<p>Even as many lamented its lack of ambition in combating the emissions, governments concluded this year's United Nations climate summit known as Cop27 on Sunday with a hard-fought agreement to establish a fund to assist developing&nbsp;countries devastated by climate disasters.&nbsp;</p>

<p>The agreement for the so-called 'loss and damage fund' was largely praised as a victory for addressing the catastrophic effects of global warming on vulnerable nations. However, many nations claimed they were under pressure to abandon stricter promises to keep global warming to 1.5 degrees Celsius in order for the historic agreement on the fund to be implemented.&nbsp;</p>

<p><strong>Biggest polluters</strong></p>

<p>The agreement for a loss and damage fund represented a diplomatic victory for the small island countries&nbsp;in persuading the 27-nation European Union and the United States to support the idea after they had long opposed it out of concern that it might subject them to legal liability for historical emissions.</p>

<p>The United States emerges as the biggest polluter when cumulative emissions are calculated as the sum of annual emissions from 1750 to 2021.</p>

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<p><strong>Polluter must pay</strong></p>

<p>Prime Minister Gaston Browne of Antigua and Barbuda, speaking on behalf of small island states said, “We all know that the People’s Republic of China, India — they are major polluters, and the polluter must pay. I don’t think there is any free pass for any country, and I don’t say this with any acrimony.”&nbsp;</p>

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<p><strong>India will not pay</strong></p>

<p>At the conclusion of the year's most significant climate meeting, Union Minister for Environment, Forest, and Climate Change Bhupender Yadav reportedly said&nbsp;that there was no question of India contributing any funds to the proposed loss and damage fund&nbsp;because it is&nbsp;the responsibility of developed countries. He also added&nbsp;that India, one of the nations most negatively impacted by climate change, would rather seek funds for mitigation.</p>

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<p><strong>Per capita emissions&nbsp;</strong></p>

<p>Figures for annual emissions are frequently used to contrast nations' contributions to climate change. But these&nbsp;statistics often reflect regional variations in population size. This graph displays per capita emissions to illustrate the average person's 'footprint' country-wise.</p>

<p>Indian average per capita emissions are 1.93 tonnes, which is around 7 times less than the United States, which stands&nbsp;at 14.86 tonnes, and 4 times less than China's, which stands&nbsp;at 8.05 tonnes in 2021.</p>

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<p><strong>The way forward</strong></p>

<p>With the loss and damage fund, UN leader Antonio Guterres said the negotiations had "taken an important step towards justice," but had fallen short of addressing&nbsp;the urgent carbon-cutting needed to combat global warming since global greenhouse gas emission cuts&nbsp;remained a contentious issue during Cop27.&nbsp;</p>

<p>According to Guterres, "Our planet is still in the emergency room. We need to drastically reduce emissions now and this is an issue this COP did not address."</p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1  width=&quot;100%&quot;"></iframe></p>


Even as many lamented its lack of ambition in combating the emissions, governments concluded this year's United Nations climate summit known as Cop27 on Sunday with a hard-fought agreement to establish a fund to assist developing countries devastated by climate disasters.

Even as many lamented its lack of ambition in combating the emissions, governments concluded this year's United Nations climate summit known as Cop27 on Sunday with a hard-fought agreement to establish a fund to assist developing countries devastated by climate disasters. The agreement for the so-called 'loss and damage fund' was largely praised as a victory for addressing the catastrophic effects of global warming on vulnerable nations. However, many nations claimed they were under pressure to abandon stricter promises to keep global warming to 1.5 degrees Celsius in order for the historic agreement on the fund to be implemented. Biggest polluters The agreement for a loss and damage fund represented a diplomatic victory for the small island countries in persuading the 27-nation European Union and the United States to support the idea after they had long opposed it out of concern that it might subject them to legal liability for historical emissions. The United States emerges as the biggest polluter when cumulative emissions are calculated as the sum of annual emissions from 1750 to 2021. × Polluter must pay Prime Minister Gaston Browne of Antigua and Barbuda, speaking on behalf of small island states said, “We all know that the People’s Republic of China, India — they are major polluters, and the polluter must pay. I don’t think there is any free pass for any country, and I don’t say this with any acrimony.” × India will not pay At the conclusion of the year's most significant climate meeting, Union Minister for Environment, Forest, and Climate Change Bhupender Yadav reportedly said that there was no question of India contributing any funds to the proposed loss and damage fund because it is the responsibility of developed countries. He also added that India, one of the nations most negatively impacted by climate change, would rather seek funds for mitigation. × Per capita emissions Figures for annual emissions are frequently used to contrast nations' contributions to climate change. But these statistics often reflect regional variations in population size. This graph displays per capita emissions to illustrate the average person's 'footprint' country-wise. Indian average per capita emissions are 1.93 tonnes, which is around 7 times less than the United States, which stands at 14.86 tonnes, and 4 times less than China's, which stands at 8.05 tonnes in 2021. × The way forward With the loss and damage fund, UN leader Antonio Guterres said the negotiations had "taken an important step towards justice," but had fallen short of addressing the urgent carbon-cutting needed to combat global warming since global greenhouse gas emission cuts remained a contentious issue during Cop27. According to Guterres, "Our planet is still in the emergency room. We need to drastically reduce emissions now and this is an issue this COP did not address."

