This article originally appeared in Folk Transmission on November 7, 2022. It is shared here under a Creative Commons 4.0 (CC BY-SA) license.

More than 45,000 people from 196 countries, including 120 heads of state, gather in Egypt’s city of Sharm El-Sheikh as the 27th edition of the Conference of Parties to the United Nations Framework Convention on Climate Change, or COP27, kicked off on Sunday, Nov. 6.

“We are meeting this year at a time when global climate action is at a turning point,” Egyptian Foreign Minister and COP27 President Sameh Shoukry said as the country took over the leadership of the summit from the UK.

“Multilateralism is being challenged by geopolitics, rising prices and growing financial crises, while several countries hit by the pandemic have barely recovered, and severe and debilitating disasters from climate change are becoming more common.”

The two-week conference had a delayed start amid negotiations over the agenda that stretched into Sunday morning.

For decades, vulnerable countries have been demanding reparations from the global north to address the historic and ongoing damage from colonialism, capitalism and imperialism that have placed much of the global south at the forefront of the climate crisis.

An important result, however, is that for the first time in its history, the COP will tackle the financing of loss and damage: and damage,” has been including under item 8(f) of the agenda.

This follows a proposal submitted on behalf of the G77+China by Pakistan, which is recovering from devastating floods that killed more than 1,700 people and flooded a third of its territory.

For decades, vulnerable countries have been demanding reparations from the global north to address the historic and ongoing damage from colonialism, capitalism and imperialism that have placed much of the global south at the forefront of the climate crisis.

A group of 16 countries led by Vanuatu are also seeking an “advisory opinion” from the International Court of Justice on the legal obligations of all countries to prevent and remedy the adverse effects of the climate crisis.

Meanwhile, the global north has consistently curtailed all efforts to address loss and damage in a meaningful way. Have existing frameworks on the matter focused

on “collaboration and facilitation” on “increasing knowledge, coherence, action and support”.

Areas of “cooperation and facilitation” under the Paris Agreement included emergency preparedness, slow-moving events, non-economic losses and the resilience of communities, livelihoods and ecosystems.

There is no mention of financing.

At COP26, a demand to create a loss and damage fund was blocked by the US and the European Union and eventually watered down to a decision to have a “dialogue” on “loss financing arrangements”. prevent, minimize and address and damage.”

Before this dialogue has even begun, the global north has once again undermined its potential outcome, to protect itself from liability – Shoukry clarified at the opening ceremony that the outcomes of the discussions would be based on “cooperation and facilitation and no liability or compensation”.

It would also “start a process to make a final decision by 2024.”

The Global North has not only refused to commit to loss and damage compensation, it has not even met existing financing targets set out in international agreements.

MANIPULATION AND SMALL IN CLIMATE FINANCE

In 2009, rich countries agreed to provide $100 billion annually in funding to help vulnerable countries respond to climate change. This goal has been consistently missed. Not only that, analysis has found it

that responsible countries have deliberately used misleading accounting to misrepresent climate finances, inflating their contributions to vulnerable countries by up to 225%.

The public climate finance rating provided in 2020 was $68.3 billion, alongside another $15 billion in private financing and export credits, well below the $100 billion pledged. Oxfam has found that the ‘true value’ of the funds provided is between $21-24.5 billion.

At the same time, more than 70% of public climate finance is borrowed, leaving poorer countries even more indebted. For Senegal, 85% of its climate finance was in the form of loans, or rather debt.

Related Post

The Global North has not only refused to commit to loss and damage compensation, it has not even met existing financing targets set out in international agreements.

Meanwhile, Carbon Brief’s latest analysis has: revealed the extent to which rich countries fail to meet the $100 billion pledge. The US is responsible for 52% of the historical emissions of rich and industrialized countries. Accordingly, Carbon Brief states that it must contribute $39.9 billion to its annual commitment.

In reality, the US provided less than $8 billion in funding in 2020, the last year for which data is available. Countries like Canada, the UK and Australia also failed to pay their proportionate share, leaving them $1.4 to $3.3 billion short.

“NO CREDIBLE ROAD TO 1.5C”

Just as COP27 kicked off, the UN World Meteorological Organization (WMO) released its interim report “Global State of the Climate,” ahead of its final publication in April 2023. The WMO found the past eight years were the warmest. ever measured. It added that the global average temperature this year would be 1.15C above pre-industrial levels.

Sea levels are rising twice as fast as in 1993 and the presence of carbon dioxide, nitrous oxide and methane in the atmosphere has reached record levels.

If fossil fuel giants like Shell, BPand Total Energies rake in billions capitalizing on the cost of living crises affecting people around the world, the UN Environment Agency has warned there is “no credible path to 1.5C”. Even if current pledges for action by 2030 are fully met, global temperature rise will still reach 2.5C, accelerating catastrophic climate events.

Since COP26, only 29 of the 194 countries have presented new National Action Plans, and even then the updated commitments will only remove about 1% less emissions in 2030. The size of the actual cuts needed to achieve the 1.5C target is 50%.

Since COP26, only 29 of the 194 countries have presented new National Action Plans, and even then the updated commitments will only remove about 1% less emissions in 2030. The size of the actual cuts needed to achieve the 1.5C target is 50%.

Meanwhile, by 2030, the CO2 emissions of the richest 1% of the world’s population will reach exceed the level compatible with the 1.5C threshold by 30 times. In eight years, an estimated 132 million people will pushed into extreme poverty as a result of the climate crisis. According to the World Health Organization, between 2030 and 2050, a Additionally Every year 250,000 people will die from malnutrition, malaria, diarrhea and heat stress.

Research has shown that extreme heat disproportionate increase death rates in poorer countries.

According to such analyses, there are millions of people who simply do not have the ability to think of the climate crisis as something that will affect them 20, or eight, or even a year in the future.

“YOU NEED TO WORRY ABOUT NOW”

“What future?” historian and journalist Vijay Prashad had early at the People’s Summit for Climate Justice, held on the sidelines of the official COP26, “Children in the African continent, in Asia, in Latin America, they have no future, they have no gift … you have to worry about now. ”

“2.7 billion people can’t eat right now and you’re telling people to reduce their consumption. How does it sound to a child who hasn’t eaten in days?”

Among the 38.7 million people in Pakistan, Nigeria, India, Chad and South Sudan were 19 million children affected due to flooding between August and October 2022. Countries in East Africa face worst drought in decades – in Somalia 6.7 million people are at risk of acute food insecurity, of which more than 300,000 are expected to face famine by the end of 2022.

Overall, Carbon Brief has found that extreme weather conditions murdered at least 4,000 people and so far in 2022 alone another 19 million people across Africa. More than 70% of the world’s refugees come from countries most vulnerable to climate change, including Afghanistan, the Democratic Republic of the Congo, Yemen and Syria. It is also important to note that most of these countries have also experienced years of imperialist intervention and war.

“2.7 billion people can’t eat right now and you’re telling people to reduce their consumption. How does it sound to a child who hasn’t eaten in days?”

Vijay Prashad, historian and journalist

West Asia and North Africa are warming at a rate double the global average. Severe wildfires have raged from Algeria, to Australia, to the US.

The Philippines, which sees an average of 20 storms and typhoons each year, was just hit by Tropical Storm Nalgae, which killed more than 100 people and caused widespread flooding and landslides. Parts of Latin America have been hit by multiple hurricanes in quick succession.

As several heads of state prepare for closed-door meetings and public speeches at COP27 between November 7 and 8, any commitment to address the climate crisis at its core must recognize disproportionate vulnerabilities and inequalities.