SHARM EL SHIEKH, Egypt: The 27th Conference of Parties (COP27) has been extended by a day with an aim to break the deadlock over the issues like a separate fund for loss and damage and mitigation work programmes.
Bhupender Yadav, Minister for Environment Forest and Climate Change, Government of India, informed on Friday, November 18, that the COP27 has been “extended by a day to attempt to take the ongoing negotiations to a logical end”. Yadav informed that negotiations are underway on contentious issues such as adaptation, loss and damage and climate finance.
Frans Timmermans, Chief negotiator for European Union (EU) proposed a plan that tied loss and damage along with emission cuts. On the last day of the conference, talks came to a dead end over the issue of compensatory funds for loss and damage caused by the climate change-induced disaster. EU is demanding that countries should peak their emission by 2025 and then reduce all fossil fuel emissions, not just coal. Another issue that the EU is raising is that big economies like China are not being held liable to contribute to this compensatory fund.