Data Lab | COP27: Should India contribute to 'loss and damage' fund?

<p>At the COP27 climate conference early on Sunday (November 20), nations signed a contentious final deal that establishes a fund to aid impoverished nations suffering from climate catastrophes but does not step up efforts to reduce the emissions that cause them. After difficult talks that lasted all night, the Egyptian COP27 chair made the final language of the agreement public and convened a plenary meeting to swiftly approve it.</p>

<p>Final declaration&nbsp;and historic agreement on "loss and damage" from climate change are the two primary texts adopted by the delegates.&nbsp;</p>

<p>Here are the key takeaways from the two papers, which outline promises on greenhouse gas emissions, global warming, and energy as well as funds to assist developing nations in coping with the terrible effects of climate change.</p>

<p><strong>Also WATCH |&nbsp;COP27: UN Climate Change Conference adopts ‘Loss and Damage’ fund</strong></p>

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/cop27-un-climate-change-conference-adopts-loss-and-damage-fund-535827/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

<h2><strong>Final declaration</strong></h2>

<p><strong>Reductions in emissions</strong></p>

<p>COP27 "emphasises the urgent need for immediate, deep, quick and sustained reductions in global greenhouse gas emissions," which contribute to global warming.</p>

<p>Antonio Guterres, the secretary-general of the UN, lamented a failure to "dramatically decrease emissions today."</p>

<p><strong>Warming objectives</strong></p>

<p>The final statement reiterates the Paris Agreement's temperature target of keeping the rise in the world's average temperature to well below two degrees Celsius over pre-industrial levels and pushing initiatives to keep it to 1.5C.</p>

<p>Resolving to continue efforts to keep the temperature increase to 1.5C, it also "reiterates that the repercussions of climate change will be significantly lesser at the temperature increase of 1.5C compared with 2C."</p>

<p><strong>Energy</strong></p>

<p>Parties are urged by COP27 to "accelerate...efforts towards the phase-out of wasteful fossil fuel subsidies and the phase-down of unabated coal power."</p>

<p>Instead of only mentioning subsidies, some nations attempted to discuss lowering the usage of oil and natural gas.</p>

<p>Emissions from coal-fired power plants that are "unabated" are those that are not syphoned off to keep them from entering the atmosphere.</p>

<p>Additionally, the document asks for quickening "fair and sustainable transitions to renewable energy."</p>

<p><strong>Loss and damage</strong></p>

<p>Parties "decide to establish new finance arrangements for aiding developing countries in responding to loss and damage, including by giving and assisting in mobilising new and additional resources."</p>

<p>Additionally, they "decide to establish a fund for addressing loss and damage."</p>

<p>The rules for the new financial arrangements will be laid down by "a transitory committee," and the "sources of money" will be determined.</p>

<p>The committee's suggestions would be made available "for deliberation and adoption" at the COP28 conference in Dubai the following year.</p>

<h2><strong>How is the world reacting?</strong></h2>

<p>The "loss and damage" fund established at the&nbsp;climate summit in Egypt, to aid vulnerable nations in coping with the devastating effects of climate change garnered praise but&nbsp;there was also resentment about the inability to continue to fight for emission reductions in order to maintain the aspirational target of keeping global warming to 1.5 degrees Celsius over pre-industrial levels.</p>

