Spanish minister Teresa Ribera said it was a “complicated situation”, with countries pushing for language on ramping down fossil fuels “to be harder”.
Earlier, European sources confirmed “a deal has been reached” on a loss and damage fund for vulnerable countries. Pakistan — struck by devastating heat waves and floods this year — chairs the G77 and China bloc of 134 developing nations, which has campaigned strongly for a fund for loss and damage to be agreed upon at COP27.With around 1.2C of warming so far, the world has seen a cascade of climate-driven extremes in recent months, shining a spotlight on the plight of developing countries faced with escalating disasters, as well as an energy and food price crisis and ballooning debt.
Scientists say this is a far safer guardrail against catastrophic climate impacts, with the world currently far off track and heading for around 2.5C of warming under current commitments and plans. It takes some language from three earlier proposals — from the EU, Britain, and G77 — and appears to kick some of the thornier issues, particularly over the sources of funding, into next year.