World News: Sticking points slow deal-making at COP27 – Gulf Digital News

World News: Sticking points slow deal-making at COP27 – Gulf Digital News

Government ministers and negotiators from nearly 200 countries yesterday began the slog of finding common ground for a deal at the annual UN climate summit, as host country Egypt assured that the slow-moving talks were on track.

Some delegates began to discuss the possibility the summit would go overtime into the weekend, with countries snagged on issues including funding for developing nations to combat and adapt to climate change.

The G77 bloc of developing countries and China are proposing a ‘loss and damage’ fund should be created to provide money to countries already hit by climate disasters, a draft text of their proposal to the COP27 summit showed.

The subject has for the first time made it onto the official COP agenda, after years of resistance from rich nations concerned it could open them up to limitless liabilities for contributing the bulk of historic greenhouse gas emissions.

Egypt’s special representative to the COP27 summit, Wael Aboulmagd, said sticking points remained, but that countries have to strike a deal.

“The future of humanity, without exaggeration, is at stake,” he said. “So we can just push and encourage and use all the tools in our toolbox. But at the end of the day, 190-something sovereigns must agree.”

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