<p>These are a few of the responses:</p>

<p><strong>UN Secretary-General Antonio Guterres:</strong></p>

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<p dir="ltr" lang="en"><a href="https://twitter.com/hashtag/COP27?src=hash&amp;ref_src=twsrc%5Etfw">#COP27</a> has taken an important step towards justice.<br />
<br />
I welcome the decision to establish a loss and damage fund and to operationalize it in the coming period.<br />
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Clearly this will not be enough, but it is a much-needed political signal to rebuild broken trust. <a href="https://t.co/5yhg5tKXtJ">pic.twitter.com/5yhg5tKXtJ</a></p>
— António Guterres (@antonioguterres) <a href="https://twitter.com/antonioguterres/status/1594181881771212802?ref_src=twsrc%5Etfw">November 20, 2022</a></blockquote>
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<p><strong>Also read |</strong>&nbsp;<a href="https://www.wionews.com/world/disgruntled-un-chief-antonio-guterres-calls-out-cop27-for-failing-to-meet-ambitions-535726">UN secretary-general Antonio Guterres calls out COP27 for failing to meet ambitions</a></p>

<p><strong>Egyptian Foreign Minister Sameh Shoukry,&nbsp;COP27&nbsp;chairman:</strong></p>

<blockquote>
<p>"My friends, we heard the call and we responded."</p>

<p>"Millions around the globe can now sense some glimmer of hope that their suffering will finally be addressed appropriately."</p>
</blockquote>

<p><strong>Fijian Prime Minister Frank Bainimarama:</strong></p>

<blockquote>
<p>"From the bottom of my heart, vinaka vakalevu (thank you very much) to our tireless Pacific negotiators for securing a loss and damage fund at&nbsp;<strong>COP27</strong>."</p>

<p>"You represent those who stand to lose the most to this crisis, and you have fought the hardest to see climate justice delivered."</p>
</blockquote>

<p><strong>Alok Sharma, chairman of Britain's COP26 presidency:</strong></p>

<blockquote>
<p>"Emissions peaking before 2025, as the science tells us, is necessary. Not in this text. Clear follow-through on the phase-down of coal. Not in this text. A clear commitment to phase out all fossil fuels. Not in this text. And the energy text, weakened, in the final minutes.</p>

<p>"Each of us will have to explain that, to our citizens, to the world's most vulnerable countries and communities, and ultimately to the children and grandchildren to whom many of us now go home."</p>
</blockquote>

<p><strong>French Energy Minister Agnes Pannier-Runacher:</strong></p>

<blockquote>
<p>"The&nbsp;<strong>COP27</strong>&nbsp;agreement may not meet the ambitions of France and the European Union, but it preserves the most vital thing: It underlines the aim of limiting global warming to 1.5C and urges countries to make extra efforts from 2023."</p>
</blockquote>

<p><em>(With inputs from agencies)</em></p>

<p><strong>WATCH WION LIVE HERE:</strong></p>

<p><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed" style="width:100%;max-width:560px;" width="560"></iframe></p>


At the COP27 climate conference early on Sunday (November 20), nations signed a contentious final deal that establishes a fund to aid impoverished nations suffering from climate catastrophes but does not step up efforts to reduce the emissions that cause them.

