Climate change efforts still hanging at COP27

With a Friday deadline fast approaching, negotiators at the UN-led Cop27 in Egypt are working round the clock to hammer out a deal that would satisfy, if only partially, developing nations demanding “climate justice”.

The summit’s Egyptian hosts have been calling for a “meaningful outcome” of the 200-nation gathering, with their reputation as seasoned diplomats and negotiators on the line.

Talks have since Wednesday been conducted by pairs of ministers, one from a developed nation and the other from a rich one, the idea being to provide the political balance necessary for compromise.

Among the most divisive issues are loss and damage — climate parlance meaning rich nations responsible for most gas emissions providing funds for developing nations with a negligible contribution to global warming.

The funds are designed to help developing nations in their adaptation to and mitigation of the effects of climate change. The US and its EU allies believe existing finance mechanisms should be sufficient and are proposing their expansion in some cases, rather than creating a new one dedicated to loss and damage.

Their position is partially rooted in the fear that a separate loss and damage body might evolve into a reparation scheme laden with notions of historical responsibility. However, there are signs that they may be softening their stance.

On Wednesday, the EU announced it was giving more than $60 million to loss and damage, a negligible sum with outsize symbolic significance.

Separately, negotiations are on track to reject calls for phasing down the use of all fossil fuels, frustrating efforts by India and major developed nations to target oil and gas, as well as coal, in an overarching deal at Cop27.

The Egyptian presidency has published the first draft of its so-called “cover decision”, largely keeping last year’s pledge at Glasgow to “accelerate measures towards the phasing down of unabated coal power” and phase out fossil fuel subsidies.

The draft, according to the Egyptian presidency, also renews a commitment made seven years ago in Paris to keep global warming to 1.5°C above pre-industrial levels.

The draft document also notes that many countries are falling well short on meeting the climate finance needs of developing countries. The draft, which remains subject to revision and fresh input, is likely to anger anti-fossil fuel activists who have been pushing for a harsh stance on the issue.

Cop27 has attracted what activists say is an unprecedentedly high number of oil and gas executives and lobbyists. The draft document also acknowledges the energy crisis gripping the world, as concerns about fuel needs prompt countries to embrace more coal-fired power.