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COP27 climate conference progress

At last year’s summit, COP26, in Glasgow, countries agreed to “phase down” coal. At one point during this year’s negotiations countries were discussing expanding that to include oil and gas. The issue of loss and damage has been highly controversial. Richer nations have previously not wanted to agree to a new fund as they thought it would make them liable to cover all economic losses from climate change. Previously, these countries have only received money for mitigation efforts to move away from fossil fuels, and adaptation. This is money to prepare for the future impacts of climate change. For the first time countries agreed to establish a “loss and damage” fund. This will be a pot of money to help poorer nations recover from the impacts of climate change. What more need to be done to mitigate the effect of climate change ?

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