At the COP27 climate conference early on Sunday (November 20), nations signed a contentious final deal that establishes a fund to aid impoverished nations suffering from climate catastrophes but does not step up efforts to reduce the emissions that cause them. After difficult talks that lasted all night, the Egyptian COP27 chair made the final language of the agreement public and convened a plenary meeting to swiftly approve it. Final declaration and historic agreement on "loss and damage" from climate change are the two primary texts adopted by the delegates. Here are the key takeaways from the two papers, which outline promises on greenhouse gas emissions, global warming, and energy as well as funds to assist developing nations in coping with the terrible effects of climate change. Also WATCH | COP27: UN Climate Change Conference adopts ‘Loss and Damage’ fund Final declaration Reductions in emissions COP27 "emphasises the urgent need for immediate, deep, quick and sustained reductions in global greenhouse gas emissions," which contribute to global warming. Antonio Guterres, the secretary-general of the UN, lamented a failure to "dramatically decrease emissions today." Warming objectives The final statement reiterates the Paris Agreement's temperature target of keeping the rise in the world's average temperature to well below two degrees Celsius over pre-industrial levels and pushing initiatives to keep it to 1.5C. Resolving to continue efforts to keep the temperature increase to 1.5C, it also "reiterates that the repercussions of climate change will be significantly lesser at the temperature increase of 1.5C compared with 2C." Energy Parties are urged by COP27 to "accelerate...efforts towards the phase-out of wasteful fossil fuel subsidies and the phase-down of unabated coal power." Instead of only mentioning subsidies, some nations attempted to discuss lowering the usage of oil and natural gas. Emissions from coal-fired power plants that are "unabated" are those that are not syphoned off to keep them from entering the atmosphere. Additionally, the document asks for quickening "fair and sustainable transitions to renewable energy." Loss and damage Parties "decide to establish new finance arrangements for aiding developing countries in responding to loss and damage, including by giving and assisting in mobilising new and additional resources." Additionally, they "decide to establish a fund for addressing loss and damage." The rules for the new financial arrangements will be laid down by "a transitory committee," and the "sources of money" will be determined. The committee's suggestions would be made available "for deliberation and adoption" at the COP28 conference in Dubai the following year. How is the world reacting? The "loss and damage" fund established at the climate summit in Egypt, to aid vulnerable nations in coping with the devastating effects of climate change garnered praise but there was also resentment about the inability to continue to fight for emission reductions in order to maintain the aspirational target of keeping global warming to 1.5 degrees Celsius over pre-industrial levels. These are a few of the responses: UN Secretary-General Antonio Guterres: #COP27 has taken an important step towards justice. I welcome the decision to establish a loss and damage fund and to operationalize it in the coming period. Clearly this will not be enough, but it is a much-needed political signal to rebuild broken trust. pic.twitter.com/5yhg5tKXtJ — António Guterres (@antonioguterres) November 20, 2022 × Also read | UN secretary-general Antonio Guterres calls out COP27 for failing to meet ambitions Egyptian Foreign Minister Sameh Shoukry, COP27 chairman: "My friends, we heard the call and we responded." "Millions around the globe can now sense some glimmer of hope that their suffering will finally be addressed appropriately." Fijian Prime Minister Frank Bainimarama: "From the bottom of my heart, vinaka vakalevu (thank you very much) to our tireless Pacific negotiators for securing a loss and damage fund at COP27." "You represent those who stand to lose the most to this crisis, and you have fought the hardest to see climate justice delivered." Alok Sharma, chairman of Britain's COP26 presidency: "Emissions peaking before 2025, as the science tells us, is necessary. Not in this text. Clear follow-through on the phase-down of coal. Not in this text. A clear commitment to phase out all fossil fuels. Not in this text. And the energy text, weakened, in the final minutes. "Each of us will have to explain that, to our citizens, to the world's most vulnerable countries and communities, and ultimately to the children and grandchildren to whom many of us now go home." French Energy Minister Agnes Pannier-Runacher: "The COP27 agreement may not meet the ambitions of France and the European Union, but it preserves the most vital thing: It underlines the aim of limiting global warming to 1.5C and urges countries to make extra efforts from 2023." (With inputs from agencies) WATCH WION LIVE HERE:

COP27: Major takeaways from the UN climate summit; reactions from global leaders

<p lang="EN-US" paraeid="{904a20bf-aaf8-4098-95f8-cc9dac6fa4a4}{183}" paraid="1796123531" >The creation of a loss and damage fund, which will help poor nations around the world to rebuild after major natural disasters, has dominated the conversation at this year’s COP27 summit. While the fund was not mentioned in the first draft of the summit declaration, the European Union has taken a massive step towards making it a reality. European Commission vice-president Frans Timmermans submitted a proposal on Friday that made it clear that the EU member nations agreed to create the fund.&nbsp;</p>

<p lang="EN-US" paraeid="{994045cc-761d-4dc1-8b28-4974b9c07dcd}{91}" paraid="903663186" >“We were reluctant about a fund; it was not our idea to have a fund. My reluctance was because I know from experience it takes time before a fund can be established, and more time before it is filled, whereas we have existing instruments. I really believe we could move faster with existing instruments [for climate finance]. But since they [the G77] are so attached to a fund, we have agreed,” he said.&nbsp;</p>

