SHARM EL-SHEIKH, EGYPT (Reuters) – The UN climate agency released a draft COP27 resolution on Friday that fails to offer a solution to the “loss and damage” issue.
“Loss and damage”, one of the most contentious topics of the summit in Egypt, aims to provide funds to developing countries affected by climatic disasters.
The text, which builds on earlier less formal versions, contains a clause indicating that delegates at the COP27 summit were still seeking consensus on the matter.
Delegates to the 27th UN Climate Summit in Sharm el-Sheikh hope to adopt the new text in the coming days.
The European Union made a proposal late Thursday that would create a special fund to cover loss and damage in the most vulnerable countries, financed by a “broad donor base” from high-emitting emerging economies, such as the China.
Pakistan’s Ambassador to South Korea Nabeel Munir said the EU proposal was “good news”, but some divisions remained.
(Report by William James, French version Dina Kartit, editing by Kate Entringer)
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