The Conference of the Parties on Climate Change (COP 27), which ended Sunday in Sharm el-Sheikh, approved two main texts, namely the Final Declaration and the Decision on the financing of climate damage caused by poor countries, which provides for the creation of a background. 🇧🇷
- emission reduction
The text “underlined the need for immediate, deep, rapid and sustainable reductions in global greenhouse gas emissions”, responsible for climate warming.
The document “reaffirmed the Paris Agreement’s goal of containing the rise in average temperatures well above 2°C above pre-industrial levels and continued efforts to limit warming to 1.5°C.”
He noted that “the consequences of climate change would be much less with 1.5 degrees Celsius of warming than with 2 degrees Celsius, and decided to continue efforts to limit the temperature rise to 1.5 degrees.”
The text called for “accelerated efforts to end the use of carbon-rich coal and fossil fuel subsidies”.
He also called for an “acceleration of a clean and just transition to renewable energy”.
- loss and damage
“It was decided to conclude new financing arrangements to help developing countries cope with loss and damage, especially (…) by providing and mobilizing new and additional resources.”
In this context, “it was decided to set up a loss and damage response fund”.
It was also decided to create a “transition committee” tasked with establishing operational procedures for these new arrangements, including a special fund, to present recommendations for “study and approval” at the next Conference of the Parties in late 2023. United Arab Emirates.
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