COP27 climate talks reach crunch time with big rifts remaining

SHARM EL-SHEIKH, (Egypt): UN Secretary-General Antonio Guterres urged world governments to “stand and deliver” a strong climate deal at the COP27 summit in Egypt on Thursday as negotiators remained far apart on key issues a day before the agreement’s deadline.

The two-week conference at the seaside resort town of Sharm el-Sheikh is a test of global resolve to combat global warming as governments around the world are buffeted by crises ranging from a land war in Europe to sky-high consumer costs.

“Global emissions are at their highest level in history – and rising. Climate impacts are decimating economies and societies – and growing. We know what we need to do – and we have the tools and resources to get it done,” Guterres told the conference.

“I am here to appeal to all parties to rise to this moment and to the greatest challenge facing humanity. The world is watching and has a simple message: stand and deliver.”

“We are at crunch time in the negotiations.”

The first draft of a deal, released Thursday morning, would keep a target of limiting global warming to 1.5 degrees Celsius, but leaves many of the most contentious issues in the talks unresolved ahead of the Friday deadline.

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Among the most disputed points is whether to set up new fund that would benefit poor countries already feeling the impact of climate-driven storms, floods, droughts and wildfires - a key demand of developing nations.

The 20-page draft for a hoped-for final agreement “welcomes” the fact that delegates had for the first time begun discussions on the so-called loss and damage fund, but provided no details on the path forward to setting one up.

“If we can’t agree on loss and damage, then I think this COP will not be a successful COP,” said Nabeel Munir, a diplomat from flood-ravaged Pakistan and the lead negotiator for the G77 group of countries.

Wealthy nations, including the United States, have opposed creating a new loss and damage fund, fearing it could expose them to limitless liability for their historic contribution to greenhouse gas emissions.

In his speech, Guterres said he hopes to see negotiators bridge their differences on loss and damage in a way that reflects the “urgency, scale and enormity of the challenge faced by developing countries.”