<p lang="EN-US" paraeid="{994045cc-761d-4dc1-8b28-4974b9c07dcd}{91}" paraid="903663186" >Also read |&nbsp;<a href="https://www.wionews.com/world/69-quake-hits-off-western-indonesia-no-damage-reported-immediately-535416">6.9 quake hits off western Indonesia, no damage reported immediately</a></p>

<p lang="EN-US" paraeid="{994045cc-761d-4dc1-8b28-4974b9c07dcd}{146}" paraid="1954974100" >The proposal to create the fund came from the G77 group of developing countries and it meant added onus on rich nations when it comes to contributing towards combating natural disasters. The rich countries were split on the fund but the EU approval is being considered to be a positive sign.&nbsp;</p>

<p lang="EN-US" paraeid="{994045cc-761d-4dc1-8b28-4974b9c07dcd}{85}" paraid="1008193509" >However, Timmermans added that the fund will be created with “clear conditions” and the majority of the money will be used towards helping the poorest and environmentally vulnerable countries.&nbsp;</p>

<p lang="EN-US" paraeid="{994045cc-761d-4dc1-8b28-4974b9c07dcd}{85}" paraid="1008193509" >Also read |&nbsp;<a href="https://www.wionews.com/world/japan-united-states-hold-military-drills-right-after-north-koreas-icbm-launch-535363">Japan, United States hold military drills right after North Korea's ICBM launch</a></p>

<p lang="EN-US" paraeid="{904a20bf-aaf8-4098-95f8-cc9dac6fa4a4}{200}" paraid="1608200238" >While several developing countries welcomed the stance taken by the EU, Yamide Dagnet, director for climate justice at the Open Society Foundations, demanded more clarity about the conditions.&nbsp;</p>

<p lang="EN-US" paraeid="{061cce51-1d80-4605-bba1-d05519a9893c}{88}" paraid="2018913496" >“I expect Friday’s discussion to turn around the issue of defining vulnerability. Both the EU and the pair of ministers’ proposals on the table refer to the “most vulnerable countries” as those who should benefit from this fund – begging the question, of who is included and who is excluded into this framing, which has never been clearly defined in UN terms and could limit the benefits of the fund,” he told Reuters.&nbsp;</p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></p>


The creation of a loss and damage fund, which will help poor nations around the world to rebuild after major natural disasters, has dominated the conversation at this year’s COP27 summit.

The creation of a loss and damage fund, which will help poor nations around the world to rebuild after major natural disasters, has dominated the conversation at this year’s COP27 summit. While the fund was not mentioned in the first draft of the summit declaration, the European Union has taken a massive step towards making it a reality. European Commission vice-president Frans Timmermans submitted a proposal on Friday that made it clear that the EU member nations agreed to create the fund. “We were reluctant about a fund; it was not our idea to have a fund. My reluctance was because I know from experience it takes time before a fund can be established, and more time before it is filled, whereas we have existing instruments. I really believe we could move faster with existing instruments [for climate finance]. But since they [the G77] are so attached to a fund, we have agreed,” he said. Also read | 6.9 quake hits off western Indonesia, no damage reported immediately The proposal to create the fund came from the G77 group of developing countries and it meant added onus on rich nations when it comes to contributing towards combating natural disasters. The rich countries were split on the fund but the EU approval is being considered to be a positive sign. However, Timmermans added that the fund will be created with “clear conditions” and the majority of the money will be used towards helping the poorest and environmentally vulnerable countries. Also read | Japan, United States hold military drills right after North Korea's ICBM launch While several developing countries welcomed the stance taken by the EU, Yamide Dagnet, director for climate justice at the Open Society Foundations, demanded more clarity about the conditions. “I expect Friday’s discussion to turn around the issue of defining vulnerability. Both the EU and the pair of ministers’ proposals on the table refer to the “most vulnerable countries” as those who should benefit from this fund – begging the question, of who is included and who is excluded into this framing, which has never been clearly defined in UN terms and could limit the benefits of the fund,” he told Reuters.

COP27: EU agrees to loss and damage fund to help poor nations tackle disasters