COP27: Deal on climate costs reached but no advancement with fossil fuels

By: Andreea Dibo, Health & Environment, The Pawprint

As the UN’s COP27 summit comes to a close, negotiations in Sharm el-Sheikh, Egypt, this year nearly failed and stretched over by two days and a historic agreement was reached that will see wealthy nations pay poor countries for the harm and economic losses brought on by climate change.

Nations dealing with severe climate impacts have been waiting for it for almost 30 years.

Commitments to “phase down” or minimize the usage of fossil fuels were not included in the overall agreement that was reached. Industrialized nations departed disappointed with no progress made in reducing fossil fuel use.

Rishi Sunak, Prime Minister of the UK acknowledged the advancements made at COP27. But also stated “more must be done” to address climate change.