{"id":12290,"date":"2022-11-09T04:36:00","date_gmt":"2022-11-09T02:36:00","guid":{"rendered":"https:\/\/www.ir-ia.com\/news\/?p=12290"},"modified":"2022-11-09T12:25:38","modified_gmt":"2022-11-09T10:25:38","slug":"world-leaders-urged-to-take-urgent-climate-action-and-commit-to-financing-at-cop27","status":"publish","type":"post","link":"https:\/\/www.ir-ia.com\/news\/world-leaders-urged-to-take-urgent-climate-action-and-commit-to-financing-at-cop27\/","title":{"rendered":"World leaders urged to take urgent climate action and commit to financing at COP27"},"content":{"rendered":"\n

More than 100 world leaders have started arriving in Egypt for the UN\u2019s annual climate change summit COP27 to discuss pressing climate challenges ranging from climate reparations and adaptation to cutting harmful greenhouse gas emissions. <\/strong><\/p>\n\n\n\n

Delegates from early 200 countries will be attending the 27th session of the Conference of the Parties (COP27) to the United Nations Framework Convention on Climate Change in Sharm El-Sheikh, Egypt, from November 7-18. German Chancellor Olaf Scholz, French President Macron, and British Prime Minister Rishi Sunak were among the top leaders who attended the inaugural while U.S. President Joe Biden is due to appear later on. The most visibly absent were the leaders of China and India.<\/p>\n\n\n\n

The summit focuses on turning climate pledges into climate action in pursuit of net-zero emissions, enhanced resilience for the most vulnerable, and meeting the Paris Agreement goal of limiting temperature rise to 1.5 degrees Celsius by the end of this century. <\/p>\n\n\n\n

\u201cCOP27 is an opportunity to showcase unity against an existential threat that we can only overcome through concerted action and effective implementation,\u201d said Egyptian President Abdel Fattah El-Sisi. He added that Egypt would ensure that COP27 becomes the moment \u201cwhen the world moved from negotiation to implementation and where words were translated to actions.\u201d<\/p>\n\n\n\n

The COP27 summit is happening near the end of a year that has seen devastating floods and unprecedented heat waves, wildfires, droughts, storms, and climate emergencies in Africa, China, Pakistan, Europe, and the United States. Millions are also confronting the impacts of crises in energy, food, water, and cost of living, aggravated by conflicts.<\/p>\n\n\n\n

\"COP27\"<\/a>
Delegates from early 200 countries are attending the COP27 climate summit in Sharm El-Sheikh, Egypt, from November 7-18. (Image Credit: COP27\/Twitter)<\/em><\/sup><\/figcaption><\/figure><\/div>\n\n\n\n

\u2018Loss and Damage\u2019 compensation tops the agenda<\/strong><\/p>\n\n\n\n

For the first time, developing nations succeeded in getting the issue of \u201closs and damage\u201d onto the summit agenda as low-emitting countries inundated with floods or watching their islands sink into the ocean are demanding that developed and high-emissions countries pay up for the climate-fueled disasters. But the issue has remained stalled for years. The large polluters, European Union, U.S., and UK, have blocked a proposal to establish a fund at last year\u2019s UN climate talks and instead agreed to a dialogue without a clear end goal.<\/p>\n\n\n\n

Pakistan, which is still reeling from the unprecedented rains and floods that killed more than 1,700 people this year, demanded urgent action on loss and damage funding to meet the pressing humanitarian needs. \u201cWe have been talking for years. But have failed to even agree on the basics. Pledges made at the Copenhagen COP15 in 2009 for mobilizing $100 billion per annum by 2020 have still not been realized. They need to be enhanced given the increased frequency and intensity of climate extreme events,\u201d said Pakistan\u2019s Prime Minister Shehbaz Sharif in his statement at COP27.<\/p>\n\n\n\n

UN Secretary-General Antonio Guterres also urged the international community to \u201cmassively\u201d help flood-hit Pakistan in a joint press briefing with the Pakistani prime minister. \u201cIf there is any doubt about loss and damage, go to Pakistan. There is loss and there is damage,\u201d Guterres told the briefing. He urged that the COP needs to find a clear roadmap, including the creation of an institutional framework and financing to compensate the country.<\/p>\n\n\n\n

Developing and emerging countries except China will need $2 trillion a year by 2030 to cope with climate breakdown, according to the UN-backed report \u2018Finance for Climate Action\u2019.<\/p>\n\n\n\n

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The impacts of climate change are here now, and the loss & damage they cause can no longer be ignored.#COP27<\/a> must agree on a clear, time-bound roadmap reflective of the scale and urgency of the challenge.

It's a moral imperative and a question of solidarity & climate justice pic.twitter.com\/YEJXFd7QFF<\/a><\/p>— Ant\u00f3nio Guterres (@antonioguterres) November 7, 2022<\/a><\/blockquote>