Dignitaries at the Egyptian port of Sharm El-Sheikh Sunday concurred on the opening day of the UN Conference of the Parties (COP27) Climate Summit on the need to discuss compensation by the world's wealthier nations for damages stemming from practices that were detrimental to the environment and have thus prompted the current climate change crisis.
US President Joseph Biden Monday said the COP26 climate summit in Glasgow should mark the starting point of a decade of ambition and innovation to fight climate change, which he believed is an existential threat. The summit is often billed as essential to putting the landmark 2015 Paris climate accord into action.
France seems to have achieved an unachievable triumph: uniting the world to seal a global climate pact. The Paris climate agreement, adopted on Saturday, was the culmination of more than a year of intense diplomatic efforts by France. Delegates and foreign dignitaries cheered Foreign Minister Laurent Fabius, the host of the two-week talks, and gave him a standing ovation.
A further sharp downturn in emerging market economies and world trade has weakened global growth to around 2.9% this year – well below its long-term average – and is a source of uncertainty for near-term prospects, the Organization for Economic Co-operation and Development (OECD) said on Monday.
By Lord Hunt & Terry Townshend - We have learnt to expect surprises at UN climate change summits. At Durban, a year ago, there was the unexpected, but welcome, agreement to begin negotiations on a new legally binding instrument involving all major emitters of greenhouse gases, to be finalised by 2015, and to take effect in 2020.