Climate ‘loss and damage’ talks end in failure

Climate ‘loss and damage’ talks end in failure
Climate ‘loss and damage’ talks end in failure

Hello and welcome to the details of Climate ‘loss and damage’ talks end in failure and now with the details

Nevin Al Sukari - Sana'a - The climate ‘loss and damage’ talks end in failure in Paris. - Reuters pic

PARIS, Oct 21 — A crucial meeting on climate “loss and damages” ahead of COP28 ended in failure today, with countries from the global north and south unable to reach an agreement, according to sources involved in the talks.

The agreement to set up a dedicated fund to help vulnerable countries cope with climate “loss and damage” was a flagship achievement of last year’s COP27 talks in Egypt.

But countries left the details to be worked out later.

A series of talks held this year have tried to tease out consensus on fundamentals like the structure, beneficiaries and contributors — a key issue for richer nations who want China to pay into the fund.

Advertisement

A transition committee on the establishment of the fund met late yesterday and into today in Aswan, in southern Egypt.

But the delegates were unable to reach an agreement and deferred the decision to another meeting due November 3 to 5 in the United Arab Emirates, according to a webcast of the debate on the official YouTube channel of the United Nations.

Ahead of the breakdown, the discussion hit a hurdle over where the funds should be held.

Advertisement

There was a divide over it being managed by the World Bank, accused of being in the hands of the West, or in a new independent structure, called for by many developing nations, but would be time consuming and complex to replenish with new funds.

The failure “is a clear indication of the deep chasm between rich and poor nations”, Harjeet Singh, head of global political strategy for Climate Action Network International, said in a statement to AFP today.

“Developed countries must be held accountable for their shameless attempts to push the World Bank as the host of the fund, their refusal to discuss the necessary scale of finance, and their blatant disregard for their responsibilities” under the terms of already established international climate agreements, he said.

Rachel Cleetus with the Union of Concerned Scientists said that “today’s disappointing outcome is a blow to communities... facing an unrelenting onslaught of climate impacts”.

“The United States and other rich countries seem more focused on evading or minimizing their responsibility than engaging in good faith negotiations,” she added. — AFP

These were the details of the news Climate ‘loss and damage’ talks end in failure for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Malay Mail and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

PREV Last UNRWA food convoy into northern Gaza was over a month ago, agency chief warns
NEXT Israel war cabinet meets over Hamas hostage talks

Author Information

I am Jeff King and I’m passionate about business and finance news with over 4 years in the industry starting as a writer working my way up into senior positions. I am the driving force behind Al-KhaleejToday.NET with a vision to broaden the company’s readership throughout 2016. I am an editor and reporter of “Financial” category. Address: 383 576 Gladwell Street Longview, TX 75604, USA Phone: (+1) 903-247-0907 Email: [email protected]