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Today is the third day of the 27th United Nations Climate Change Conference (COP27) in Sharm el-Sheikh, Egypt. Here’s what happened so far:
- John Kerry, the US Special Envoy for Climate Affairs, has unveiled an idea for an “energy transition accelerator” that has received mixed reviews so far.
- Scotland, Austria, Belgium, New Zealand and Germany lead the way, pledging a total of around €240, with ‘loss and damage’ taking center stage One million.
- China’s special climate envoy, Xie Zhenhua, said today that China is willing to contribute to the Loss and Damage Fund. He also reiterated China’s position that the US has “closed the door” to climate talks, but added that “informal talks” are taking place between Beijing and Washington.
- Greenwashing has been condemned by a UN group of experts, calling for a “red line” to ensure integrity in efforts to achieve net zero.
November 10: Science Day
♦ Norwegian energy giant postpones $10 billion oil project
Norwegian state energy company Equinor has postponed plans for the Arctic Wisting field, which was supposed to be the world’s northernmost oil exploration. Delaying this $10 billion project of his could mean it will never materialize, analysts say.
we won! 🎉🎉🎉
Plans for Wisting, the northernmost oil field, are stopped!
this means:
💥 200 million tons of CO2 remain underground
🌊 Vulnerable and precious nature is left alone
💚 Norway can focus on green.— Greenpeace Norge (@GreenpeaceNorge) November 10, 2022
Equinor blamed “increased costs due to rising global inflation” and “uncertainty over project framework conditions” for the delay, but Uplift Director Tessa Khan said activists, campaigners, Like members of the Norwegian Green Party, they see delay as a victory. .
“Even if Equinor decides to drive up costs, this is a win for climate. , plans to develop a huge new oil and gas project,” said Tessa Khan.
♦ COP27 welcomes record number of fossil fuel-related delegations
More than 600 delegates associated with the fossil fuel industry are currently attending COP27, according to a report by Corporate Accountability, Global Witness and Corporate Europe Observatory.
“Global Witness found that more than 600 people at the meeting in Egypt were linked to fossil fuels.
This is more than the delegations of the 10 countries most affected by climate change combined. ”“If you want to fight malaria, don’t invite mosquitoes.”#COP27 https://t.co/n8XUjyXBz3
— Greta Thunberg (@GretaThunberg) November 10, 2022
This represented a 25% increase compared to COP26 held in Glasgow, with the most fossil fuel industry representatives (503) of any county.Only country with more representatives This year’s Sharm El Sheikh The United Arab Emirates (UAE) has 1,070 (UAE had 176 delegates at COP26). read more.
November 9: Climate Finance Day
♦ US announces global carbon credit trading initiative
John Kerry, US Special Envoy for Climate Affairs, said: New carbon credit trading program named “Energy Transition Accelerator” This, he claims, will prove “important” in helping developing countries transition to renewable energy sources.
Initial reactions to the concept were mixed, with one anonymous climate expert labeling the plan “impossible.” read more.
♦ New Zealand pledges $12 million for ‘loss and damage’
New Zealand will allocate NZ$20 million (US$12 million) to address loss and damage in developing countries.
Aotearoa New Zealand 🇳🇿 helps countries address the impact of loss and damage from climate change. #COP27 ongoing in Egypt.
A dedicated allocation of $20 million #Pacific Priority. @Forum SEC https://t.co/CrnP4ZHDZG
— Nanaia Mahuta (@NanaiaMahuta) November 8, 2022
According to Minister of Foreign Affairs Nanaia Mahuta, the country is not opposed to creating a centralized loss and damage fund as it recognizes the need for broader financing arrangements. read more.
♦ China is ready to contribute “loss and damage”.executives say
China’s special envoy for climate, Xie Zhenhua, said China would be happy to help finance “loss and damage.”
Xie Zhenhua said #China Support claims from developing countries, especially those most vulnerable to claiming compensation for loss and damage, which should follow the principle of common but differentiated liability #COP27 pic.twitter.com/dE0OZqEgH4
— Zhang Meifang Zhang Mifang (@CGMeifangZhang) November 9, 2022
Zhenhua said he had privately spoken with US special envoy John Kerry about joint efforts between China and the US to advance the COP27 agenda. He also stresses that it was the United States that “closed the door” to climate negotiations, so it must be the United States that initiates reconciliation with China. read more.
Chinese Xie Zhenhua speaking in #COP27
“Removing barriers is for America. [created by Pelosi’s Taiwan visit]…but I have already started informal contact with John Kerry here…we have already exchanged eight letters [before arriving]…we are old friends. ” pic.twitter.com/D04VWLcmIr
— Leo Hickman (@LeoHickman) November 9, 2022
November 8: “Loss and Damage” Pledge Expands
♦ Austria joins list of countries pledging ‘loss and damage’
Austria follows in Scotland’s footsteps, pledges €50m Address losses and damages for the next four years.
