliminating the use of fossil fuels, as many countries have advocated.
Guterres, did not touch on reducing emissions “We need to cut emissions now, and that’s a problem this COP has not addressed. A Loss and Damage Fund is necessary, but it is not a response to a climate crisis that is wiping a small island off the map, or turning an entire African country into a desert. The world still needs a giant leap in climate ambition The red line we must not cross is the one that takes our planet above the 1.5 degree temperature mark.” This was stated by the Secretary-General of the United Nations, Antonio Guterres, in the closing message of the twenty-seventh session of the Conference of the Parties in Sharm El-Sheikh.
Cop27 recognizes that maintaining the 1.5° target requires a 43% reduction in emissions by 2030 compared to 2019. With current commitments to decarbonise, however, the emissions reduction will be only 0.3% by 2030 compared to 2019. For these countries, the Countries that have not yet updated their NDC targets are invited to do so by 2023.
Regarding adaptation to global warming, the document calls for increasing funds and studying the possibility of doubling them (in Glasgow there was direct talk about doubling them). Cop27 believes that to achieve net zero emissions in 2050, it is necessary to invest up to 2030 $4000 billion annually in renewables and another $4-6000 billion in an emissions-based economy.
The document notes with “grave concern” that the $100 billion annually from 2020 provided for in the Paris Agreement to help the least developed countries with climate policies has not yet been created. According to forecasts, it will not be talked about until 2023. The flow of climate finance to developing countries in the biennium 2019-2020 was 803 billion, 31-32% of what is needed to maintain 1.5 or 2 degrees.
The document first provides an fWork to mitigate losses and damages caused by climate change (loss and damage) in the most vulnerable countries. An early warning system for extreme weather events has also been planned in all countries of the world.
The final document of the Sharm el-Sheikh 27 conference is “not sufficient” in combating climate change, and the novelty of the Loss and Damage Fund is “not sufficient for mitigation.” This was stated by the Vice-President of the European Commission, France Timmermans, speaking at the closing plenary session of the twenty-seventh conference of the parties in Sharm El-Sheikh. “I ask you to realize that we have all failed to reduce losses and damage – Timmermans continued -. We should have done much more, and that means reducing emissions much more quickly.” For the Vice-Chairman of the Commission “We have tried to get everyone on the 1.5C target, with emissions peaking in 2025 and with a clear intention to eliminate fossil fuels. We heard this week that 80 countries support these targets. Unfortunately, we don’t see them reflected here. Some have set Unnecessary roadblocks. But we will not stop fighting to do more.” The vice-chairman of the negotiations said, “There have been numerous attempts to back out of even Glasgow’s commitments.
Someone is afraid of transformation, of the costs of change. I understand all of these concerns, and many Europeans share them. But I want to ask all colleagues to find the courage to overcome this, and I am reaching out to you to help you.” We have already wasted a lot of time – Timmermans concluded. Let’s take back the push we got in Glasgow, let’s stand up for Glasgow’s ambitions. Today we start preparing for COP 2023.”
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