The 27th Conference of Parties (COP27) has begun in the Egyptian resort city of Sharm el-Sheikh, with leaders from over 100 countries in attendance to discuss climate change, the planet’s most serious threat to survival.
While the summit is expected to keep the dreams of limiting the temperature to 1.5 degrees Celsius and compensating poor nations for mounting climate damages.
Governments hope to keep a goal of averting the worst effects of global warming alive even as a slew of crises, ranging from a land war in Europe to rampant inflation, divert international attention. On the first day of ‘high-level’ international climate talks, nearly 50 heads of state or governments will take the stage on Monday.
India has welcomed the adoption of the COP27 agenda item Loss and Damage, which describes rich countries paying out funds to assist poor countries in dealing with the consequences of global warming for which they bear little responsibility.
High-income countries, including the United States and the European Union, voted down a proposal for a loss and damage financing body at COP26 last year in Glasgow, instead opting for a three-year funding dialogue.
‘Adaptation funding is highly inadequate and loss and damage funding have been almost negligible. Taking note of the situation, India along with other countries had been pursuing adoption of an agenda item on Loss and Damage finance. With the inclusion of this agenda item, India will be engaging constructively and actively on the subject during the course of discussions at COP27 and hoping that fair negotiations on Loss and Damage follow,’ Minister for Environment, Forest & Climate Change, Bhupendra Yadav said.