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EXPLAINED: 15 | Vintage Vibes

Climate change inequity: Who pays?

This year at COP, countries may decide if and how to compensate countries most impacted by climate change

Salon

Anxiety grows over risk to 1.5C: what happened on day seven at Cop27

Indigenous women from the Amazon held a press conference and developing countries criticised the G7’s loss and damage strategy

The Guardian - UK

Climate-focused reform of World Bank could be done in a year, says Al Gore

Former US vice-president says bank should refocus its spending and end its role in ‘fossil fuel colonialism’

The Guardian - UK

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UAE Joins Global Alliance on Green Economy

The UAE cabinet approved the country's joining to the Global Alliance on Green Economy, led by the World Green Economy Organization, which aims to launch programs and initiatives, create sustainable funding, and establish partnerships among developing countries to ensure an effective transition. Emirates News Agency (WAM) reported that joining the…

Asharq Al-Awsat

Water scarcity on agenda as Cop27 climate talks enter second week

Days scheduled to discuss issues such as women’s rights and civil society alongside formal negotiations

The Guardian - UK

Shifting geopolitical sands, dull economy, but will Cop27 skip real tasks for rhetoric again?

The 27th session of the UN conference of parties on climate change mitigation in the Egyptian seaside city of Sharm-el-Sheikh intersects a time when the high table of global diplomacy grapples with the Ukraine war and the energy supply constraints in its wake. Even if it chastens the ambitious tone…

Newslaundry

Biden says U.S. will rise to the global challenge of climate change

The President said the United States is cutting its greenhouse gas emissions, and promised again to give more money to developing countries on the front lines of climate change.

WEKU

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U.N. talks not ready to agree climate compensation fund, EU says

Talks about how to compensate vulnerable countries for the damage caused by climate change are not ready to agree on a funding mechanism, a European Union negotiator said on Friday, but did not exclude progress on the issue at COP27.

Reuters

How the energy crisis is pressuring countries at the UN climate summit – while some race to renewables, others see natural gas wealth, but it may be short-lived

Russia’s war on Ukraine has cast a shadow over this year’s United Nations climate summit in Sharm el-Sheikh, Egypt, where officials from around the world are discussing the costs of climate change and how to cut emissions that remain near record highs.

The Conversation

Sharm el-Sheikh Climate Summit Launches ‘Guide to Fair Finance’

The 2022 UN Climate Change Conference (COP27) witnessed the launch of the Sharm el-Sheikh Guide to Fair Finance – an international framework that seeks to address challenges facing developing countries and emerging economies, especially African states, and help them obtain financing to achieve their ambitions in the climate agenda. The…

Asharq Al-Awsat

Rich countries shouldn’t balk at climate spending – it will soon pay for itself

‘Loss and damage’ finance for developing nations and domestic support for clean energy industries may be politically difficult – but they are necessary investments

The Guardian - AU

It’s the big issue of COP27 climate summit: poor nations face a $1 trillion ‘loss and damage’ bill, but rich nations won’t pay up

The costs of climate-related disasters are growing and the poorest countries are bearing the brunt of impacts, from the unprecedented floods in Pakistan to the expanding famine in Somalia. Natural disasters in 2022 alone cost the global economy an estimated US$227 billion.

The Conversation

US introduces new carbon trading scheme to boost investment in developing countries

Critics question plan’s effectiveness in dealing with climate emergency and its potential to greenwash polluters’ reputations

The Guardian - US

China’s top climate official urges US to ‘clear barriers’ to talks

US-China relations hit new low this year after Nancy Pelosi visited Taiwan, over which China claims sovereignty

The Guardian - UK

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Reuters

U.S. climate envoy Kerry launches carbon offset plan

U.S. climate envoy John Kerry on Wednesday announced the creation of a carbon offset plan meant to help developing countries speed their transition away from fossil fuels.

WEKU

Investors have trillions to fight climate change. Developing nations get little of it

Private investment is crucial to addressing climate change. But a big barrier to private investment in developing countries is the perception that risks are higher than in industrialized nations.

The Guardian - UK

Climate finance and human rights fears: what happened on day two of Cop27?

Deep chasm emerges between long-time polluting rich states and developing countries on second full day of summit

Reuters

New Zealand allocates $12 million to fund climate damage in developing nations

The New Zealand government said on Wednesday it was allocating NZ$20 million ($12 million) of climate funding to address loss and damage in developing countries.

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Evening Standard

Scotland is making real progress, says Sturgeon at Cop27

First Minister Nicola Sturgeon said Scotland was "making real progress" on reducing emissions, as she spoke at a New York Times event at the Cop27 climate summit.At the summit Ms Sturgeon said the Scottish Government would commit £5 million to help developing countries mitigate the "gender impact of loss and…

The Guardian - UK

First Thing: Biden makes final plea in high stakes midterms

The Democrats could lose their majorities in both chambers today. Plus, developing countries ‘need $2tn a year in climate funding’

The Conversation

COP27: how responsible are industrialised countries for climate change?

The United Nation’s 27th annual climate summit, COP27, opened on Monday in Sharm el-Sheikh, Egypt. The event, which should pressure governments into ramping up their decarbonisation pledges, will be the first to put the issue of financial compensation for damages suffered by developing countries at the top of the agenda.…

Reuters

COP27: Austria commits $50 million for climate 'loss and damage'

Austria will provide 50 million euros (dollars) to developing countries facing unavoidable damage and losses caused by climate change as it joins a small group of European nations to offer such funds, the country’s climate ministry told Reuters.

Evening Standard

COP27: What are climate change ‘loss and damage’ reparations and who should pay?

The phrase refers to the cost, both economic and physical, that developing countries are facing from the extreme impacts of climate change.

Reuters

Developing countries need $1 trillion a year in climate finance -report

Developing countries need to work with investors, rich countries and development banks to secure $1 trillion a year in external financing for climate action by the end of the decade and to match that with their own funds, a report said on Tuesday.

The Guardian - UK

Developing countries ‘will need $2tn a year in climate funding by 2030’

Report co-written by Nicholas Stern says figure required to switch away from fossil fuels and cope with extreme weather impacts

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