UN publishes first draft of COP27 climate agreement, faces tough criticism

The United Nations climate agency published the first draft of the COP27 climate agreement but it has left a lot to be desired. According to Reuters, the draft faces criticism from various circles for including last year’s goals and the lack of clarity when it comes to several key issues. However, sources from the UN made it clear that it is only a draft and all parties are currently engaged in conversations over the final resolutions which will be adopted at the end of the COP27 summit being held in Egypt.

While all countries agreed on limiting the rise of global temperatures to 1.5 degrees Celsius, there were disagreements when it comes to stopping the reliance on fossil fuels. While the European Union and India emphasised phasing down on all fossil fuels, the draft did not mention any such resolution.

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It repeated the goal set at the Glasgow Climate Pact in 2021 aimed to “accelerate measures towards the phase down of unabated coal power and phase out and rationalize inefficient fossil fuel subsidies”.

According to Reuters, the other major issue which was brought forward by multiple countries was the formation of a “loss and damage” fund which will be ultilised in rebuilding after any major disaster. It was seen as a boost for poorer nations that are regularly ravaged by various natural disasters.

While the draft “welcomed” the proposal, no definitive answer was provided on the issue.

In the past few weeks, not all countries have extended support to the proposed disaster fund and experts believe that it can prove to be a major roadblock when it comes to reaching an agreement.