Wealthier nations commit to assisting poorer countries in reducing emissions.

During the closing of the United Nations Climate Change Conference, known as COP27, countries from around the world reaffirmed their dedication to decreasing global emissions and mitigating the impacts of climate change. Over 200 nations agreed to establish a committee aimed at aiding less affluent countries in their efforts to combat climate change.

UN Secretary-General António Guterres expressed his approval of progress made at COP27, stating, “This COP marks a significant move towards fairness. I am pleased about the decision to create a fund for loss and damage.”

John Kerry, the US special presidential envoy for climate change, also welcomed the establishment of mechanisms to address the severe consequences of climate change on vulnerable communities globally, including through a fund focused on providing immediate support to particularly at-risk countries in managing climate impacts.

However, Guterres emphasized the urgency of the situation, highlighting that despite these positive steps, urgent action is still required to sharply reduce emissions. He stressed that while a fund for loss and damage is crucial, it alone is insufficient in the face of catastrophic climate events.

Without decisive commitments to rapidly reduce greenhouse gas emissions, achieving the 1.5°C target is unlikely, posing grave risks to vital ecosystems and countless lives.#COP27

— Greta Thunberg (@GretaThunberg) November 20, 2022

Various delegates echoed Guterres’ concerns regarding the absence of a concrete plan to reduce emissions substantially.

In a speech, British politician and former COP26 representative Alok Sharma pointed out the lack of specific commitments in the text related to achieving emissions peak before 2025, a clear roadmap to phase out coal, and a firm pledge to eliminate all fossil fuels.