Compensating those affected by climate change is on the COP27 agenda.
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In an early victory for negotiators, an agreement was reached early in talks to put the issue of compensating poor nations suffering severe losses from climate change on the official agenda.
Egyptian Foreign Minister Sameh Shoukry said: “This in itself is a positive development that we should welcome. What happens next depends on the flexibility of the parties.”
“As a presidency, we will certainly provide an opportunity on the agenda to make as much progress as possible on this and we hope to have a satisfactory space for all parties,” he added.
Egypt relies heavily on fossil fuels to meet its energy needs. The hosting of the annual climate talks helped seal several deals to promote renewable energy deployment, something Shoukry said the government has an obligation to expand. As in many developing countries, the high cost of financing.
US President Joe Biden is expected to stop at the climate talks in Sharm El-Sheikh today on his way to the Group of Twenty. Shoukry says he understands the US President’s stoppage in Sharm el-Sheikh “is a sign of political will to move the process forward” in dealing with global warming.
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