Austria joins Belgium, Denmark, Germany and Scotland in pledging millions of dollars for “loss and damage” from climate disasters.
🇧🇪 2.5 million euros
🏴 7 million pounds
🇩🇰 13.4 million euros
🇦🇹 50 million euros
🇩🇪 €170 millionread more @YaleE360: https://t.co/WlopXxYGNg pic.twitter.com/vVgEmXdFd1
— Yale Environment 360 (@YaleE360) November 9, 2022
Austria’s Climate Minister Leonore Gewessler said “Austria has a responsibility”, addressing calls from the Global South for more advanced countries to provide support. read more.
♦ The new report is CLIMATE FINANCE NEEDED FOR DEVELOPING COUNTRIES
A new report by climate economist Nicholas Stern says that by 2030, developing countries will need about $2 trillion each year to support climate resilience and emissions mitigation.
We today released the report of the Independent High-Level Expert Group on Climate Finance, which I co-chaired with Vera Songwe. This was mandated by her COP26 presidency, #COP27https://t.co/6vgIUediMI
— Nicholas Stern (@lordstern1) November 8, 2022
The report states that “about half of the required funding can reasonably be expected to come from local sources,” but external funding, including bank-provided funds, will be essential. read more.
♦ Scotland allocates millions to finance ‘loss and damage’
At COP26 last year, Scotland became the first European country to commit £2 million to tackle loss and damage caused by climate change.
This year, Scottish Prime Minister Nicola Sturgeon pledged a further £5 million in debt-free grants to help struggling communities in the countries most affected by climate change. read more.
“The funding announced today by Scotland is small in terms of the overall scale of loss and damage facing developing countries, but we hope it sends an important message.”
— Nicola Sturgeon, Prime Minister of Scotland.
♦ Zelensky: Ending war in Ukraine is key to addressing climate
“There can be no effective climate policy without peace.” Ukrainian President Volodym Zelensky said in a virtual speech at the summit:
This is due to the 5 million acres of forest destroyed by the war and the energy crisis caused by the conflict, Zelensky claims, which “has forced dozens of countries to restart coal-fired power generation.” doing. read more.
♦ UN defines and condemns greenwashing
The High-Level Expert Group, established by UN Secretary-General António Guterres, presented a report at the conference aimed at ending greenwashing and ensuring zero-net efforts. .
The Honor of Hosting the United Nations Secretary-General @Antonio GuterresInvitation to Chair the High Level Expert Group on Net Zero Commitments for Non-State Entities, from Businesses to Investors to Cities. Each pledge must deliver ambitious, realistic and immediate reductions in a transparent and verifiable manner. pic.twitter.com/0gZU5wSXfH
— Catherine McKenna (@cathmckenna) March 31, 2022
“The planet cannot afford delays, excuses or any more greenwashing right now,” said Catherine McKenna, chair of the expert group and former Canadian climate minister. read more.
November 7: UN Secretary General Issues Warning
♦ macron calls “Energy Drinking”
president of france, Emmanuel Macron calls for ‘energy drinking’ and continued prioritization of climate Despite the turmoil caused by the war between Russia and Ukraine.
Mr Macron also called for a significant increase in climate finance, especially from the World Bank and the IMF. read more.
♦ Germany and Belgium launch ‘loss and damage’ pledges
Germany and Belgium are contributing €170m and €2.5m respectively for climate-related “loss and damage”. This is something only the Walloon regions of Scotland, Denmark and Belgium have so far promised. read more.
German Chancellor Olaf Scholz has pledged more financial support to countries in the global South to fight climate change. #COP27 pic.twitter.com/Wlr8FwQEzL
— DW Politics (@dw_politics) November 8, 2022
♦ Rishi Sunak says tackling the climate crisis is “the right thing to do”.
In a speech criticized as “lukewarm”, the British prime minister says Britain will honor its climate pledge because it is “morally right”.
This follows a more impassioned speech he gave to the station about how he was tackling immigration. read more.
♦ UN Secretary-General warns: ‘We are on the road to climate hell’
In his opening speech, UN Secretary-General António Guterres said: “Climate Solidarity Pact” After stating, “We are fighting for our lives and we are losing.”
I just warned the world leaders #COP27:
We are stepping on the highway to climate hell.
Our planet is rapidly approaching a tipping point of irreversible climate disruption.
we urgently need #ClimateAction.
— Antonio Guterres (@antonioguterres) November 7, 2022
He also advocated a universal tax on windfall profits of fossil fuel companies to finance “losses and damages.” read more.
Editor’s note: The opinions expressed herein by the author are those of the author and not those of Impactter.com. — Featured photo: State of COP27. Featured photo credits: United Nations Climate Change.
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