'This first victory is indeed huge, but developed countries still need to deliver on this fund because an empty fund is an empty promise for the millions of people all over the world who are already suffering from the consequences of climate change.'
The 27th Conference of Parties under the UN Framework Convention on Climate Change , Kyoto Protocol and Paris Agreement, attended by 47,000 delegates, delivered on the promise of being an 'Implementation COP'. It was the third longest in the history of the annual climate summit, with parties working overtime thirty-six hours after the conference's scheduled closure.
The biggest news of COP27 is the global consensus on loss and damage, which was a positive, surprising outcome of the talks. The biggest news of COP27 is the global consensus on loss and damage, which was a positive, surprising outcome of the talks. The two-week annual meeting attended by over 100 heads of states and governments started at a tense temperature, as there was a clear divide between historic and huge-emitter countries and the Group of 77/China bloc on the issue.
The general public perceive the UN COPs as a global governance body where diplomats, politicians, climate scientists, business leaders and civil society actors gather each year to solve the climate crisis. Under that surface, the COP's annual two-week conference was actually a battlefield wherein various simultaneous intense negotiations occur. Parties fight for their national and regional interests and the processes are actually full of conflicts.
Our research at Global Justice Now showed that the Big 5 oil companies—Chevron, ExxonMobil, BP, Shell and TotalEnergies—have made overof profit in the past 12 months. That's more money every day than the sum committed so far to loss and damage finance by rich countries . These five companies alone are also responsible for 11% of historic emissions.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pa. titanium plant furnace blast causes roof damage, no injuriesOfficer Kyle Tranovich of the Caernarvon Township police department said a skeleton crew of only six people was working in the TIMET Morgantown plant due to the holiday before the 2:30 p.m. Thursday blast.
Read more »
San Francisco Hotels Demand City Compensate for Damage by HomelessSan Francisco hotels are demanding millions of dollars from the city to compensate them for damage incurred while housing the homeless under a municipal government program launched during the COVID-19 pandemic.
Read more »
Ohio State hospital tower did not sink because of structural damage, university saysAdditional reinforcement will be used to shore up a concrete column with cracks found at Ohio State's new inpatient hospital tower under construction.
Read more »
Trump in damage control mode after dinner with infamous white nationalistFormer President Donald Trump responded after receiving backlash for dining with white nationalist Nick Fuentes at his Mar-a-Lago resort in Florida on Tuesday, saying he 'didn’t know Nick Fuentes.'
Read more »
Analysis | How China, the world’s top climate polluter, avoids paying for the damageAnalysis: China has been classified as developing country since 1992. Now, China is the world’s second-largest economy and the biggest emitter of greenhouse gases. Some say the classification allows China to avoid paying for the ravages of climate change.
Read more »