UN demands from COP27 agreement to compensate for climate change

UN demands from COP27 agreement to compensate for climate change damage

The Secretary-General of the United Nations, António Guterres, assured this Monday that the next climate summit (COP27) must lead to agreements on how to respond to and compensate for the losses and damage caused by global warming.

“COP27 must be the place for action on losses and damage,” Guterres said, using the usual term for negotiations discussing measures to support countries hardest hit by meteorological disasters — such as hurricanes or floods — that are slower Effects of the climate crisis -such as long droughts or rising sea levels-.

Speaking to journalists, the UN chief warned that failure to act in this area “will lead to a greater loss of trust and more climate damage.”

“This is a moral imperative that cannot be ignored,” stressed Guterres, speaking at the start of the pre-COP27 in Kinshasa, a meeting to prepare for the climate summit to be held in November in the Egyptian city of Sharm el Sheikh the coast of the Red Sea.

The international community has been discussing the loss and damage caused by climate change for years and has made proposals such as creating compensation funds for the countries most affected, but no agreements have been reached so far.

According to Guterres, COP27 must be the scene of commitments in this area, and these negotiations will be a litmus test to see whether rich and developing country governments are serious about the price being borne by the most vulnerable.

Last month, in his speech to international leaders at the UN General Assembly, Guterres proposed taxing windfall profits from the fossil fuel industry and using some of the proceeds to help countries suffering losses and damage from the climate crisis.

Looking ahead to the climate summit, the United Nations also expects more clarity from developed economies about their commitment to allocate $100 billion annually to the least prosperous countries to help them adapt to climate change.

“COP27 is the place for all countries, led by the G20, to show that they are in this fight and that they are together,” stressed Guterres, calling on all international leaders at the Sharm el Sheikh meeting attending to demonstrate climate change is truly a top priority worldwide.

“Today we are in a life-or-death struggle for our own safety and tomorrow for (our) survival,” stressed the Portuguese diplomat.