UN Secretary-General Antonio Guterres on Thursday urged countries to stop “finger pointing” as the COP27 climate talks draw to a close. Egyptian negotiators said talks, which are due to end on Friday, are likely to go on overnight, as diplomats struggle to reach an agreement.
Germany says China must contribute to a compensation fund rather than benefiting from it.
Developing countries are demanding that a “loss and damage” fund be established to help poorer nations— which are responsible for a significantly smaller share of global CO2 emissions — deal with the consequences of climate change. The Group of 77+ developing countries at the UN, alongside China, proposed the establishment of a global loss and damage fund.
Western countries have criticized China’s position on the proposal, as it does not see itself as a donor with responsibility, despite being the highest greenhouse gas emitter in terms of sheer volume.
German Foreign Minister Annalena Baerbock has demanded China pay more money to help poorer countries deal with climate crises. “It is true that we in Europe and North America as industrialized countries bear the responsibility for the climate damage of the recent past and also most of the present with our fossil-based prosperity,” Baerbock said.
“But all the major emitters of today bear responsibility for the climate damage of the future — all states can now show that they are ready for more ambition and more solidarity,” she added. EU climate chief Frans Timmermans said the EU was open to the proposal, but that it should be discussed among a “mosaic” of options that includes existing financial instruments. A draft proposal on phasing out fossil fuels presented at the COP27 also encourages a “phase-out” of the use of coal, while avoiding mentioning oil and gas.