Vulnerable nations receive half-baked compensation deal as COP27 summit ends in Egypt

Egypt s Foreign Minister Sameh Shoukry, heads the closing session of the COP27 climate conference, at the Sharm el-Sheikh International Convention Centre in Egypt s Red Sea resort city of the same name, on November 20, 2022. AFP

CAIRO, Egypt - The United Nations COP27 climate conference has approved the creation of a special fund to cover the damages suffered by vulnerable African nations affected by global warming.

This comes after a last-minute weekend-long closed doors meetings where delegates both from developed nations and developing were holed up in an attempt to salvage something out of COP27.

Earlier on the two-week meeting showed signs of collapsing forcing the African delegates to take lead in pushing for ‘loss and damage compensation.

However last-minute intervention by the UN breathed hope and aspirations for the vulnerable nations.
Participating delegates applauded after the fund was adopted on Sunday 20 November following days of marathon negotiations over the proposal.

Senior Coordinator of the African Group on Loss and Damage, Alpha Kaloga, said it was an important step.

"Today is a symbolic day, it is a symbolic day in terms of the impact that this decision will have on the future.

"Developing countries have been fighting for 30 years to have a fund, to have recognition of the losses and damages associated with climate change. Today, in the morning, when I left [the hotel] at 2 am, I didn't think we were going to get this deal. And there was understanding from everyone. The deal we have is a deal that reflects the collective will of all the countries."

An informal coalition of "high ambition" countries called for strong language on cutting emissions, moving away from planet-heating fossil fuels, and reaffirming the 1.5C goal.

The European Union even threatened Saturday to walk out rather than having a "bad" decision.

The talks still need to approve a range of decisions and a final COP27 statement including a call for a "rapid" reduction of emissions in order to meet the ambitious goal of limiting global warming to 1.5 degrees Celsius from pre-industrial levels.

Tasneem Essop from the Climate Action Network said: "It is a huge achievement to get an agreement to establish loss and damage fund after 30 years of small island states vulnerable countries, developing countries, trying to get this on the agenda. Now, sitting here at the COP27 to get this agreed to, is the result of a collective struggle."

Collins Nzov -Zambia's Minister of Green Economy and Environment, further added that “This is a very positive result from 1.3 billion Africans. Very exciting because for us, success in Egypt was going to be based on what we get from loss and damage."

The deal on loss and damage originally struggled to make it onto the negotiation agenda. Attention now turns to whether the summit will agree on a final statement.